Loan Contract Template

Loan Contract Template
This Loan Contract (the "Agreement") is entered into on this [Date] by and between [Lender Name], with a principal place of business located at [Lender Address] ("Lender"), and [Borrower Name], with a principal place of business located at [Borrower Address] ("Borrower").

1. Loan Amount and Disbursement
The Lender agrees to loan the Borrower the principal sum of [Amount] (the "Loan Amount"). The Loan Amount will be disbursed to the Borrower’s account upon execution of this Agreement.

2. Interest Rate
The Loan Amount shall accrue interest at a rate of [Interest Rate] per annum. Interest will be calculated on a [Daily/Monthly/Annual] basis and will be added to the Loan Amount as per the schedule outlined in Section 5.

3. Repayment Terms
The Borrower agrees to repay the Loan Amount, along with accrued interest, in [Number of Installments] installments of [Installment Amount] each, commencing on [Start Date]. Payments will be due on the [Due Date] of each month.

4. Late Payment Penalties
In the event that the Borrower fails to make a payment on or before the due date, a late fee of [Late Fee Amount] will be charged. Continued failure to make payments may result in legal action to recover the outstanding balance.

5. Prepayment
The Borrower may prepay the Loan Amount, in whole or in part, without penalty. Any prepayment will be applied to reduce the outstanding principal balance and may alter the repayment schedule.

6. Default
If the Borrower defaults on the repayment terms as defined in this Agreement, the Lender may declare the entire remaining balance of the Loan Amount, together with accrued interest, immediately due and payable.

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

8. Amendments
No amendment to this Agreement shall be effective unless in writing and signed by both parties.

9. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral.

10. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

[Lender Signature]
[Lender Name]
[Title]

[Borrower Signature]
[Borrower Name]
[Title]

Appendix A

• Loan Amount: [Amount]
• Interest Rate: [Interest Rate]
• Repayment Schedule: [Detailed Schedule]
• Late Fee: [Late Fee Amount]

Note: This template is provided for informational purposes only and may need to be adjusted based on specific legal requirements and individual circumstances.