Common Contracts

Sample employee loan agreement form

Employee Loan Agreement • February 13th, 2021

• Contract Type
  Employee Loan Agreement
• Filed
  February 13th, 2021

Patterns to create a pay agreement for employees who need extra cash before future paychecks. The agreement, which was drawn up for employees, take a loan from their employer. Effective Date / Employer (legal name), AKA (Employer) Located in Address (City), State Sip Code Legal Name, AKA (Employee) Located in Address (City), State Post Code Employee currently recognizes the debt to the employer in the amount . For the following reason: The Employee recognizes and agrees that the interest rate of 1 per cent per annum is charged to any outstanding amount and that repayment first applies to interest and then to the principal amount. Currently, the Employee authorizes the Employer to deduct $e-once every two weeks from the employee pay cheque, starting with the full payment of the full amount of the above loan. The employee also agrees that any outstanding amount will be deducted from the final audit of the Employee's salary upon dismissal or dismissal from the employer. Signature Letter r