Director loan term (Zimba)

[ddbbss19]

Hello,

I have my visa extension due this week and really appreciate if someone could help me regarding this. I invested 19k in to business in 2013-2014 as director's loan. However, my accountants made a mistake and he showed this amount under creditors amount falling WITHIN a year in both accounts 2013-2014 & 2014-2015. Is that ok for me to have loan agreement mentioning "The tenure of Loan Agreement will be for 12 months and renewable with the consensus of both the parties depending upon the profitability index of an enterprise." OR should I write up new loan agreement letter increasing the term of the loan to 3 yeas and put them under creditors amount falling AFTER one year in account 2015-2016 ( management account ) .

is there any minimum term required for the term of the loan? as I found most of the loan agreements are either for 3 or 5 years but couldn't find anything abt the minimum term in both application form and policy guidance.

Really appreciate your quick response considering the time left to make a visa application.

[zimba]

No multiple posts. Continue where you started: http://www.immigrationboards.com/uk-tie ... 11032.html