Using simple logic. you're transferring NCL to Owners Equity; as bother are a separate legal entity.
Hence, Dr the Corp NCL (which reduces the value to zero) and Cr the new Owners Equity(capital contribution to close them(loan).
Kinda Looks like this (depending on the ledger you've named) ;
Bank Loan (NCL) a/c Dr 100,000
To Owners Equity (loan Closure) a/c Cr 100,000
(Loan closure by additional Capital contribution)
Monthly the Owner will be settling the dues out of his profit drawings.
Owners Drawings a/c Dr 500
To Bank a/c Cr. 500
(Profit Drawings)
Owners Equity (loan closure) ac Dr. 500
To Owners Drawings a/c Cr. 500
(Repayment of Loan- adjustment entry)
PS- I am still a student and this is as per my understanding's. Please correct me, if I was wrong.