Common Contracts
2 similar Personal Loan Agreement contracts
Personal loan agreement between friends pdfPersonal Loan Agreement • August 4th, 2023
Parents generally would only obtain this loan to minimize the amount of student debt on their child. Video Sample 1. THE PARTIES. This Loan Agreement (“Agreement”) made this [DATE] is between: Borrower: [BORROWER’S NAME] with a mailing address of [ADDRESS] (“Borrower”) and agrees to borrow money from: Lender: [LENDER’S NAME] with a mailing address of [ADDRESS] and agrees to lend money to the Borrower under the following terms: 2. LOAN AMOUNT. The total amount of money being borrowed from the Lender to the Borrower is $[AMOUNT] (“Borrowed Money”). 3. INTEREST RATE. The Borrowed Money shall: (check one) ☐ – Bear Interest. The Borrowed Money shall bear interest at a rate of [#]% compounded: (check one) ☐ – Annually ☐ – Monthly ☐ – Other: [OTHER] ☐ – NOT Bear Interest. There shall be no interest associated with the Borrowed Money. The Borrower’s only obligation to the Lender is to repay the principal balance. 4. TERM. The total amount of the Borrowed Money, including principal and interest
Personal loan contract pdfPersonal Loan Agreement • June 6th, 2023
By Type (10) How to Get a Loan (5 steps) Step 1 – Choose a Loan Type Business Loan – For expansion or new equipment. If the business is new or in bad financial shape a personal guarantee by the owner of the entity may be required by the lender. Car Loan – Used to purchase a vehicle usually with a term of 5 years (60 months). FHA Loan – To purchase a home with bad credit (cannot be below 580). Requires the borrower to purchase insurance in the chance of default. Home Equity Loan – Secured by the borrower’s home in case the funds are not paid-back.
