WHAT IS A LOAN AGREEMENT?
A Loan Agreement is entered into when one party (the Borrower) has requested the other party (the Lender) lend them money. A loan agreement aims to protect the interests of the Lender and set out the terms of the loan, including the amount borrowed, the rate of interest and repayment terms. It is recommended that a loan agreement is signed prior to exchanging funds.
WHO MIGHT REQUIRE A LOAN AGREEMENT?
A Loan Agreement is typically used by family members and friends when lending loved ones money.
ABOUT OUR LOAN AGREEMENT TEMPLATE DOCUMENT
When you purchase the Loan Agreement template, you receive an editable Microsoft Word document for you to modify. The template is emailed to you instantly.
This document you receive is a basic agreement template. If you require a more complex agreement, you will need to engage a lawyer to draft additional, relevant clauses to your specific situation.
DO YOU NEED SOME LEGAL HELP?
Request a fixed-fee, competitive quote from one of our lawyers to draft your Loan Agreement for you. This service includes:
- A complimentary consultation via phone, Zoom or Skype.
- A quick turnaround of up to five business days.
- A Loan Agreement drafted by a lawyer to suit your specific needs.