Loan Agreement

Loan Agreement 

This Loan Agreement (“Agreement”) is entered into on [Date], by and between: 

• Lender: [Full Name or Company Name], with an address at [Address]. 

• Borrower: [Full Name or Company Name], with an address at [Address]. 

Collectively, the “Parties.” 

1. Loan Amount 

The Lender agrees to lend to the Borrower the principal sum of $[Amount]. 

2. Interest Rate 

The loan will bear interest at a rate of [Interest Rate]% per annum. 

3. Payment Terms 

The Borrower agrees to repay the loan as follows: 

• ☐ Lump-sum payment: Principal and interest due by [Date]. 

• ☐ Installments: Payments of $[Amount] payable [monthly/weekly], beginning on [Start Date] and continuing until paid in full. 

4. Late Payment 

Payments not received within [Grace Period] days after the due date will incur a late fee of $[Amount] or [Percentage]% of the unpaid amount. 

5. Prepayment 

The Borrower may prepay the loan in whole or in part without penalty. 

6. Default  

If the Borrower defaults, the Lender may declare the entire outstanding balance immediately due, pursue legal action, and recover attorney fees and related costs. 

7. Governing Law 

This Agreement is governed by the laws of the State of [State]. Any disputes will be resolved in the courts of [County, State]. 

Signatures: 

Lender: ______________________________ Date: ____________ 

Printed Name: ____________________________ 

Borrower: ____________________________ Date: ____________ 

Printed Name: ____________________________