Welcome to the Community family. I'd be happy to walk you through on how to receive cash for loan repayment to business in QuickBooks Online.
Select the Plus icon (+) at the top.
Under Vendors, choose Check/Ch
Add a check number if you send an actual check. If you use direct withdrawal of EFT, type in Debit or EF in the Check/Check # field.
Enter the following information in the Account details section. (First line: Liability account for the loan and the amount of payment) (Second Line: Expense account for the interest and the amount) (Succeeding lines: Any additional fees along with the appropriate accounts.)