Dear Sir/Madam.

Thank you for your service.

We have opened a (PTY) LTD. We wish to start a distribution business of household items. We have no money. We are dead scared of taking a Bank loan.

We would like to approach people to lend us money. We wish to pay them back when the business gets strong. In return for their support we would like to share half of our net profit with them for as long as the company is in business. We would provide a solid agreement.

Is this legal?

Thank you for you help.