Document background
The Simple Contract For A Loan is designed for use in situations where one party wishes to lend money to another under English and Welsh law. It provides essential protection for both lender and borrower while avoiding unnecessary complexity. This document is particularly suitable for private lending arrangements, small business loans, or straightforward commercial lending situations where complex security arrangements aren't required. It includes fundamental elements such as loan amount, interest calculations, repayment terms, and default provisions, while ensuring compliance with relevant legislation including the Consumer Credit Act 1974 where applicable.
