Sample Loan Agreement

A sample loan agreement is a document created when an individual takes financial help from a financial organization. The document gives details like the amount of loan taken and also the time period in which the person needs to return the loan. The document prevents any confusion arising between both the parties in future.

Sample Loan Agreement:

The specific loan agreement is being made between the Borrower Blender’s Pride Financial Organization and the Lender Mr. Jack Daniels as per the laws of Los Angeles. Both the Lender and the Borrower needs to follow the terms and conditions mentioned in the agreement which are as follows:

  • The Lender will lend the Borrower a total amount of $100000.
  • The Borrower has to return the total amount within a stipulated period of ten years at an interest rate of 10 percent per annum.
  • In case there is a delay in paying the installment by the due date of a specific month, the Borrower will be charged a late payment fee.
  • In case if the Borrower is unable to pay the installment for three consecutive due dates, he will be considered a defaulter.

The signature of both the parties is mentioned below as they have agreed to all the terms of the agreement:

Lender                                                                                                     Borrower

Gary Seines                                                                                             Jack Daniels

(Branch manager of Blender’s Pride Financial Organization)               Date: 12th November, 2010

Date: 12th November, 2010

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Liability Clause:

All the partners are liable for their own conduct and if any misbehaviour noticed from any of the partner then other two partners will not be liable for his/ her misconduct.

Termination & Renewal:

This agreement can be renewed after a year if no discrimination and misconduct is being followed by the any of the partner. In case of any violation encounters to the above mentioned terms can lead to the termination of the agreement.

Singed by the Partner 1:

Joan Watson

Signature by the Partner 2:

Andres Abraham

Signature by the Partner 3:

Rosy Atkinson

Witness 1:

Jenna Williams

Category: Loan Agreements

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