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					A loan contract is a written agreement between a borrower and a creditor. It provides terms, conditions and details
under which the loan is issued. The document outlines the terms of payment, interest rates if any and the amount
loaned and the time frame within which it should be repaid.


                               Sample Loan Contract Template

Parties: The Borrower ______________________.

The Lender _______________________________________.

Date of Agreement: ________________________________________________.

Promised date of Payment: The borrowed amount is to be paid within _____ months from the date of issue.

The borrower hereby promises to clear the loan amounting to_________________________ including interests
and other charges.

Breakdown of Loan: Borrower will pay:

Amount of Loan: __________

Amount to be paid __________

Total interest charged: __________


Total of payments: __________

ANNUAL INTEREST RATE________________%

Repayment schedule: The borrower hereby agrees to repay as follows: Borrower will repay the amount of _____in
equal monthly installments of ____________ _____ due on the first week of each month. This transaction
commences on the _____day of _______, 20____, and ends on _________, 20____.

Security: As security for the loan the borrower submits to the lender this item as described below:

___________________________________________________________________

Offset rights: Incase repayment of this loan goes beyond the agreed date, the lender is entitled use the loan security
submitted by the borrower as compensation without prior notice

Responsibility: The undersigned co borrower agrees that he/she is equally responsible

Agreed To:

______________________________

Lender
______________________________

Borrower

______________________________

Co borrower

				
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posted:9/18/2012
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