Adam Frankel
General Counsel · Technology & AI
15+ years as General Counsel to technology, cloud & AI companies
Loan Agreement by EasyLegalDocs
EasyLegalDocsUpdated 17 Oct 2025
This Loan Agreement template outlines the terms and conditions for a loan between a Lender and a Borrower. It details the loan amount, interest rate, repayment schedule, and payment methods. The document also includes provisions for late payments, default, collateral, prepayment, representations, acceleration events, governing law, and dispute resolution.
LOAN AGREEMENT
This Loan Agreement (“Agreement”) is made and entered into as of _______,
BY AND BETWEEN: | Lender: ______________, with a principal address at ____________________________. |
AND: | Borrower: ______________ with a principal address at ____________________________. The Lender and Borrower may each be referred to individually as a "Party" and collectively as the "Parties." |
LOAN TERMS
1.1 Loan Amount
The Lender agrees to loan the Borrower the principal sum of $_______ (the “Loan”) on the terms and conditions set forth in this Agreement.
1.2 Interest Rate
The Loan shall bear interest at a rate of _______% per annum, calculated on the outstanding principal balance.
1.3 Repayment Terms
The Borrower shall repay the Loan as follows:
Installment Payments: The Borrower shall make _______ equal monthly/quarterly payments of $_______, beginning on _______ and continuing until _______.
Final Payment: The final installment shall include all outstanding principal and accrued interest.
PAYMENT METHOD
All payments shall be made via _____________________ to the Lender’s designated account at:
Bank Name: ________________________________________
Account Number: ____________________________________
Routing Number: ____________________________________
or any other method agreed to in writing by the Lender.
LATE PAYMENT AND DEFAULT
3.1 Late Payment Penalty
If the Borrower fails to make a scheduled payment within _______ days of the due date, a late fee of $_______ shall be assessed.
3.2 Default
The Borrower shall be considered in default if:
Any payment remains unpaid for more than _______ days beyond its due date.
The Borrower becomes insolvent or files for bankruptcy.
The Borrower makes any false statements regarding their financial condition.
Upon default, the entire outstanding Loan balance, including accrued interest, shall become immediately due and payable at the Lender’s sole discretion.
COLLATERAL (IF APPLICABLE)
As security for repayment of the Loan, the Borrower hereby grants the Lender a security interest in __________________________________________________________________________________________________________________________________________________________.
In the event of default, the Lender shall have the right to take possession of and sell the collateral to satisfy the debt.
PREPAYMENT
The Borrower may prepay the Loan in whole or in part at any time without penalty. Any prepayments shall first be applied to outstanding interest before reducing the principal balance.
REPRESENTATIONS AND WARRANTIES
6.1 Borrower’s Representations
The Borrower represents and warrants that:
They have the legal capacity to enter into this Agreement.
The Loan will be used for _____________________.
They have the financial ability to repay the Loan in full.
6.2 Lender’s Representations
The Lender represents and warrants that:
They have the legal right to provide the Loan.
No third-party approvals are required for the Loan.
EVENTS OF ACCELERATION
The Lender may declare the entire Loan balance due immediately if any of the following occur:
The Borrower fails to make a payment within _______ days of the due date.
The Borrower defaults on any other financial obligation.
The Borrower transfers or sells a significant portion of their assets without the Lender’s prior written consent.
GOVERNING LAW AND DISPUTE RESOLUTION
8.1 Governing Law
This is a preview. The full template is free on GitLaw.
United States note
This version is drafted for US law generally. Contract, employment and consumer rules vary by state — for example on non-competes and at-will employment. Tell GitLaw which state applies and it adjusts the draft.
Jurisdiction
United States of America
Document info
HTML document. Document created on Wed Sep 10th, 2025. Last updated on Fri Oct 17th, 2025.
This document is public
Licensed under CC BY 4.0 (Attribution).
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