I received a Loan, how do I record that in my books?

We recommend that you create a new account for each loan that you receive. For example if you have 2 loans and 2 lines of credit, you can create an account for each, then categorize the loan proceeds (cash inflows), and the loan payment (cash outflows) to the corresponding account. See the following example account names:

Loan Payable - Shopify Capital

Loan Payable - Lucy Smith

Line of Credit - Chase

Line of Credit - Bank of America