Common Contracts
1 similar Loan Agreement contracts
Term loan agreement templateLoan Agreement • June 18th, 2023
This includes: Lending or borrowing money within your family Lending or borrowing money from your friends Borrowing money from an institution to finance a home, car, or university tuition Table of Contents What Is a Loan Agreement? A loan agreement is a written contract between a lender and a borrower that can be enforced in court if one party does not hold up their end of the bargain. The borrower agrees that the borrowed money will be repaid to the lender at a future date, often including interest. In exchange, the lender can’t change their mind and decide not to lend them money, especially if the borrower relies on the lender’s promise and makes a purchase expecting they’ll receive the loan. A loan agreement is sometimes called: Business loan agreement Loan contract Personal loan Promise to pay Secured/unsecured note Term loan What’s the Difference Between a Loan Agreement, Promissory Note, and IOU? A loan agreement is generally more formal and less flexible than a promissory note o
