A Loan Agreement is a contract document between the lender and the borrower. This kind of document regulates a mutual promise between them- so that no disputes arise later. The borrower promises the lender to pay back a specified loan amount within a specified period. Using agreement samples, you can easily come up with a loan agreement document in no time!
Loan Agreement Template
If you offer loans, then you should have our Loan Agreement template in Word available with you at all times. It is a very useful template as it lists out all the necessary terms and conditions as well as the liabilities of the borrower. You can also clearly state the penalties that would occur in case of a breach in the agreement. Open and edit this file using any of the file formats such as MS Word, Google Docs, or Pages.
Commercial Loan Agreement
Check out this legally binding commercial loan agreement template that will help both the parties who are involved in a financial transaction to abide by the terms and conditions of the agreement. It covers all of the various aspects that are needed for the agreement to take place so that you do not have to worry about making one right from scratch. Easily customize this template in any of the available file formats.
Equipment Loan Agreement Sample
Ensure that the equipment you are renting out is returned to you without any damages by downloading and using our Equipment Loan Agreement template. Get your client to sign this agreement template in Apple Pages as it covers all of the important information such as terms and conditions of the loan, equipment description, collection of payment, delivery, and so on. Click on that download button and make this template all yours this instant!
7 Steps on How to Create a Loan Agreement Template
Step 1: Open a File Format
You can start drafting your agreement by firstly opening a file format such as MS Word, Pages, or Google Docs. Once you open a file format of your choice, open a new document. On the very first page, you need to write down the title of the loan agreement as well as the name of your company.
Step 2: Mention the Name of the Parties
Moving on to the next page, you can begin writing the contents of the agreement by mentioning the name of the involved parties at the topmost section of the agreement document. Include the lender and borrower’s names and address details. The date on which the agreement is made effective should also be stated.
Step 3: Amount of the Loan
Next up, you need to write down the amount which will be loaned to the borrower by the lender after which, you can proceed to write down the rate of interest and due date details.
Step 4: Payment Schedule
In this section, mention the frequency and mode of payment. If the amount is not paid on time, write down the late fees and mention if there will be a grace period granted or not.
Step 5: Terms of the Agreement
After that, list out the various terms and conditions of the agreement template in case of an event of defaults, arbitration, penalities, prepayment, and other factors.
Step 6: Choice of Law
Write down the choice of law which the agreement follows so that in case of any disputes, they can be resolved accordingly in that jurisdiction.
Step 7: Signature
The signature sections should be added at the end of the loan agreement document, and both the lender and borrower are supposed to sign the document after thoroughly reading all of the contents present in it.
Car Loan Agreement Form Template
You might want to check out this Car Loan Agreement Form template as it outlines the various agreement terms between a bank and a borrower for the purpose of a car loan. It is professionally written and is a legally binding, so do not worry about its authenticity. Download now!
Editable Restaurant Loan Agreement Template
Make use of our Restaurant Loan Agreement template as it consists of all the agreement terms and conditions that are listed effectively. The purpose of the loan, along with the compensation, termination, and other details can be edited to suit your requirements. Take advantage of this standard loan agreement template by downloading it now!
Personal Loan Agreement Template
The personal loan agreement template captures information regarding the terms and conditions, interest to be paid, the purpose of the loan, and the date and place of agreement. It also has the bank details along with the monthly installments to be paid and the stamp duty amount.
Employee Loan Agreement
An employee loan agreement is a Word document that captures information regarding the recitals, employer responsibilities, payment, and terms and conditions. The template can be downloaded and modified according to the lender.
What is the Purpose of a Loan Agreement?
The main purpose of an agreement is to define that both parties are agreeing to whatever responsibilities. An agreement sample template should be written in such a way that it is applicable to the particular state and federal regulations. A loan agreement is a proof that the money given to the person is a loan and not a gift. A loan agreement protects the borrower as well as the tender when the issue goes to a court.
The exact monthly payment due can be defined only when using a loan agreement. Any pre-payment fees or penalties can be finalized only when an agreement is made. The length of the contract is specified clearly in the agreement, which helps the borrower know about the exact date the contract ends. You need to sign a different renewal contract in case the period is extended.
Loan Modification Agreement
The loan modification agreement is a document that helps in the permanent restructuring of the document. This is done when one or more modifications that are very important in the document need to be modified.
Business Loan Agreement Template
The Business loan agreement is a Word document used for creating an agreement for a business purpose. Business loans such as capital loans, start-up loans are given using this agreement.
Equipment Loan Agreement Template in PDF
The Equipment loan agreement is a document between the lender and the borrower for the equipment. There is a separate exhibit for listing out the details of the equipment borrowed which includes the number of pieces and insurance covered.
Loan Restructuring Agreement
Many types of loan agreements are available such as facilities agreements, revolvers, term loans, and working capital loans. You can easily design your very own loan agreement using templates like loan contract templates, payment plan agreement templates, loan application templates, loan note templates, etc.
How to identify frauds in the Loan Agreement?
Forgeries are not easy to find out. A loan calculator and loan agreement are much important as it deals with a large amount of money. Never depend on anyone for signing a document. If you want to get a signature from a person, meet them directly if this is going to be a huge property or amount deal.
Be careful when there are certain restrictions for signing the document such as the location information cannot be detected or the property is in a different state and the document is registered in a different state. This is because the rules and regulations differ from state to state. Always notice the bottom line which is printed in smaller fonts before you sign the document. This may be small but it has very confidential and important information which most of us do not notice.
Art Loan Agreement Sample
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Intercompany Loan Agreement Template
Installment Loan Agreement Template
Sample Student Loan Agreement Template
Loan agreements documents are quite important for all types of loans. Download the different templates for loan agreements that are present above as per your need. Modify them as per your requirement because there are a wide variety of these documents available such as Loan Contract Template, Payment Plan Agreement, Loan Application Template, Loan Note Template, Business loan agreement, etc.