Loan Agreement Sample

Lender: [Lender's Full Name], residing at [Lender's Address].

Borrower: [Borrower's Full Name], residing at [Borrower's Address].

Principal Amount: The Lender agrees to loan the Borrower the principal sum of $[Amount] (the "Loan").

Interest Rate: The Loan shall bear interest at a rate of [Interest Rate]% per annum, calculated on the basis of a 365-day year.

Repayment Terms: The Borrower agrees to repay the Loan in [Number of Payments] equal monthly installments of $[Amount] each, commencing on [Start Date] and continuing on the same day of each month thereafter until the Loan is repaid in full.

Prepayment: The Borrower may prepay the Loan in full or in part at any time without penalty. Any partial prepayment shall be applied first to accrued interest and then to the principal amount.

Late Fees: If any installment payment is not made within [Number of Days] days after its due date, the Borrower shall pay a late fee of $[Late Fee Amount].

Default: In the event of default, which includes but is not limited to non-payment of installments, the Lender may declare the entire remaining principal balance and accrued interest immediately due and payable. Default may also include bankruptcy or insolvency of the Borrower.

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of [State].

Dispute Resolution: Any disputes arising out of or in connection with this Agreement shall be resolved through mediation, and if necessary, through arbitration, in [City, State].

Amendments: This Agreement may be amended only by a written agreement signed by both parties.

Signatures: Both parties agree to the terms and conditions set forth in this Agreement.

Lender's Signature: __________________________
Lender's Printed Name: _______________________
Date: _______________

Borrower's Signature: ________________________
Borrower's Printed Name: _____________________
Date: _______________

Witness:
Witness's Signature: _________________________
Witness's Printed Name: ______________________
Date: _______________

Notary Public (if applicable):
Notary's Signature: ___________________________
Notary's Printed Name: ________________________
Commission Expiration Date: _______________