Loan Agreement Template
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A loan agreement form must include all information regarding the loan, including the lender's and borrower's names and contact information. You will also need to have the conditions, interest rate, and terms of the loan, specifying the loan amount and repayment options. PDFSimpli can help you create a comprehensive loan agreement.
Many people prefer to craft their own loan agreements, especially when a loan is between two friends. A DIY approach is acceptable and legally binding. Still, if you do not have experience crafting such documents, you may leave loopholes in the agreement, meaning you may experience future risks or liability issues. PDFSimpli can help you avoid loopholes.
Most loan agreements occur in financial institutions with witnesses and likely notaries. However, a notary is not always necessary. Under the law, a loan agreement is a legal contract and is recognized as such if it contains the following three elements: consent, object, and cause. PDFSimpli can help you craft a legally binding loan agreement.