20+ Loan Agreement Templates - Word Excel PDF Formats

Loaning your money can give a handsome amount of interest to you in return but it must be done with a properly written loan agreement and you can get help from loan agreement templates to write spotless loan agreement yourself. At the bottom of page you will find a great collection of loan agreement templates that can be used for different types of loan. Loan agreement is a legally binding agreement entered into between loan Provider Company and customer stating all essential details and conditions about the loan transaction. Loan agreement is a legal written evidence of a loan transaction and can be enforceable by law in case of breech of agreement from any involved party.

Usefulness of loan agreement templates

Loan agreement is a document signed by both borrower and lender of money in which the money borrower promises with the lender to pay back a loan according to mentioned terms and conditions by following a specified loan repayment plan. Having a written loan agreement at place is beneficial for both lender and borrower because it is the legal way to make sure that the borrower will must return the loan amount with specified percentage of interest in give timeframe otherwise the lender will take a legal action against the borrower.

Loan agreement may indicate details about loan transaction such as name of both parties, their contact details, specified sum of money as loan, interest rate, duration of the loan and other conditions etc. A detailed written loan agreement can protect you as a money lender because it legally enforces the borrower’s pledge to repay the loan as agreed in the agreement in order to stay away from any legal action. Loan agreement templates are listed below here that anyone can download and customize to prepare a loan agreement eliminating errors and mistakes.