Money lending agreement
Business loan agreement
What is a Loan Agreement?
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.
When should I use a Loan Agreement?
Use this Loan Agreement template when:
- you intend to lend money to either a company, partnership or LLP, or
- your company, partnership or LLP intends to borrow money from someone else
Where both parties are individuals
(such as family members or friends) a Promissory note
should be used instead of a Loan Agreement.