Common Contracts
1 similar Unsecured Loan Agreement contracts
Unsecured loan agreement format pdfUnsecured Loan Agreement • May 8th, 2023
A loan agreement is a legal contract between a borrower and a lender. It establishes how much money is being borrowed and sets other terms of the loan, including the repayment schedule and interest, if applicable. You should use loan agreements when you lend or borrow money, with or without interest. This includes: Lending or borrowing money within your family Lending or borrowing money from your friends Borrowing money from an institution to finance a home, car, or university tuition Table of Contents What Is a Loan Agreement? A loan agreement is a written contract between a lender and a borrower that can be enforced in court if one party does not hold up their end of the bargain. The borrower agrees that the borrowed money will be repaid to the lender at a future date, often including interest. In exchange, the lender can’t change their mind and decide not to lend them money, especially if the borrower relies on the lender’s promise and makes a purchase expecting they’ll receive the
