Simple Loan Agreement (Single Lender, Single Borrower)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
💶 Facility agreementBusiness activity
Create loan agreementA facility agreement is a type of agreement that is used to provide financing for a company or individual. The agreement outlines the terms of the loan, including the interest rate, repayment schedule, and any collateral that is required. The agreement also outlines the roles and responsibilities of the lender and borrower.
This template outlines the terms and conditions that both the lender and borrower must adhere to throughout the loan process, ensuring clear understanding and minimizing potential conflicts or disputes. It is specifically designed for situations where there is only one lender and one borrower involved in the transaction.
The agreement covers essential details, such as the loan amount, interest rate, repayment terms, and the timeline for repayment. It also includes clauses related to late payment fees, default consequences, and any additional charges that may be applicable. The template further addresses provisions for early repayment, modification of terms, and communication protocols between the parties.
By utilizing this legal template, both parties can enter into a formal agreement, providing security and clarity for both the lender and borrower. It helps protect the interests of each party involved, outlining their rights and obligations and minimizing the risk of misunderstanding or potential legal complications.
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