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Revolving Unsecured Financing Agreement

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Revolving Unsecured Financing Agreement Powered By Docstoc
					This is an agreement between a lender and a borrower whereby the lender agrees to
finance the borrower's business on a revolving credit basis. Revolving credit is defined
as a credit plan that does not have a fixed number of payments. This agreement
specifies whether there was an advancement of funds, the interest rate charged, and
the method of loan repayment. This document should be used by small businesses or
other entities that want to either lend or borrow funds on a revolving credit basis.
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                               FINANCING AGREEMENT                                                       o
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This Financing Agreement (the “Agreement”), which is made and entered into as of the _________ __,       yr
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20__, by and between _______________ (“Lender”), a ___________ [state],                                  ig
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_________________[entity], and _____________________ (“Borrower”), a ___________ [state],                ht
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_________________[entity].                                                                               Bi
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WHEREAS Borrower owns and operates a _______________________________                                     re
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WHEREAS Borrower wishes to establish a revolving credit facility with Lender in the amount of            In
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$_________ [AMOUNT];                                                                                     c.
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WHEREAS Lender wishes to advance the requested funds to Borrower in exchange for good and                0
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valuable consideration;                                                                                  0
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WHEREAS it is desirable and in the best interests of the Borrower to enter into the aforesaid credit     A
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facilities; and                                                                                          ll
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NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, it is            g
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agreed as follows:                                                                                       ht
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Section 1. Advanced Funds. Lender shall establish in favor of Borrower a facility of                     re
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$________[AMOUNT] which Borrower can draw down, on a revolving basis.                                    se
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Section 2. Interest Rate. Any and all advanced funds shall bear interest at a rate of [__] percent per   e
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annum. [NOTE: LENDER MAY ALSO ADD LANGUAGE ABOUT "COMPOUNDED DAILY,                                      d.
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"COMPOUNDED MONTHLY," etc.]                                                                              P
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Section 3. Method of Loan Repayment. Borrower shall make all payments called for under this              te
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Agreement by sending check or other negotiable instrument made payable to the following individual       ct
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or entity at the address indicated:                                                                      e
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If Lender gives written notice to 
				
DOCUMENT INFO
Description: This is an agreement between a lender and a borrower whereby the lender agrees to finance the borrower's business on a revolving credit basis. Revolving credit is defined as a credit plan that does not have a fixed number of payments. This agreement specifies whether there was an advancement of funds, the interest rate charged, and the method of loan repayment. This document should be used by small businesses or other entities that want to either lend or borrow funds on a revolving credit basis.
This document is also part of a package Raising Capital Toolkit 9 Documents Included