Create a basic Loan Agreement Online step by step at DocsCreator
Money is a very important thing and it can create distance when it passes between family and friends, especially if you are lending to or borrowing from your family member or close friend. If you want to lend or borrow the money, you should understand the need for a loan agreement. Legally linked loan agreements online not only gives credit terms but also protects you from defaulter as you have collateral.
The collateral is a property or other asset that the borrower offers as a debt to the lender. If the borrower does not fulfill the promise of debt repayments, the lender can capture collateral to eliminate his losses. Collateral of the borrower is called a lien.
A Loan Agreement is also known as Business Loan Agreement, IOU and Term Loan. DocsCreator provides this Loan Agreement Online. You can download it as pdf or save it in your email as well.
More about Loan Agreement:
A loan agreement is a written agreement or contract between the lender and the borrower. The lender has promised to repay the payment schedule (regular payment or cash lump sum). As a lender, this document is very useful because according to the law it requires. This loan agreement online can be used for commercial, personal, real estate and student loans.
Where can you use online Loan Agreement?
- If you want to borrow or lend the money then you need to signed contract.
- If you want to show that you are agreeing to repay the money.
- You want to set a monthly payment amount on the loan agreement.
- If you need corporate debt, as an investment loan for the initial business
- Home loan, such as home or real estate purchase
- Student loans for fees
- Shopping, like furniture, electronics, car, boat etc.
- Personal loans or IOUs between friends or family
Our loan agreement online includes basic loan information such as loan amount and repayment options. The form can also be created and paid for throughout the date.
Details you need to add in loan agreement online:
Although this document is easy to create, you still need to gather some information to speed up the process.
TYPE OF LOAN: What is this loan for? For Personal, Real Estate, Business, Vehicle or Other.
LENDER DETAILS: Lender type Individual or Corporation with the all address information
LOAN DATE AND AMOUNT: Mention loan date and total amount which is landed. How much interest will be charged?
COLLATERAL: If the borrower fails to repay the money will the Loan Agreement be secured by any collateral? And any late payment included?
SIGNATURE: Signature of the borrower, lender, and witnesses.
Our online loan agreement form can be used to enter into a legally binding agreement for any state. It’s easy to use, and it just takes a few minutes to get ready.