See @Rustler 's response BUT
should you even have set up loans in the first place?
If you are a sole proprietor the answer is a resounding NO since all money is your money and you cannot borrow from yourself.
If you are a multi-member LLC and the LLC operating agreement specifically states that the LLC may borrow from the members then each member can loan money to the entity, but usually money put in as startup is equity and if you pay back the equity you are essentially reducing your stake in the business.
If you are a corporation then additional rules on shareholder loans come into play.
Even in a multi-member LLC, unless there is a major discrepancy in amounts of money contributed by each member, or partner in a partnership, any return of cash is member/partner draw -it was contributed equity to begin with and is withdrawn equity when paid out.
I recall our CPA insisting on the fact that partnership/LLC operating agreement has to include language regarding loans or there can be no loans to or from the partners. Best way to cover for there being loans is to regularly pay interest at a market or higher rate on the outstanding "loans" The IRS despises zero-interest borrowing unless you are a federally regulated banking institution able to borrow from the Federal Reserve, who at one point paid borrows to borrow (negative interest)
