Loan Agreement
This Loan Agreement (hereinafter referred to as the “Agreement”) is made and entered into by and between the following parties on the date specified below:
Lender:
Name: [Name of Lender]
Address: [Address of Lender]
Borrower:
Name: [Name of Borrower]
dress: [Address of Borrower]
Article 1 Purpose of Loan
The purpose of this Agreement is to outline the terms and conditions agreed upon by the Lender and the Borrower for the provision of a loan in the amount specified below.
Article 2 Loan Details
Loan Amount: The Lender shall provide a loan in the amount of [Loan Amount in Words and Figures] to the Borrower.
Loan Term: The loan shall be repayable within a period of [Number of Years/Months] commencing from the date of disbursement.
Interest Rate: The interest rate applicable to the loan shall be [Interest Rate in Percentage] per annum.
Repayment Schedule: The Borrower shall repay the loan in accordance with the repayment schedule attached hereto as Exhibit A.
Article 3 Repayment
The Borrower shall make all payments due under this Agreement in accordance with the repayment schedule specified in Article 2(4) above. Any late payments shall be subject to late payment penalties as agreed by the parties.
Signature: __________________
Date: __________________
Please note that this is a template for a loan agreement, and it should be tailored to the specific needs and requirements of the lender and borrower. It is crucial to consult with legal professionals to ensure that the loan agreement is compliant with local laws and regulations and meets the specific requirements of the parties involved. Additionally, ensure that all necessary details related to the loan, such as the repayment schedule and any security provided, are accurately reflected in the agreement.