A loan agreement or loan contract is a written document signed by both the lender and the borrower that sets terms of money that is going to be borrowed by the borrower for a period of time.
A loan agreement will be useful to protect both the lender and borrower interests, it serves as a legal written evidence between both parties. If you want to lend your money to your closest friends or family.
The terms of the loan will need to be clearly defined in this loan agreement document along with the repayment schedule and any applicable interest stated .
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Sunday, December 22nd, 2019
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