Free loan agreement template 16Free loan agreement template 16
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LOAN AGREEMENT
Acknowledgement of Debt.
1. Parties
This Loan Agreement is made between:
[FULL NAME] ([ABN OR ACN]) of [ADDRESS] , (“the Borrower”),
and
[FULL NAME] ([ABN OR ACN]) of [ADDRESS] (“the Lender”), together know as the "Parties".
2. Date of Agreement:
This Agreement is effective [EFFECTIVE DATE].
3. Period of Loan:
This loan shall endure for a period of 3 months calculated from the Date of Agreement
3. Loan Amount:
The Borrower promises to pay to the Lender $10,000 and Interest as well as other charges outlined
below.
Interest:
The Borrower shall be obliged to pay interest at the rate of 12 percent (%) per annum, the "Interest",
such interest to be paid together with the capital sum of the loan at the end of the loan period.
Or
The Borrower shall be obliged to pay the Interest Rate in equal monthly instalments of percent 1
(%) on the first day of each month.
5.
Prepayment:
The Borrower shall be entitled to pay larger instalments than prescribed or the full balance of capita
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