Hmm thats a tough one i mean, you dont want to lose his respect or anything, i think you should just be straight with him i mean if its too much for you to handle then just tell him, whats the pay like, im guessing its good and more than any other normal job you would end up getting but you should still tell him how you feel.. maybe lend him the money?

For all you know he could be going bankrupt, maybe you should talk to him about selling the business if he doesnt have enough money to run the business properly then its simple.. he should not have one.