What is your role in this loan agreement? What is your role in this loan agreement? LenderBorrowerGuarantorAgent / RepresentativeOther Enter your role Is the loan secured or unsecured? Is the loan secured or unsecured? Secured: An asset is pledged as security for repaymentUnsecured: Nothing is pledged What is being held as collateral? Collateral security is an asset pledged by a borrower to a lender as a secondary guarantee for a loan. If the borrower defaults, the lender can seize and sell this asset to recover the debt. Will the borrower have to pay interest? Will the borrower have to pay interest? YesNo What's the interest rate? % Maximum interest rate allowable is set by the usury laws in your state. What is the full loan amount? $ When will the borrower make payments? When will the borrower make payments? MonthlyOther Describe: Due on theof each month Monthly payment amount $ The first payment is due on How long does the borrower have to repay the loan? months The final payment is due on Who's the borrower? Who's the borrower? Individual(s)Business How many individuals? 12345 Who's signing on behalf of the business? CEOExecutiveOfficerManaging MemberOther Name Second Borrower's Name Third Borrower's Name Fourth Borrower's Name Fifth Borrower's Name Enter the borrower's mailing address Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code If more than one, list the first borrower's address. Who is the lender? Who is the lender? Individual(s)Business How many individuals? 12345 Who's signing for the company? CEOExecutiveOfficerManaging MemberOther Name Second Lender's Name Third Lender's Name Fourth Lender's Name Fifth Lender's Name Enter the lender's mailing address Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code If more than one, list the first lender's address. Will there be a penalty for late payments? Will there be a penalty for late payments? YesNo Will the late fee be fixed or a percentage of the balance? Fixed AmountPercentage Late fee amount $ Percentage of Balance: % This is based on the balance owed. So if the loan is for $1,000 and the balance is $800, then a late fee of 1% on a missed payment would be $8. Do you want to add any additional terms or conditions? Do you want to add any additional terms or conditions? YesNo Elaborate: Where will this agreement be signed? Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyoming When does this agreement become effective? Next Save Save and finish later
