Can a pvt ltd company take loans from public.

vidya t (1 Points)

08 December 2017  

Hi,

We are looking to seek loans from 100 individuals (10,000 rs @ 2% pm interest) for a tenure of 1 year. 

Is this doable as per companies act or is a sole propritership model more suitable to take loans from individuals.

Thanks in advance for valuable advice.