I recently had a business agreement with my co-founder to split our business 70-30. 70% for me and 30% for my co-founder. We filed the LLC and two days ago my co-founder called me and told me that his family is giving us 40K with no ties for him and our business. I am tonight going to talk to my lawyer about the ownership, but want to know if giving him more equity is the best decision.
I thought about treating the money as a loan and he would get repaid the money plus gain a percentage back once our company starts generating revenue. I just would like to know if their is anyone else out their that has been down this route and might know a great way on going about this.