Loan Agreement template
Principal, interest, repayment, and default terms for a two-party loan.
What this contract contains
Preamble and parties.In the creator you enter each party, pick whether you are lending or borrowing, and set the effective date. Names the loan and each party as Lender or Borrower. Choose your side in the creator.
Loan.In the creator you type the principal amount. This is a simple loan, not a promissory note-only form or a secured credit facility. States the principal and that the borrower will use the proceeds for lawful purposes.
Interest and repayment.You enter the annual rate and choose 12, 24, 36, or 60 months. Prepayment is allowed without penalty. Accrues simple interest and amortizes in equal monthly installments over the chosen term.
Default. Lets the lender accelerate after a late payment, uncured breach, or insolvency.
Notices. Requires written notice, including confirmed email.
Governing law.Governing law and venue decide which state’s rules apply and where a dispute must be filed, or whether it goes to arbitration instead. In the creator you pick a listed jurisdiction or enter another, then choose court or arbitration so the sample is not locked to a default state. Sets the state law that governs the loan agreement and where disputes must be brought. Choose the jurisdiction in the creator.
General. Covers assignment limits, waiver rules, severability, entire agreement language, notices, and counterpart or electronic-signature execution language.
Signature blocks. Authorized signatory and title lines for each party, ready for wet-ink or e-signature fields.
