Borrowing Money Agreement Letter Template

Date: [Date]

From (Borrower): [Borrower Full Name]
[Borrower Address]
[City, State, ZIP]
[Phone] | [Email]

To (Lender): [Lender Full Name]
[Lender Address]
[City, State, ZIP]

1. Loan Confirmation

I, [Borrower Full Name], confirm that I have received $[Amount] from [Lender Full Name] on [Funding Date] as a loan.

2. Repayment Terms

2.1 Repayment Schedule (Select One):
☐ One-time payment of $[Amount] due on [Due Date]
☐ Installments of $[Amount] due on: [Dates]
☐ Other schedule: [Describe]

2.2 Interest: ☐ No interest ☐ Interest at [__]% per year (if permitted).
2.3 Payment Method: ☐ Bank transfer ☐ Check ☐ Cash ☐ Other: [Method].
2.4 Payment Destination: [Account details or address].

3. Late Payment (Optional)

3.1 Payment is late after [] days.
3.2 Late fee: $[] or [__]% (if permitted).

4. Default

4.1 If I fail to make payments as agreed, the remaining balance may become immediately due, and the Lender may pursue lawful collection options, subject to applicable law.

5. Additional Terms (Optional)

5.1 [Any additional terms, e.g., partial payments allowed, communication method, payment holidays.]

Sincerely,
[Borrower Full Name]

Signatures

Borrower: [Full Name]
Date: [Date]
Signature: ___________________________

Lender (Optional Acknowledgment): [Full Name]
Date: [Date]
Signature: ___________________________

Witnesses (If Required)

Witness Name: [Name]
Date: [Date]
Signature: ___________________________

Notary / Notarization (Optional)

State of [State]
County of [County]

On [Date], before me, [Notary Name], personally appeared [Borrower Name] and [Lender Name], known to me (or satisfactorily proven) to be the person(s) whose name(s) are subscribed to this letter, and acknowledged that they executed it for the purposes stated.

Notary Public Signature: _______________________
My Commission Expires: _______________________
Notary Seal (if applicable): ___________________