Lending Money Contract Template Free

A loan agreement is a written agreement between a lender and borrower.
Lending money contract template free. Free family loan agreement template pdf word the family loan agreement is a document that is made between relation by blood or marriage with one 1 acting as borrower and the other a lender the family member that is asking for the money may be required to pay an interest rate defined as a percent pounded annually by the lending party personal. Why you should use a loan agreement template. When you borrow money from your cousin or a friend for personal use is completely different when you need money for your business and you get a loan from a company or bank. A free loan agreement template is a document that will benefit anyone who is lending money to a person.
A loan agreement is a written promise from a lender to loan money to someone in exchange for the borrowers promise to repay the money lent as described by the agreement. The terms of the loan are available for the borrower to read and understand. Download these 9 free sample loan agreement templates to assist you in preparing your own loan agreement. As a lender this document is very useful as it legally enforces the borrower to repay the loan.
Its primary function is to serve as written evidence of the amount of a debt and the terms under which it will be repaid including the rate of interest if any.