An unsecured Simple Loan Agreement, suitable for uncomplicated circumstances where a loan is being made to an individual by another individual. It may also be used for a loan to a business by another business or individual. Wording suitable for use in the UK.
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This Simple Loan Agreement template is suitable for uncomplicated circumstances where a loan is being made to an individual by another individual, although it may also be used for a loan to a business by another business or individual.
The Simple Loan Agreement has the option to apply interest to the loan and if interest is to be charged, it is calculated at a monthly rate of one twelfth of a nominated annual rate. There are no provisions allowing an increase or decrease in payments in accordance with an increase or decrease in a published annual base rate. Repayment of the loan may be either on a monthly basis or on demand.
The Word Template version of the Simple Loan Agreement contains the facility to automatically calculate the monthly interest and capital repayments.
You can view a sample online of a completed Simple Loan Agreement by following this link: View Sample.
This agreement is suitable for use in the UK: England, Scotland and Wales. It includes relevant clauses and allows inclusion of details:
This document is available individually or as part of a Full Annual Subscription (£199 own use) - giving you access to wide range of documents, packages and forms for a single annual fee. Similar individual loan documents: