Company Loan to person connected with directors.

I am looking to borrow money from a Family Business in which my Brother and Father are directors (They are the only shareholders).

The load would be 10-20k and will be used for a deposit on a house.

What are the tax implication on this for myself and for the business.

Is this possible to do?

I have read something about paying the loan back with interest...

The article I read was in relation to loans directly to Director's (not connected person's).

Is there any difference and if so what are the differences?

Basically loans to Directors and connected parties are prohibited BUT if the loan is less than 10% of Net Assets it may be possible. (This is a one line summary.) There wont be tax implications provided it is paid back. Otherwise you will have a b-i-k for the write off.
Have a look here
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Unless the company is in the business of making loans that this would be treated as a directors loan.

As WizardDr has said there are company law issues that can be resolved.

From a tax view point the will be a 20% Income Tax surcharge on the company on the amount of the loan outstanding at the end on the accounting year in which the loan was granted. There will be a BIK issue for either or both of the directors (or you if you are an employee of the company) on granting a non secured loan and an implied rate of 13% less any interest paid by you.

You have to remember that connected persons anti-avoidance is there to stop people giving loans to connected persons when it is in fact a loan to themselves.