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Also included in Business Pack
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This Loan Agreement document includes three complete versions:
The version with the Guarantee includes a third party Guarantor to guarantee the repayment of the loan. The Guarantor is a named party to the loan and signs it along with the lender and borrower. If the borrower does not pay, the Guarantor has to re-pay on their behalf.
The version with Security includes a detailed clause for an item or items to be provided by the borrower as security against the loan amount.
These agreements can be used where the lender and borrower are either businesses or individuals. The agreements detail all the necessary clauses, such the loan APR and repayment procedure & schedule and the stated purpose of the loan. To provide further protection for the lender the agreement also ensures that where a business is borrowing the necessary internal procedures have also been followed.
These loan agreements also specify situations where the loan will be immediately repayable to the lender, for example, where the agreement is breached, the borrower has financial problems etc.
Clauses in this agreement:
If you are lending or borrowing money it is vital to have a comprehensive agreement in place.
CompactLaw Business Pack - includes this agreement.
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