Basic Loan Agreement Document

Basic loan agreement document is a formal document which is made in the case when a person or party agrees to take a basic loan from another person, party or a financial institution on the basis of certain legally binding terms and conditions.

These documents are used to record the details of the agreement which is formed between the parties on mutual agreement basis. The details of the parties, terms and conditions, details of the loans etc are the details mentioned in such agreement documents. Given below is a sample of a basic loan agreement document.

Sample basic loan agreement document:

This basic loan agreement has been made effective as on 23rd Feb 2012 and shall remain into effect for 12 months. According to this basic loan agreement, the lender shall grant a loan to the borrower for the effective period of the loan agreement.

Length of basic loan: 12 months

Termination date of loan agreement: 23rd Feb 2012

The details of the parties are given as follows

Lender details:

Name: Will Smith

Address: S/89, second floor, Jack street, London

Contact number: 44709432944

Borrower details:

Name: Fred Timothy

Address: 4/m, third floor, Shack road, London

Contact number: 47093423244

The following are the details of the basic loan which is being granted:

Loan amount: $3000

The following are the various terms and conditions of the basic loan agreement:

  • The lender agrees to loan the above said amount to the borrower for a period of 12 months.
  • The borrower must repay the loan amount along with the interest within the effective period of agreement.
  • The lender has confirmed that the borrower is entitled and qualified to be paid the loan amount.
  • The total outstanding amount shall also include the additional expenses if any that are incurred during the length of this agreement.

Signatures:


Posted in Loan Documents