Personal Loan Agreement

Answer a few questions to create a professional Personal Loan Agreement, ready to edit and sign.

Step 1 of 87 sections · answer each, then create your document

The lender

Is the lender a business or an individual?

Lender's full legal name

For a business, use its registered name, including "LLC" or "Inc." if it has one.

Street address

City

State

ZIP code

Email optional

Used for written notices.

Phone optional

The borrower

Is the borrower a business or an individual?

Borrower's full legal name

For a business, use its registered name, including "LLC" or "Inc." if it has one.

Street address

City

State

ZIP code

Email optional

Used for written notices.

Phone optional

The loan

How do the lender and borrower know each other? optional

This adds a short sentence to the agreement. Leave blank if you prefer not to say.

What is the loan for? optional

For example, "buying a used car" or "paying first-semester tuition."

How much is being lent?

On what date will the lender provide the money?

How will the lender provide the money?

Interest

Will the loan charge interest?

Repayment

How will the borrower repay the loan?

How may the borrower make payments?

Bank transfer

Check

Cash (with a receipt)

Payment app

Late payments and default

Late charge for a missed payment optional

A one-time charge for each late payment. It applies only as far as the law allows.

After written notice of a missed payment, how many days does the borrower have to catch up before being in default?

If the borrower defaults, should the borrower pay the lender's reasonable collection costs, including attorneys' fees?

Yes No

Applies only as far as the law allows.

Property pledged as security for the loan optional

For example, "2019 Honda Civic, VIN 1HGCV1F30KA000000." Leave blank for an unsecured loan.

Final terms

Anything else both of you agreed to? optional

Which state's law should govern this agreement?

Usually the state where the borrower lives or is based.

Preview free · LeaseCraft Annual $19.99/year — unlimited documents · Cancel any time · Templates are not legal advice.

Why LeaseCraft?

Professional formattingAttorney-style structure landlords recognize

Built from your answersNot a blank template — personalized to your situation

Checked before you buyWe flag missing or inconsistent answers

Edit before you payFix typos on preview — no wizard restart

Cancel any timeLeaseCraft Annual $19.99/year