Personal Loan Agreement
  • General Information
    • Who is Borrower?
    • Who is Lender?
  • Loan Details
    • Loan Amount
  • Payment Plan
    • Payment Plan Type
    • Payment Method
  • Miscellaneous
    • Security and Collateral
    • Additional Information
  • Complete the Document
    • Format & Signatures

Who is Borrower?

  • A Borrower (i.e. a person who borrows money) is:

  • Indicate the full name of a company (Borrower):

  • Indicate the full company's address (Borrower):

    !

    The company’s address is a principal address of where the business’s management sits or from where main business operations are made.

  • Indicate the full name of a Borrower:

  • Indicate full residential address of a Borrower:

Who is Lender?

  • A Lender (i.e. a person who lends money) is:

  • Indicate the full name of a company (Lender):

  • Indicate the full name of a Lender:

  • Indicate the Lender's full company's address:

  • Indicate the Lender's full residential address:

Loan Amount

  • Indicate the date on which the Loan Agreement is signed by both parties:

  • Indicate the amount of Loan in USD:

    !

    The sum of money should exclude any applicable interest (if any).

  • Will the interest rate apply towards the Loan?

    !

    Loan interest is the cost a borrower pays for borrowing money from a lender.

    When a borrower takes out a loan, they agree to repay the original amount (called the principal) plus an additional amount called interest.

  • Indicate the annual interest rate (in %), which applies towards the Loan:

  • Will the Loan be given for a specific purpose only?

    !

    A lender can borrow money for a certain purpose (e.g., to finance a borrower’s studies or to purchase a vehicle).

    If a loan is given for a specific purpose, a borrower should use the borrowed money for the said purpose.

    A borrower’s failure to use a loan in accordance with a designated purpose may result in a contract’s early termination and penalties.

  • Indicate the purpose for which the Loan should be used:

Payment Plan Type

  • How should the loan be paid back by the Borrower?

  • Indicate the frequency of regular payments with which the Loan should be repaid:

  • Indicate the amount of regular payments (in USD):

  • Choose the date of a month on which an annual regular payment of the Loan will take place:

    !

    The month of the annual regular payment of the Loan should be indicated in the answer to the next question.

  • Choose the month on which an annual regular payment of the Loan will take place:

  • Choose the day of the week on which regular weekly repayments of the Loan should be made:

  • Choose the date of the month on which regular monthly repayments of the Loan should be made:

  • Indicate the other frequency of regular instalments, with which the Loan should be paid back:

  • Indicate the date, on which the whole amount of Loan should be paid back:

Payment Method

  • Which payment method will be used by the Borrower?

    !

    Select the best payment method to be used by the Borrower for the Loan repayment. Once chosen, this payment method will apply towards all transactions under the present Loan Agreement

  • Describe the payment method to be used by the Borrower:

  • Indicate the exact bank details of the Lender's bank account to which automatic bank withdrawal payments should be redirected:

  • Does the Borrower have a right to repay the Loan earlier?

Security and Collateral

  • Should the Borrower's obligation to return the Loan be secured with a collateral (the "Collateral")?

    !

    A secured loan is a type of loan that’s backed by collateral, or assets a borrower owns.

    When a borrower takes out a secured loan, they are putting their collateral on the line. If a borrower can’t repay the loan, the lender can take the borrower’s collateral to recoup their loss.

  • Which type of property is used as the Collateral?

  • Describe in detail the Collateral (e.g. its size, value, type etc):

  • Is the Loan given under this Agreement used to purchase the Collateral?

Additional Information

  • If a Borrower fails to repay the Loan or its part on time, which type of late fees should apply?

  • Indicate the fixed amount of late fees in US dollars:

  • Indicate the percentage (%) from the amount due, which will serve as a late fees:

  • If a Borrower fails to make a regular payment on time, should a Lender have a right to request the payment of the full amount of the Loan immediately?

  • Indicate the laws of which state should apply towards the present Loan Agreement:

  • Do you want to add a signature?

  • Add your signature:

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