Sample Loan Agreement in English
This Loan Agreement (the "Agreement") is made and entered into as of [Date], by and between [Lender Name], residing at [Lender Address] (the "Lender"), and [Borrower Name], residing at [Borrower Address] (the "Borrower").
WHEREAS, the Lender desires to loan to the Borrower the sum of [Amount], and the Borrower desires to borrow such sum;
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:
1. Loan Amount and Purpose
1.1 The Lender agrees to loan to the Borrower the sum of [Amount] (the "Loan Amount").
1.2 The Borrower agrees to use the Loan Amount for [Purpose] (the "Purpose").
2. Interest Rate and Repayment Terms
2.1 The Loan Amount shall bear interest at the rate of [Interest Rate] per annum (the "Interest Rate").
2.2 The Borrower shall repay the Loan Amount, together with accrued interest, in [Number] equal monthly installments of [Amount] each, commencing on [Date] and continuing on the same day of each month thereafter until the entire Loan Amount, together with accrued interest, has been repaid in full.
2.3 All payments shall be made to the Lender at [Payment Address].
3. Default
3.1 The Borrower shall be deemed in default of this Agreement if:
- The Borrower fails to make any payment when due;
- The Borrower breaches any other term of this Agreement; or
- The Borrower becomes insolvent or bankrupt.
3.2 Upon the occurrence of any event of default, the Lender shall have the right to:
- Declare the entire unpaid principal and accrued interest due and payable immediately;
- Take any legal action necessary to collect the Loan Amount; and
- Exercise any other remedies available to the Lender under law.
4. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [State/Jurisdiction].
5. Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.
6. Notices
All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, return receipt requested, postage prepaid, or sent by overnight courier service.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
[Lender Signature]
[Borrower Signature]
[Lender Name]
[Borrower Name]
Please note: This is a sample loan agreement and may not be suitable for all situations. It is recommended that you consult with an attorney to ensure that the agreement is tailored to your specific needs.
