Personal loan agreement format pdfPersonal Loan Agreement • May 10th, 2023
Contract Type FiledMay 10th, 2023Updated April 14, 2023A personal loan agreement outlines the terms of how money is borrowed and when it will be paid back. It is a simple agreement that includes the borrowed amount, interest rate, and when the money must be repaid. If the borrower misses a payment or doesn’t pay back the loan, they will be in default of their agreement with the lender and subject to late fees and penalties.A personal loan is a sum of money borrowed by an individual that may be used for any purpose.