My partner and I have been running a business together for almost 7 years now (since 2018), and we really hit our stride around year 4 when we shifted our business model. Up until recently, everything felt balanced, like a 50/50 partnership. My partner has always handled more of the ground work since he’s been unemployed for the entire duration of our business, while I funded the operation. So, while he’s always worked hard, I’ve also been covering the financials and putting in labor whenever possible.

Last year, we hit a rough patch and had to take out a loan. The business couldn’t qualify because my partner has no reported income and low credit, so I took out a personal $20k loan from my bank. In total, I’ve contributed over $40k to the business, including that loan, while he initially chipped in $2k at the start. Things eventually picked up again, but when I asked him to start helping with the loan payments, he pushed back. His reasoning? He’s done more of the “hard work,” so it doesn’t make sense for the business to cover a “personal loan” even though it was used to fund it.

The vibe between us has definitely shifted. He’s been using business money for personal expenses (like rent) and talking more about “I” than “we,” which has me feeling like I’m being sidelined. No formal contracts in place, but I’m wondering if I should just pull what I’m owed and bounce.

What would you do in my situation?

TL;DR: Business partner won’t help pay off the $20k loan I took out to fund the business, is using business money for personal expenses, and acting more like a solo operator. Should I take what I’m owed and leave?