Question by born2win413: How do I write a loan proposal for the bank to obtain a loan to open up a coffee shop?
My friend is paying me to write her a loan proposal to the bank so that she can get the loan to open up her coffee shop. I need help on where to begin or can someone point me to a sample copy? Thanks.
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Question by MLE: If I consolidate my student loan with a personal loan can I still write off the interest?
I had a federal student loan which I consolidated about 8 years ago to someone who eventually sold that loan to Citibank. I pay about 8.35% in interest. I am considering paying off that student loan with a personal loan where I can get a better interest rate. If I do this will I still be able to write off the interest I pay on my taxes?
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Answer by bostonianinmo
Nope. It will no longer be a student loan then. You may be able to consolidate several student loans into another student loan at a better rate, but if you pay it off with a personal loan you’ll be left with a non-deductible personal loan.
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