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Properties of this Loan Agreement |
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 MS-Word format (.doc) |
2 pages |
493 words |
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Document Description:
A Loan Agreement is a contract entered into between two parties that defines the terms of a loan which is repayable with interest over a fixed term. This contract can be used to formalize loans between business partners, friends and family, or to detail the terms and conditions of larger commercial loans. Not only is this agreement binding and enforceable, it is also necessary for taxes and record keeping purposes.
This straightforward form includes 11 clauses covering the breakdown of the loan and interest charges, repayment conditions, lender and borrower information, warranties, and provisions in the event of the borrower's default. We recommend using this agreement with our Loan Calculator spreadsheet to calculate the repayment schedule and interest payments.
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Features |
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Benefits |
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