Commercial loan Agreement


A commercial loan agreement is an official document which is commenced between the financial institution and an interested borrower for lending money to initiate the commercial development. Such an agreement is legitimately designed and signed by both the parties after accepting the typical rules & regulations.

Sample Commercial loan Agreement:

Agreement Number: 5869/ CLA

Date: January 29th, 2011

This commercial loan agreement is prepared and registered between:

Details of the Banker:

Name: American Industrial Development Bank

Contact number: 7989 253 5768

Hereinafter referred as the banker

AND

Details of the Organization:

Name: Rainbow Marketing Pvt. Ltd

Phone number: 4858 689 7989

Hereinafter referred as the borrower

The borrower and banker are commencing a commercial loan agreement by accepting the official term & condition.

This agreement is starting from January 30th, 2011 and is ending on January 30th, 2013.

Term & conditions:

  • The banker has passed the requested loan amount of $ 45, 0000 for the duration of two years.
  • The borrower will pay a monthly instalment of $ 5670 at the rate of 6% to the banker, whereas the 50% amount will be allowed to use after clearing three month instalments in advance.
  • Any late payment will be entertained with 5% of instalment as additional amount.
  • In case of any payment violation, the agreement will be treated as cancelled.

Acceptance of the commercial loan agreement:

Singed by the Banker:                                   Singed by the Borrower:

Anna Smith                                                   Jim Hurley

Category: Commercial Agreements

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