Loan Agreement Template for Personal Lending

Formalize private loans between friends, family, or colleagues with this straightforward template. It outlines amount borrowed, interest rate, repayment schedule, and penalties for non-payment.

Key Sections

• Loan Amount: Principal, interest, and any applicable fees.

• Repayment Terms: Schedule, payment method, and default remedies.

• Late Payment Penalties: Clear consequences for missed payments.

• Signatures: Borrower and lender agreement.

Why Use a Written Agreement?

• Prevents misunderstandings and helps enforce repayment.