Check whether sole-trader or company? In company decide to treat as director loan of parent or as a creditor.
Is the most recent accounts or statement of affairs avaiable
Maybe son would want to do some check on parent's business to see that money is not going down a black hole( basic due dilegence) Why would business need money now? Is thier other costs that can be cut.
When their is close relationships involved a lot of the time people whether sons/parents/ friends dont get the money back and some afraid or shy about looking for it back
To loan money to any one- You want to be able to ask yourself would it have any effect on your own cashflow if you got nothing back?
Many people who receive loaned money in this way find they now have a person to get money off and less likely to take responsibilty for their own finances and keep going back till the well is dry and they could be also getting loans from a number of people you might be unaware of.
From posting we do not know enough about business to suggest whether it is good to give loan.
Business is farming, cashflow for next 2-3 months is tight but picks up later in year following the sale of stock, tillage crops etc. Cashflow is very seasonal in this sector.
Parent is monitoring business, cashflow and has cut costs (wages etc).