Secured Loan Agreements
When to Use this Agreement
People lend and borrow money for all sorts of reasons, whether it’s a friend helping a friend in need or a family member borrowing to buy a car. There are few things more distressing than having a valued friendship break down over money. By putting your loan agreement in writing the parties eliminate doubt and reduce the possibility of a misunderstanding occurring.
This loan agreement sets out the terms and conditions under which "the lender" advances funds to “the borrower” and can easily be modified to suit your needs. The document includes provisions for the Lender to hold a security charge over property or other assets owned by the borrower, to protect the Lender's interests should the borrower default.
This document also includes a Simple Loan Agreement that may be preferred in some circumstances.
Important Note: this agreement is not suitable for consumer credit transactions or where the security is land or buildings.
Your professionally drafted loan agreement is available for immediate download.. The document comes to you as a Microsoft Word and PDF template that can be used as often as you like. Simply insert the correct information in the appropriate field and tab to the next. Now print your professional agreement!
The Contract includes the following provisions -
- Type And Place Of Payments.
- Governing Law.
- Security Interest.
- Lender's Rights And Remedies.
- Benefit Of Agreement.
- Execution In Counterparts.
- Entire Agreement.
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