Simple Loan Agreement Template

Loan Agreement
This Loan Agreement ("Agreement") is made and entered into on [Date], by and between [Lender's Full Name], residing at [Lender's Address] ("Lender"), and [Borrower's Full Name], residing at [Borrower's Address] ("Borrower").

1. Loan Amount and Disbursement
The Lender agrees to loan the Borrower the amount of $[Loan Amount] (the "Loan"). The Loan will be disbursed to the Borrower's account on or before [Disbursement Date].

2. Interest Rate
The Loan will bear interest at an annual rate of [Interest Rate]% starting from the date the Loan is disbursed.

3. Repayment Terms
The Borrower agrees to repay the Loan in [Number of Installments] monthly installments of $[Installment Amount] each, commencing on [First Payment Date] and continuing on the same day of each subsequent month until the Loan is fully repaid.

4. Prepayment
The Borrower may prepay the Loan in full or in part at any time without penalty.

5. Default
In the event of default, the Lender may declare the entire unpaid balance of the Loan immediately due and payable. Default occurs if the Borrower fails to make any payment within [Number of Days] days of the due date.

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

7. Miscellaneous
This Agreement constitutes the entire agreement between the parties. Any amendments must be in writing and signed by both parties.

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

[Lender's Signature]
[Lender's Printed Name]

[Borrower's Signature]
[Borrower's Printed Name]