Loan Agreement Template


You may heard about loan agreements before, a loan is an agreement of borrowing money from the lender and then repay him after a specified time. The loan agreement may be in writing or in oral, the writing loan agreement is fully legal and it binds the borrower in the terms and conditions of loans. Loan agreements may be for persons, companies or group of companies and can have different clauses according to the criteria and state of affairs. These loan agreements can be prepared by official lenders or other money lending firms, however, a loan agreement can also be prepared for a private loan. A conventional loan contract encloses a promissory note, loan repayment terms, default guidelines, late payment provisions and clauses regarding litigation procedures.

Here is preview of this Loan Agreement Template,

Loan Agreement Template

Here are some instructions available to write a loan agreement, follow them if you want to make a successful loan agreement.

  • Discuss the terms and conditions of credit with the borrower or the lender, it depends on you that who are you in this case. If you want to avoid the problems regarding loan agreement, discuss all the matters and facts with the opponent.

  • Check out a sample of the loan agreement and check out that all the necessary information is available or not in the following sections, promissory note, principle, rate of interest, terms and conditions, payment, borrower, lender, and witness signatures, and precautions. You’ll need all of these sections to be in your contract.
  • State whether the loan to be pledged. This mean that the borrower will have to sure you return of loan, by pledging an asset for the security of the loan. In case of loss the lender can recover his loan from the pledged asset.
  • Draft up the loan contract according to the pre-defined terms and conditions under the management of the legal representative. Since this is a lawful joining document, you will need a legal representative to review both the drafting of the agreement and the signing of the agreement.
  • Compute the whole rate of interest on the credit using a paying off schedule.
  • Keep the language simple and easy to understand in the document, the document should not be littered with legalese to hold up in court.
  • Make sure all the details with the borrower (or lender, if you are the borrower) once the agreement is completed. Fix an engagement with the borrower to close and fund the loan.

By following these guidelines you might be able to avoid any kind of misunderstanding and misfortune in course of your business deal. Holding a loan agreement saves you in any legal situation where you may be in need to sue any of your friend or family members for recovery of your money. It will be the only evidence of your transaction so have a preference to have a written agreement rather than oral one. A good agreement can be obtained by using templates available for this purpose.

Here is download link for this Loan Agreement Template,

blue_download_button

Related Word Templates

  • Non-Disclosure Agreement TemplateNon-Disclosure Agreement Template // // In business life a person might be in a situation to share surreptitious matters with other parties or persons which demand to be kept confidential. A non disclosure agreement is constructed at this point for the sake of secrecy. Non disclosure agreement is a legal document in which one party consents to provide confidential information about their business or products to […]
  • Car Lease Agreement TemplateCar Lease Agreement Template Leasing is a procedure in which a firm or an individual be capable of achieve the utilization of a positive fixed assets intended for which it must disburse a series of contractual, episodic tax deductible payments. The lessee is known as the recipient of the services or the possessions underneath the lease contract and the lessor is the possessor of the possessions. Car […]
  • Property Agreement TemplateProperty Agreement Template Buying a rentals are a single premier expense which comes from a large amount of deliberation as well as careful attention. Simply just obtaining resources available isn't enough to buy a property. It is very important make sure all of documents are by law and from a technical perspective good so you get pleasure from straight forward usage. // // Primary Property: Should […]
  • Maintenance Agreement TemplateMaintenance Agreement Template It is possible to forget about a person's Heating up, Ventilating, as well as Air-con (Air conditioning) technique until eventually it's not necessarily holding your own surroundings because at ease mainly because it should. If you live inside Atlanta, this can be a true problem in the humid and hot summer season. Designed preservation can certainly help the Woodstock Heating system to […]
  • Tenancy Contract TemplateTenancy Contract Template A tenancy contract is a deal between a landlord and single or more personalities involved in breathing in the assets or performing a trade there. Rental Concords are one of the more ordinary varieties of concord in English by law and, for the reason that they compact with residences and commerce location, one of the more vital. The reason of a tenancy concord is to place the terms and […]
  • Private Label Agreement TemplatePrivate Label Agreement Template // // Before entering into a private label agreement lets first understand what a private label means.  A private label is a product or service that is specifically produced or made available by one company for offer under another company's trademark. As for example, credit cards, these are offered by different bank brands with their labels on, but these cards are all powered […]
  • MOU Memo TemplateMOU Memo Template The document which is known as memorandum of understanding is an important legal document that is signed between the two parties which are entering into a common interest thus getting mutually agreed upon the common upcoming interests. This document actually shows that both the parties are happy to join in the common line of action for their future perspectives. This is […]
  • Partnership Agreement TemplatePartnership Agreement Template // // Partnership is a lawful affiliation that exists between two or more persons in order to carry on a business on mutual terms. Business can be an occupation, trade or profession that carries on by two or more persons with mutual consent in order to share profit and loss equally according to their investment. In order to diminish the chances of conflicts, it is necessary to […]
  • Business Contract TemplateBusiness Contract Template A business Contract is an agreement which is made between any two organizations, parties with mutual consent after their decision or agreement to enter in business relationship with one another. This contract is in other words a legal enforceable promise to abide one another for mutual sharing of the profits and losses in accordance with the already decided or signed obligations. The […]
  • Work Permit Certificate TemplateWork Permit Certificate Template // // Work permit is a legal approval to a person to take employment in a specific area or state. It is given to those persons who travel other countries without any citizenship. It is issued upon the requirements of jurisdictions of a state, or the permit certificate is awarded to the minor to grant work permission in order to legally work due to the child labor laws. In an […]