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ApplyThis Money Lending Agreement (the “Agreement”) is entered into as of [Effective Date] by and between:
Lender: [Lender Full Legal Name], address: [Address] (“Lender”).
Borrower: [Borrower Full Legal Name], address: [Address] (“Borrower”).
Lender and Borrower may be referred to individually as a “Party” and collectively as the “Parties.”
1.1 Principal Amount. Lender agrees to loan Borrower $[Amount] (the “Loan”).
1.2 Funding Date. The Loan will be funded on: [Date].
1.3 Disbursement Method. ☐ Bank transfer ☐ Check ☐ Cash ☐ Other: [Method].
1.4 Loan Purpose (Optional). Borrower will use the Loan for: [Purpose].
2.1 Repayment Type (Select One):
☐ Lump sum payment of all principal (and interest, if any) due on [Due Date]
☐ Installments of $[Amount] per ☐ week ☐ month, due on the [__] day, starting [Start Date], with final payment due [Final Due Date]
☐ Other schedule: [Describe]
2.2 Payment Address/Account. Payments must be made to: [Payment details].
2.3 Payment Allocation. Payments apply to fees, then interest, then principal, unless required otherwise by law.
3.1 Interest Rate. ☐ No interest ☐ Interest at [__]% per year.
3.2 Interest Accrual. Interest accrues on the unpaid principal balance from [Funding Date/Effective Date].
3.3 Maximum Permitted Rate. If the stated rate exceeds the maximum allowed by law, it will be reduced to the maximum permitted.
4.1 Grace Period. Payments are late after [**] days.
4.2 Late Fee. $[**] or [__]% of the late amount (if permitted by law).
5.1 Borrower may prepay all or part of the Loan at any time ☐ without penalty ☐ with prepayment penalty: [Terms].
5.2 Prepayments will be applied to principal (and interest as applicable) unless stated otherwise.
6.1 This Loan is: ☐ Unsecured ☐ Secured.
6.2 Collateral Description (if secured). [Describe collateral].
6.3 Security Documents. Borrower agrees to sign documents reasonably necessary to evidence/perfect the security interest, if applicable.
6.4 Care of Collateral. Borrower will maintain collateral in good condition and not sell or encumber it without Lender’s written consent.
7.1 Borrower represents that:
Borrower has authority to enter into this Agreement
Borrower will repay according to the terms
Information provided to Lender is accurate to the best of Borrower’s knowledge
Borrower has authority to enter into this Agreement
Borrower will repay according to the terms
Information provided to Lender is accurate to the best of Borrower’s knowledge
8.1 Events of Default. Default includes: non-payment, material breach, insolvency, or unauthorized transfer of collateral (if any).
8.2 Notice and Cure (Optional). Borrower has [__] days to cure after written notice, if permitted.
8.3 Acceleration. Upon default, Lender may declare the full unpaid balance immediately due, subject to applicable law.
8.4 Collection Costs. Borrower will pay reasonable collection costs and attorneys’ fees where permitted.
9.1 Forum. Disputes will be handled in: [Court/County/State].
9.2 Attorney Fees (Optional). Prevailing party: ☐ may recover fees ☐ may not recover fees.
10.1 Notices must be in writing and delivered to the addresses listed above.
11.1 This Agreement is governed by the laws of [State/Country].
12.1 This Agreement is the entire agreement between the Parties regarding the Loan and replaces prior discussions.
By signing below, the Parties agree to this Money Lending Agreement as of the Effective Date.
Lender: [Full Name]
Date: [Date]
Signature: ___________________________
Borrower: [Full Name]
Date: [Date]
Signature: ___________________________
Co-Signer/Guarantor (Optional): [Full Name]
Date: [Date]
Signature: ___________________________
Witness Name: [Name]
Date: [Date]
Signature: ___________________________
State of [State]
County of [County]
On [Date], before me, [Notary Name], personally appeared [Lender Name] and [Borrower Name], known to me (or satisfactorily proven) to be the persons whose names are subscribed to this Agreement, and acknowledged that they executed it for the purposes stated.
Notary Public Signature: _______________________
My Commission Expires: _______________________
Notary Seal (if applicable): ___________________
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For quick answers, scroll below to see the FAQ.
Frequently asked
A Money Lending Agreement (also called a Lending Contract) is a written contract where a lender agrees to loan money to a borrower, and the borrower agrees to repay it under specific terms. It clarifies the loan amount, interest, repayment schedule, late fees, and what happens if the borrower defaults.
A promissory note is primarily the borrower’s promise to repay. A lending agreement is often more detailed and can include additional terms like conditions to fund, representations, payment processing, collateral terms, and dispute rules. This template is structured as a contract with clear sections.
It can, but it depends on the arrangement and local laws. Interest rate limits (usury laws) and disclosure requirements vary. This template includes optional interest and late fee terms you can customize.
Yes. A loan can be secured by collateral (like a vehicle, equipment, or other property). This template includes an optional collateral section. For secured loans, you may need additional documents to perfect the security interest depending on your jurisdiction.
Not always. Many lending agreements are enforceable with signatures alone. Notarization can help prove authenticity and may be useful for higher amounts. This template includes an optional notary section.
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