Common Contracts
1 similar Personal Loan Agreement contracts
Personal loan agreement form pdfPersonal Loan Agreement • July 3rd, 2023
A personal loan agreement is a loan contract that establishes one person’s obligation to repay another for borrowed money. It can be formed between a person and a lender (such as a bank or credit union), a friend, or a family member. Lower value personal loans are often unsecured (meaning the borrower isn’t required to put up an asset as collateral). The terms and conditions included in the contract establish the loan amount, how the borrower will repay it, the interest rate, and rules in place for specific scenarios (such as a missed payment).A personal loan agreement is a form that creates a legal obligation for one person to repay another person/entity money that was lent to them. There are two (2) general types of personal loans: secured and unsecured.
