A private loan agreement template in 2023 is by definition a example of private funding contract which includes the terms and conditions which are agreed between a private lender and a borrower using a common letter sample.
A private loan letter template is dedicated to cover all the details of a private finance agreement between creditor and debtor in order to avoid any future litigation and conflict between both parties.
The private loan agreement example constitutes a contract covering the interests of the lender and borrower on an equal manner and aim to avoid any potential misunderstanding which can happen when it comes to money transactions.
The private loan agreement template in 2023 for a loan shall be kept in a simple wording specifying the relevant data such as: loan amount, interest rate, repayment schedule and potentially any required security or collateral.
PERSONAL LOAN AGREEMENT SAMPLE
This loan agreement is made and will be effective on (DATE)
(NAME OF BORROWER) hereinafter referred to as the “Borrower” with the following address:
(NAME OF LENDER) hereinafter referred to as the “Lender” with the following address:
TERMS AND CONDITIONS OF THE PRIVATE LOAN
Promise to Pay:
Within (NUMBER OF MONTHS) months from today, Borrower promises to pay the Lender (AMOUNT OF THE LOAN) (CURRENCY) and interest as well as other charges avowed below.
Although more than one person may sign this agreement below, each of the undersigned understands that they are each as individuals responsible and jointly and severally liable for paying back the full amount.
Details of Loan Agreed Between Borrower and Lender:
Amount of Loan: (AMOUNT)
Finance fees: (AMOUNT)
Total of payments: (AMOUNT)
ANNUAL PERCENTAGE INTEREST RATE (PERCENTAGE) %
Repayment of Loan:
Borrower will pay back in the following manner: Borrower will repay the amount of this note in (NUMBER OF INSTALMENTS) equal continuous monthly installments of (AMOUNT) each on the (DAY) day of each month preliminary on the (DATE), and ending on (DATE).
Prepayment of Loan:
The borrower is given the right to pay back the whole or partly amount at any time, the lender will refund the unearned finance charge.
Late payment penalty
Any payment not remunerated within (NUMBER OF DAYS) days of its due date shall be subject to a belatedly charge of (PERCENTAGE) % of the payment.
The borrower gives as a security (DESCRIPTION OF THE VALUE)
Failure to pay:
If for any reason the borrower fails to proceed with any payment on time, the Lender can then order instant payment of the entire remaining unpaid balance of this loan without giving anyone further notice.
(SIGNATURE OF LENDER)-------------------------
(FULL NAME OF LENDER)--------------------------
(SIGNATURE OF BORROWER)-------------------------
(FULL NAME OF BORROWER)--------------------------
3. AS WITNESSES:
(SIGNATURE OF WITNESS)-------------------------
(FULL NAME OF WIRNESS)--------------------------
CAR LOAN PERSONAL LOAN WITHOUT COLLATERAL PAYDAY LOAN PAY OFF CREDIT CARD DEBT CONSOLIDATION FOR ENTREPRENEUR FOR STUDENT WITH NO JOB AGAINST PROPERTY AGAINST CAR AGREEMENT TEMPLATE PRIVATE MORTGAGE WITH BAD CREDIT WITHOUT CREDIT CHECK WITHOUT BANK FOR SENIOR CITIZEN WITHOUT GUARANTEE PRIVATE SCHOOL LOAN FOR STARTUP FOR FARMER LOAN SCAM WITHOUT INTEREST PRIVATE MICROCREDIT CASH DONATION IMMEDIATE LOAN HALAL PRIVATE LOAN UNIVERSAL CREDIT LOW INCOME SSI RECIPIENT FOR POOR PEOPLE FOR DISABLED FOR LATINO FOR WOMEN FOR HOUSEWIFE WITHOUT DOCUMENT FOR TRADER WITHOUT SSN PIGGYBACK LOAN FOR MASTER'S DEGREE FOR TAXI WITH IBV FOR DOWN PAYMENT LIST OF PRIVATE LENDERS FOR DIVORCE NO UPFRONT FEE WORLDWIDE LENDER UNITED STATES CANADA AUSTRALIA NEW-ZEALAND UNITED-KINGDOM ICELAND LOAN WITHOUT INTEREST INDIA SOUTH-AFRICA ICELAND PRIVATE LOAN CHINA JAPAN LENDER PHILIPPINES MEXICO IRELAND ISRAEL DUBAI SOUTH KOREA PRIVATE LENDING PAKISTAN FRANCE SWITZERLAND CAR ACCIDENT ATTORNEY MOTORCYCLE ACCIDENT LAWYER GERMANY NETHERLANDS NORWAY SWEDEN DENMARK FINLAND LATVIA GREECE KENYA NIGERIA THAILAND SPAIN ITALY BRAZIL RUSSIA ISRAEL EGYPT CALIFORNIA NEW YORK SMALL LOANS SMALL PERSONAL LOAN MINI MORTGAGE SMALL CAR LOAN SMALL CONSOLIDATION MINI-LEASING INSTANT MINI-LOAN SMALL BUDGETING LOAN SMALL P2P LOAN MINI CROWDFUNDING POOR CREDIT SCORE SMALL PAWN LOAN FOR UNEMPLOYED FOR START-UP FOR BUSINESS REVERSE ANNUITY MORTAGE MINI LOAN STUDENT WITHOUT DOCUMENT NO CREDIT CHECK NO BANK LIST MICROCREDIT COMPANIES ZERO INTEREST NO PROOF OF INCOME EMERGENCY ONLINE QUICK MINI LOAN DEBT REVIEW LOAN RENT DEPOSIT MOBILE APP MINI PAYDAY LOAN FROM FRIENDS FAMILY PRIVATE LOAN COMPANIES LOAN WITH FAKE LENDERS LIST OF PAYDAY LENDERS LIST OF PAWNBROKERS OVERSEAS MINI LOAN GOVERNMENT LOAN WITH DEBT COUNSELLING LOAN WITH IVA LOAN FROM STRANGER COVID-19