Loan agreement
Document overview
England & Wales
Scotland
- Length:11 pages (3590 words)
- Available in:
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About this document
This agreement is suitable where the borrower is an individual. The lender could be another individual, or a company.
The lender takes security against intangible assets such as company shares, debts, or intellectual property. We also include an optional provision for a third party guarantee, since a guarantor often provides additional incentive not to default.
The purpose of the loan is not important. It could be used to consolidate existing debt, to expand a business or for short term financing.
Examples of use are:
where a company loans money to a director-shareholder against his or her shares
for a personal loan between friends, where the borrower pledges a share portfolio as security
Either or both parties may be in the UK or abroad, and the agreement can be used for loans of any size.
Similar documents
If the borrower is a company, then this contract is more suitable. It contains additional provisions such as to ensure that the shareholders do not restructure the share capital company so as to make worthless the secured shareholding.
You can also read more about securing a loan appropriately.
Contents
Structure of the loan
Alternative draw down arrangements
Provisions of information to lender to allow valuation
Repayment and interest payment arrangements
Method of payment
Provision for default situations
Borrower's warranties
A round up of legal matters
Drawn outside the Consumer Credit Act 1974, this agreement is not suitable for companies in the business of lending or providing credit to consumers.
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Recent reviews
2. The manner you have structured yourselves and marketing strategy is really uniform, seamless and user friendly.
3. The Borrower's warranties and security clauses as applied to an individual Borrower.
4. The realisation that the thrust in an agreement is based on simplicity, understanding and to capture what you agree upon. My view is that it may be necessary to include dispute resolution, if not, why.
5. Most definitely. It is easy to follow your agreement and at the same learn from it.
I would definitely use it again.
Stephen M
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