Loan Agreement

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Loan Agreement Format

 

Loan agreement is a contract between a borrower and a lender which regulates the terms and conditions and mutual promise made between both the parties to the contract.

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Download Loan Agreement Format

How to Use

The main purpose of a loan contract is to define what the parties involved are agreeing to, what responsibilities each party has and for how long the agreement will last. A loan agreement should be in compliance with state and federal regulations, which will protect both lender and borrower should either side fail to honor the agreement.

How to Create

Such types of agreements mainly consists information about the parties to contract with their address, facility and purpose, repayment provisions, interest and interest period, events of default, representations of the borrower, representations of the lender, action steps in the event of default, waiver clause, etc. as required.