Loan Agreement Template
A loan agreement is a written record of money lent between two parties, setting out the amount, repayment schedule, and any interest owed.
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How to create a loan agreement
Set the loan terms and have both parties sign.
Open the template
Open our loan agreement template to begin recording all the important loan details.
Fill in the template
Fill in the loan amount, repayment terms, and both parties' contact details.
Download the template
Download the completed agreement as a ready-to-sign PDF file for signing.
What is a loan agreement?
A loan agreement is a written contract between a lender and a borrower that spells out how much money changes hands and how it will be paid back. It works as a personal loan agreement template for money lent to a friend, a family loan agreement template for relatives, or a sample loan agreement between two parties in any private arrangement. Once signed, it gives both sides a clear record to refer back to if a dispute over payments ever comes up.
Key Takeaways
- A loan agreement records money lent and owed
- Sets a repayment schedule and interest
- Signed by both the lender and borrower
What does a loan agreement look like?
A loan agreement usually opens with the names and addresses of the lender and borrower, followed by the loan amount and the date it was issued. Next come the repayment terms, interest rate, and due dates, then a section on late fees or default. A printable loan agreement template ends with signature lines for both parties and any witnesses.
What should a loan agreement include?
A complete loan agreement names the lender and borrower, states the loan amount, and sets a repayment schedule with due dates and any interest rate. Many people start from a simple loan agreement template word document they can edit for their own terms, or a loan repayment agreement template that focuses on how installments are paid. It should also cover what happens if a payment is missed and require signatures from both parties to make it binding.
Does a loan agreement need to be notarized?
Most loan agreements do not need notarization to be enforceable; a signature from both the lender and borrower is usually enough. Some states or larger loan amounts benefit from notarization, since it adds a layer of proof that both parties agreed to the terms. Check your local rules if the loan is large or if you want extra protection against a dispute.
Is a blank loan agreement form right for any loan?
A blank loan agreement form works well for a personal loan agreement template, a family loan agreement template, or a small loan between two parties. Once you fill in the loan amount, repayment terms, and both signatures, you can save the loan agreement form PDF for your records or print a printable loan agreement template to sign by hand.
Frequently asked questions
