4 min read

45+ Free Loan Agreement Sample and Templates

A loan agreement would be beneficial to use when one is going to decide the terms for a specific loan. It is wise to follow a template to get an idea of what should be included and what should be avoided in a loan agreement. It is important whether a person is lending a loan to someone or whether they are borrowing the loan.

The purpose of the loan agreement is to serve as proof dictating the terms on which the borrower has agreed to repay the loan to the lender. Hence, under the circumstances when there would be a need for the loan, a loan agreement template would be quite useful.

Alternative names for a loan agreement:

  • Money Lending Agreement
  • Personal Loan Agreement
  • Business Loan Agreement
  • A Loan Contract
  • A simple Loan Agreement

Essential Contents of Loan Agreement

A standard loan agreement template includes the following:

  • Contact information about the lender and the borrower
  • Information about the loan repayment. It would include how the loan would be repaid and would highlight the option, which is agreed upon for the loan repayment.
  • Information about the relevant interest if it is charged. Not everyone charges interest.
  • Information on the cosigner, which is usually important if the credit history of a person is not yet established.
  • Loan sales in the standard loan agreement as well.
  • Information on the late fee and what happens if the person who has borrowed the money defaults.
  • Information about the collateral.

Loan Agreement Templates

Simple Loan Agreement Format

Sample Loan Agreement (Short Form)

Sample Loan Agreement (Reverse Mortgage Loan)

Sample Loan Agreement (for Personal Power Loan)

Personal Loan Agreement Form

Loan Agreement Form (Personal Property)

Free Loan Agreement Form

Customer Loan Agreement Form

    Frequently there is disagreement about whether an offer of money is to be a loan or a gift. This type of transaction even leads to lawsuits as, over time, the two parties disagree about the intention of the loan or gift. The best way to prevent this from happening is to sign a loan agreement in the first place. This makes clear to all parties that the transaction is to be paid back. An agreement can also include clauses that will change the loan into a gift if they are completed, such as college graduation.

    This way both parties are clear on all conditions. One of the best ways to draw up your loan agreement is to use a loan agreement template. A template allows editing on screen while you complete the agreement. It is easy to print out drafts of the agreement until both of you reach an understanding.

    The loan agreement template includes sections to describe the amount of money being provided and how it is to be paid to the second party. This includes sections for a lump sum payment or payments over time to the second party. The loan agreement template can also handle payments that don’t include cash directly, such as the use of a car or access to a rental property.

    The loan agreement template starts out clearly listing both parties to the loan and a point of contact for them. It makes clear that each party is entering into this agreement of their own free will to achieve a mutual benefit. It is clear that the parties are responsible for complying with this loan agreement.

    It includes a section that clearly spells out how the loan is to be repaid. The lender can decide if he or she wants monthly payments, payments after several years, payment after obtaining a job, a lump-sum payment, or payment by giving service to the lender. A loan agreement template can handle any and all types of repayment agreements. If you want to add clauses to negate payment or clauses that can change the amount due, a loan agreement template has options for this also.

    When the loan is paid off, the loan agreement template has a place for both parties to sign off that the agreement is complete. This way, both parties have a signed agreement that states the loan has been completed in case there is any future problem with the terms of the agreement. Each loan agreement template can be individually drawn up so that each agreement is individual. Options available include different fonts and colors to produce a quality finished product should the need ever arrive to defend the agreement in court.

    Loan Agreement Forms

    Personal Loan Form

    Loan Agreement Form

    Loan agreement sample

    Simple Loan Agreement Form

    Simple Personal Loan Agreement Template

    Simple Loan Agreement Template

    Simple Loan Agreement Template Word

    Simple Loan Agreement Between Friends

    Short Loan Agreement Template

    Short Form Loan Agreement Template

    Sample Loan Agreement Between Two Parties

    Loan Agreement Template (Between 2 Companies)

    Customer Loan Agreement Template

      Things to Do Before Signing the Agreement

      Before signing the agreement, there are various things, which both parties must consider such as:

      • The borrower and lender both should provide the proof of identification, which would rectify any doubts about them being a fraud.
      • It is important that both the lender and borrower must read the terms of the agreement clearly. They should understand it well and should agree on the terms. A signature by the lender would show that he or she has agreed to the terms of the loan and a signature by the borrower on the loan agreement would show that he or she agrees to the term of the loan agreement.
      • The lender should be aware of the credit history of the borrower and the borrower should be clear on the repayment terms of the loan.

      Loan Agreement Examples

      Sample Short Term Loan Agreement

      Sample Loan Agreement Draft

      Sample Loan Agreement (for Office Employee)

      Sample Loan Agreement (for Education Expenses)

      Sample Legal Loan Agreement

      Repayment Agreement Sample

      Interest Free Loan Agreement Template

      Firearm Loan Agreement Template

        What is best payment schedule to pay the loan?

        The best payment schedule to pay a loan would be the one, which suits the borrower and lender. It would be wise to consider best when the borrower would be able to repay and how he or she would be able to repay the loan.

        It is possible that some lenders would include additional conditions attached to the loan agreement. However, it is extremely important that the terms of the loan are extremely clear for both parties. It is important that the terms are favorable for the borrower, which means that he or she agrees to the terms of the loan agreement. On the completion of the draft, both parties would sign the document in the presence of a witness, which is not always necessary in some cases.

        A legal notary would require the identification proof before the final signatures. It is important to include the information about the co-signer if one is included in the loan agreement. There would be mention of the late fee and the sale of the loan agreement to another party might be included as well.

        Loan Agreement Samples

        Sample Personal Property Loan Agreement

        Sample Personal Money Loan Agreement

        Sample Personal Loan Repayment Agreement

        Sample Personal Loan Installment Agreement

        Sample Personal Loan Agreement with Bank

        Sample Personal Family Loan Agreement

        Salaried Sample Personal Loan Agreement

        Personal Loan Agreement Template

        Personal Business Loan Agreement

        Employee Personal Loan Agreement Template

        Standard Loan Agreement Template

        Short Loan Agreement Template

        Sample Personal Loan Agreement

        Sample Loan Agreement Between Family Members

        Personal Property Loan Agreement

        Personal Loan Agreement Template

        Personal Loan Agreement Template (Short Format)

        Loan Agreement Template (for Student)

        Loan Agreement Template (Between Individuals)

        Fine Arts Loan Agreement Template

        Family Loan Agreement Example

        Family Loan Agreement Template

        Blank Loan Agreement Template

          Frequently Asked Questions

          Is there any interest in the personal loan?

          Charging or not charging the interest on the personal loan depends on the choice of the lender. Many people would not charge interest on personal loans.

          How is the interest charge?

          The amortization schedule gives information on how the interest is charged on the loan. The lender could charge simple interest on the loan or he or she would charge the compound interest. Under compound interest, the interest is charged on the principal plus the interest amount, which is due on the borrower, which hits the borrower quite heavily and makes a person in huge debt.

          Note: Please read our Disclaimer before using any template.

          Keep reading