Loan Agreement

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									This short form loan agreement is a contract between a borrower and a lender, outlining
the terms of a loan and its repayment. This short-form template document in its draft
form contains numerous of the standard clauses commonly used in these types of
agreements, as well as optional language to allow for customization to ensure the
specific terms of the parties' agreement are addressed. The parties can set the loan
amount, the interest rate, and the monthly payment installments.
                                LOAN AGREEMENT

THIS AGREEMENT (the “Agreement”) is made on the [DAY] of [MONTH] [YEAR] between:

[NAME OF PARTY 1 (BORROWER)] residing at [ADDRESS 1] hereinafter referred to as "the
Borrower”; and

[NAME OF PARTY 2 (LENDER)] residing at [ADDRESS 2] hereinafter referred to as "the
Lender", and together with Borrower the “Parties.”

IN CONSIDERATION of the advancement of funds under the terms and conditions of this
Agreement and other good and valuable consideration, the Parties agree as follows:

       On the execution of this Agreement the Lender agrees to lend to the Borrower the sum of
       [AMOUNT] ("the Loan") on the terms and conditions set out in this Agreement.

       Interest on the Loan shall be calculated at a monthly rate of one twelfth of a nominal
       annual rate, the nominal annual rate being [PER CENT] per cent per annum and shall be
       charged on the balance of the Loan outstanding on a monthly basis. Said interest shall be
       payable by the Borrower to the Lender monthly in arrears.

       The Borrower agrees to repay the Loan on demand.

       The monthly installments of [MONTHLY AMOUNT] have been calculated to allow the
       Loan [and interest thereon] to be repaid in full within [MONTHS] months.

       The Borrower may repay the Loan (and interest accrued thereon) at any time after the
       date of this Agreement without penalty.

IN WITNESS HEREOF these presents are executed on the date before written:



in the presence of

Signature of witness:

© Copyright 2013 Docstoc Inc.                                                          1
Name of witness:
Address of witness:



In the presence of

Signature of witness:

Name of witness:
Address of witness:

© Copyright 2013 Docstoc Inc.         2

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