Getting a loan from your S-Corp as downpayment for investment

[John Valley]

Hi! 

I am about to offer on a property. I have an S-Corp formed with three other members. I was looking online about getting a loan from the corp to use as a down payment on a 6 unit. I was wondering if anyone had a clear answer on if this is legal and if so how will it affect me tax wise? I read that you could but you need to repay in a year. 

However, this is totally business related so I am wondering if there is a loop pool that I could use? The main reason I want to do this is to get a better interest rate on loan and a longer amortization. Let me know if this doesn't make sense or you need more information! Thank you in advance.