Loan Agreement

Key elements include:

• Loan amount and disbursement details
• Interest rate (fixed or variable)
• Repayment schedule (installments or lump sum)
• Collateral/security (if any)
• Default and penalty clauses
• Loan term (duration)
• Conditions for prepayment or early repayment

For lenders, it ensures repayment terms are clear and enforces collateral or security to protect against non-payment. For borrowers, it provides transparency regarding the loan conditions, preventing unfair practices and ensuring no hidden fees or terms.

Yes, changes can be made, but they require mutual consent from both parties. Any amendments must be documented in writing and signed by both the lender and borrower.

In case of default, the lender can take legal action, claim collateral (if any), or impose penalties as outlined in the agreement. It’s important to clarify the default terms to avoid disputes.

Yes, you can make up to 2 revisions to the draft after receiving it, ensuring it meets your exact needs.

No, our services are available to businesses worldwide, and we can tailor the agreement according to your local laws.

Absolutely. We ensure full confidentiality and protect your personal and business information as part of our professional commitment.