Document background
The Short Term Loan Agreement is commonly used in Singapore for facilitating temporary financing needs, typically ranging from a few months to one year. This document is essential when businesses or individuals require bridge financing, working capital, or immediate funds for specific projects. The agreement, governed by Singapore law, must comply with local banking and moneylending regulations, including interest rate caps and disclosure requirements. It includes comprehensive details about the loan terms, repayment schedule, security arrangements (if any), and default provisions, providing a clear framework for the lending relationship.
