Simple Loan Agreement Template - Page 9

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
Although the connection could lag Although the connection could lag, the program...
Although the connection could lag Although the connection could lag, the program has been pretty easy to navigate.
Michelle Lockhart
5.0
Customer service is A1!
Customer service is A1! Wow! Customer service is A1!I needed to fill out some forms for an outfit, a one-time thing, and signed up for the trial month.Later in the month I tried to cancel the trial period before my credit card was charged the $20, but I forgot which email account I'd used to sign up, so I was unable to log in to my PDFfiller account.Today, when I received the email saying my credit card was charged the $20, I was able to contact PDFfiller since I now knew which account I'd used. I contacted them via "Contact Support" in their website and explained my situation. OMG! When it said I should receive an email in 20 minutes or less, I was thinking, "Yeah, right!" but it was literally only minutes before I received an email saying they would be glad to cancel the subscription and refund my money.If I ever need this type of service on a more regular basis, I will definitely be signing up with this company!
Duane
4.0
Good Good, but would be better if the cursor would line up exactly on each line...
Good Good, but would be better if the cursor would line up exactly on each line with the line above. It's frustrating to have to manually line it up every time.
Dennis Teeling

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.