Interest paid to equity partners?

Hi. I have a client with investors who want to be owners (probably an
LLC so they would be members). Managing member would like to pay
interest to the investor/members based on their equity amount. He will
also pay them a share of the profits. A bank has agreed to loan the
funds needed in the company, but owner/manager would rather pay the
interest to the other owners. He needs the interest to be an expense,
since the share of profits paid to them are actually combined with the
profits from another unrelated company (sort of a joint venture). Any
suggestions? THanks in advance!

.

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