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Personal Loan Agreement Template

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The personal loan agreement template is a legal document that would be completed by a lender in agreement with a borrower to establish the terms and conditions of a monetary loan. The Note is legal and binding. This document is considered to be a contract and therefore the borrower shall be expected abide by all terms, conditions and governing laws. Payments must be paid, on time and per the agreement signed by all parties.

How to Write

Step 1 – Establishment of Loan Amount –

  • Enter the loan amount agreed upon by the parties in U.S. currency

Step 2 – The Parties –  Submit the following:

  • Borrower’s name
  • Mailing address
  • City
  • State
  • AND
  • Amount Lender agrees to loan
  • Mailing address
  • City
  • State

Step 3 – Payment – Review the statement:

  • Check the box that best indicates the lender’s repayment preference
  • Complete the required payment information within the selection in mm/dd/yy format
  • Enter the day of each month that the payment shall be due in dd/mm/yy format

Step 4 – Interest –

  • The lender must check the applicable box and indicate an amount of interest (if any)

Step 5 – Titled Sections –  Review the following:

  • Remedies
  • Events of Acceleration (a and b)
  • Acceleration
  • Subordination
  • Waivers by Borrower
  • Expenses (enter the state in which the loan is executed)
  • Governing Law
  • Successors

Step 6 – Signatures -Must be witnessed:

  • Borrower’s signature
  • Printed name
  • AND
  • Lender’s signature
  • Printed name
  • AND
  • Witnesses signatures
  • Printed names