Personal Loan Contract
This Personal Loan Contract outlines the terms and conditions for a loan agreement between a Borrower and a Lender. It specifies the loan amount, the date it will be furnished, and details regarding the repayment plan, including the start and final repayment dates. The contract also addresses consequences for failure to repay the loan.
Personal Loan Contract
This contract (“Contract”) is an agreement between [name of borrower], henceforth known as “Borrower,” and [name of lender], henceforth known as “Lender.”
Borrower wishes to borrow [amount in dollars], known as “Loan,” from Lender. Loan will be furnished to Borrower on [date].
Conditions for this Loan are as follows:
Borrower will begin repayment of Loan on [date repayment will begin].
The repayment plan [details of the repayment plan, including any installments, interest, and how payments will be made to lender].
The final date for repayment will be [date].
Failure to repay the Loan within [number of days] of [date] will result in the matter [being turned over to collection, addressed in court, etc.]
Borrower and Lender agree to the conditions above, and sign to that effect in the presence of a notary public on the [date] day of [month], [year].
___________________________ ___________________________
[borrower name] [lender name]
___________________________ ___________________________
[borrower signature] [lender signature]
[notary signature and seal]
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