A loan agreement records money lent from one party to another and how it will be repaid: the amount, any interest, the schedule, and what happens if a payment is missed.
A loan agreement is the written record of money lent from a lender to a borrower and the terms for paying it back. It sets the amount, any interest, the repayment schedule, and what happens on a missed payment or default. Whether the loan is between a business and an individual, or between two people, putting it in writing protects both sides.
Open it in the editor with the fields already mapped, or download the DOCX to edit offline.
Drop signature and date fields, then route each party in order or in parallel.
Everyone signs, and you get a tamper-evident PDF plus an audit certificate.
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Any time real money changes hands with an expectation of repayment, write it down, even between people who trust each other. A signed loan agreement removes the awkward ambiguity about how much, by when, and with or without interest, and gives the lender something to rely on if repayment stalls.
Decide whether the loan carries interest and at what rate, then set a schedule the borrower can actually meet, usually fixed monthly installments. Spelling out the amount, the dates, and the final payoff date keeps both sides on the same page and makes it easy to track progress.
This template lets the borrower repay early with no penalty, which is fair and common. It also sets a grace period and a late fee so a missed payment has a clear consequence without immediately escalating.
If payments stop and are not caught up within the cure period, the default clause lets the lender call in the whole balance at once. That is the lender’s main protection, so keep it in and make the cure period realistic.
An unsecured loan relies on the borrower’s promise to repay. A secured loan is backed by collateral the lender can claim if the borrower defaults. Choose in the template, and if secured, describe the collateral clearly.
A promissory note is a shorter, one-sided promise to repay. A loan agreement is a fuller two-way contract covering interest, schedule, default, and security. For anything beyond a simple IOU, the loan agreement gives both sides more protection.
Add both names, the amount, the interest rate, the repayment schedule, and the governing-law state, and choose secured or unsecured. Sign online: place signature and date fields for the lender and the borrower, and send it for a sealed copy with an audit trail.
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View templateThis template and the guidance on this page are provided for general information only and are not legal advice. Laws differ by country and state, so review the final document against your own situation and have a qualified lawyer check anything high-value or regulated before you sign.
Yes. Signed with a valid electronic signature it is binding under the US ESIGN Act, state UETA laws, and eIDAS in the EU. The signed copy keeps an audit trail of each signer’s identity, IP address, and signing time.
A promissory note is a short, one-sided promise by the borrower to repay. A loan agreement is a fuller contract signed by both parties, covering interest, repayment schedule, late payment, default, and any security.
Yes. Even an informal loan benefits from a written agreement. It prevents misunderstandings about the amount, interest, and timing, and keeps the relationship intact if repayment gets complicated.
Yes. State that the loan is interest-free in the interest clause. Be aware some jurisdictions have tax rules for interest-free loans above a threshold, so check if the amount is large.
Yes. Use the editable Word file to set your terms, or the print-ready PDF. You can also fill and sign online with no download, keeping a full audit trail.
Yes. Both parties sign one agreement so it binds each side. Signing online routes the same document to both and returns one sealed copy.
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