A Loan Agreement is a legally binding contract under which one party (known as the ‘lender’) agrees to lend a certain amount of money to a business (known as the ‘borrower’). Loan Agreements set out the terms and conditions attached to a loan, including interest rates and repayment periods.
Use this Loan Agreement template when:
Where both parties are individuals (such as family members or friends) a Promissory note should be used instead of a Loan Agreement.
