Unsecured loan agreement free download

Read More. When people don't have enough money to settle urgent bills or purchase a product or service, they make a promise to pay the other party on a specific time frame. They could be in dire need of cash to spend for something vital but currently don't have the means to do so.

When that happens, you, as the loaner would have to provide a promissory note for the other party, detailing terms about payments, services or goods purchased and rendered, and the time or date that the amount needs to be settled.

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Unsecured loan agreement: person to person; private or business 1 customer review. An agreement between a lender, who may be an individual or a corporate body, and a borrower, who is a individual person or a company.

The loan is unsecured with no guarantor. Likely to be used for family loan arrangement or loan to director by his own company. Provisions to protect the lender. If a company borrows against security, then registration of the charge at the Companies and Intellectual Property Commission CIPC is required, if the lender wants to be given preference over unsecured creditors. Bankruptcy and liquidation law is very complicated. There are rules as to the ranking priority order of different creditors.

A creditor arrangement where the document is registered at the Companies and Intellectual Property Commission takes priority over debts which are not registered. Strangely, it is the company that has the legal obligation to register every charge or debt, even though registration protects the creditor. When the debt is repaid, whether fully or in part, the company has no obligation to inform the Companies and Intellectual Property Commission.

However, it is in the company's own interests that potential investors and lenders are aware that it has satisfied all or part of the debt.

Although we provide explicitly that the company registers the charge, it is best if the lender makes sure this is done. The debt will then be valid against a liquidator or administrator, should the company become insolvent.

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Featured documents Web development contract Confidentiality agreement Website privacy policy. Home Documents Loan agreement templates. Loan agreement templates These loan agreement templates let you document lending of any amount by and to individuals, business partnerships and companies. Download a Template Read More. Loan agreement: company; secured by guarantee 2 customer reviews.

Loan agreement: company; secured on financial instruments 1 customer review. Loan agreement: company borrower; secured on physical assets; guarantor option 2 customer reviews.

Loan agreement: person to person; secured by guarantee An agreement between a human individual lender and borrower. Unsecured loan agreement: person to person; private or business 5 customer reviews. Loan agreement: individual borrower; secured on financial assets 1 customer review. Loan agreement: private borrower; secured on physical assets An agreement between a lender, human or corporate, and a borrower, who is an individual person or partnership and not a company.

Friends and family loan agreement 9 customer reviews. Loan agreement: person to person; property purchase Use this loan agreement template to lend money to family or friends for the purpose of helping to buy a house or flat, or for a renovation project.

Can't find the document you are looking for? Please enter your search words. What is a loan agreement? By making use of a loan agreement, the lender and the borrower can document their arrangement, amongst other terms, on: purpose of the loan loan amount interest payable duration of the loan also know as repayment period how the borrower will repay the loan comprising of principal amount and interest payable.

For example, the borrower can make monthly or quarterly payments regular payments that go towards the principal and interest , pay the total amount on a set date before the maturity date lump sum , or the borrower can follow a repayment schedule regular payments or lump sum security against the loan circumstances in which the loan becomes payable immediately Basic elements of a simple loan agreement A simple loan agreement is likely to state: Borrower: the individual recieving the loan amount and liable to pay it back.

Lender: the individual lending loan amount to the borrower Principal amount: the total amount that the borrower lends Interest: a percentage of the borrowed amount or a fixed sum to be paid to the lender in consideration of making the loan Maturity date: the due date when the term of the loan expires and the borrower must have repaid the loan the principal amount, any accrued interest and fees and expenses Why is it important to use a loan agreement? If there is one contract that should always be in writing, it is a loan agreement.

Why use our loan agreement templates? Suitable for all forms of private lending Our loan contract templates can be used by any person or organisation companies and business partnerships for all forms of private lending. Use these agreements: For short- or long-term lending Regardless of where the two parties are located For loan amount of any size, and with repayment terms of any complexity When lending money to an individual, company, or business partnership When borrowing money from another business Which loan agreement template should you use?

Loan agreement for use if your borrower is an individual person For a very simple loan agreement that has no guarantor and no security, you should use the unsecured loan agreement: person to person; private or business. Loan agreements for use if your borrower is a limited company If your borrower is a company you should always use a secured loan agreement. The terms in these loan agreement templates Each loan agreement template is drawn for circumstances that differ slightly from the others, so the terms in each vary.

Our loan agreement templates include, amongst others, the following terms: Guarantors Almost all the loan agreement templates provide for guarantors — even if the loan amount is secured against other assets as well.

Term duration The time period during which the amount is lent can be any you choose. Interest rate There is no limit in law on the interest rate or the total interest amount that the lender may charge. Loan repayment options Our loan agreement templates provide option that the borrower repay the loan in a staggered approach. We allow optionally for a repayment schedule to be used. The lender is given strong protection All loan agreement templates provide strong protection for the person or party lending the money.