Simple Loan Agreement Template - Page 11

Get eSignatures done in a snap

Prepare, sign, send, and manage documents from a single cloud-based solution.

What is a Simple Loan Agreement Template?

This document is an agreement between a lender and a borrower. It is specially created to record everything negotiated between these two parties. When they have come to an agreement, it is necessary to officially and legally determine the terms and conditions. For such a purpose, it is much easier to use a template to save time. It is a contract signed by both a lender and a borrower, including all conditions that they have previously approved.

There are 6 basic types of the agreement: a family loan agreement, loan release form, IOU (I Owe You), personal loan agreement, unsecured promissory note and secured promissory note.

How to Write a Simple Loan Agreement

A simple loan agreement template requires some time to be completed. Generally, there are several main points to include in the document. First of all, indicate the amount of the loan agreed to by both parties. After that, you include information about the parties: names, addresses, contact information, etc. Payment information comes next. Check the box that indicates the repayment preference of the lender. It is important to indicate the interest and sign the agreement.

According to this simple loan template, you must keep a record of all money-related issues as it is a legal document. Moreover, it is possible to download a PDF or Word sample and fill it out right on your computer, laptop or any device. You will not only save time using this method but also get the chance to edit the information, make notes and add more fillable fields if it is necessary.

Thousands of positive reviews can’t be wrong

Read more or give pdfFiller a try to experience the benefits for yourself
5.0
Ridiculously time-saving and easily customizable PDFfiller is a lifesaver as an...
Ridiculously time-saving and easily customizable PDFfiller is a lifesaver as an office assistant, as I'm able to quickly populate imported forms with the info I need without filling them in by hand-which saves me time, ink, and effort! Little drawbacks to using this-while some files I import aren't already OCR-friendly, it's easy to navigate around and create text input on my own.
Julian S.
5.0
PDF filer Completing forms and getting them to whomever I choose.
PDF filer Completing forms and getting them to whomever I choose. Ease of use. I love this software. I have a health issue that makes filling out forms quite difficult. With this software, I am able to complete any document. There is not much to dislike. So no comments on that.
Terry B.
5.0
Fill in the Blanks!
Fill in the Blanks! As per the 'Pro's' above, when edited could be then be immediately sent by mail to my counter-party sitting across a meeting room table. Crucially important for editing legal documents........... Every had a pdf file or document that you can't collect text sections,OR fill in a form, or add notations or extend a document. I did, and often, and I wanted it to look professional as possible, be online, so access from off office meetings was available, and documents changeable in an instant. One that when edited could be then be immediately sent by mail to my counter-party sitting across a meeting room table. Crucially important for editing legal documents. Then I found PDFfiller, it does that and more and I would highly recommend it, a reasonable cost for an excellent product that continues to update and improve its offering. Keep up the good work! A little bit cumbersome in remembering how to download a finished document, could be just me, but clearer tags or instructions might help
Brendan D.

Questions & answers

There are no legal differences between typed and handwritten agreements when it comes to enforceability. When most people think of a contract, a formally typed, the professional contract usually comes to mind. Nonetheless, a handwritten contract can be as valid as one that's typed.
A personal loan agreement should include the following information: Names and addresses of the lender and the borrower. Information about the loan cosigner, if applicable. Amount borrowed. Date the loan was provided. Expected repayment date. Interest rate, if applicable. Annual percentage rate (APR), if applicable.
In order for a contract to be considered binding, it must include the basic elements of a contract, including offer and acceptance, consideration, mutuality or intention, legality, and capacity. If a contract includes all of these elements, it is most likely a binding contract.
Does a personal loan agreement need to be notarized? No, a personal loan agreement does not need to be notarized to be legally binding — it simply needs to be signed by each party to the agreement.
Ask for a plan. Review the borrower's finances and help them set up a budget that includes your monthly repayment. Make sure they understand this is a loan, not a gift. Set terms that both sides agree can be enforced … and enforce them! Keep your distance. Get it down on paper.
Usually, an IOU and a promissory note form are only signed by the borrower, although they may be signed by both parties. A loan agreement is a single document that contains all of the terms of the loan, and is signed by both parties.