What is a loan?
A loan is a type of borrowing mechanism. It is used to meet the financial needs of people and organizations. Not all people and companies are self-sufficient to meet their needs and requirements. They may require the help or assistance of others to provide financial support.
A loan is a type of financial help that is provided by one party to another in return for some interest payment. On completion of the loan period, the borrower will return both the borrowed amount and the interest on keeping the amount.
The loan contract template is a legal document that is utilized to formalize the loan procedure. It will be designed to contain all the terms and conditions of the loan agreement and will make the loan agreement legally enforceable. Loan contract template is an important piece of document that helps companies and individuals to avoid any sort of future problems. It will be a proof that the borrower has borrowed some amount from the lender and he has to pay this amount back to him after the completion of the loan period. It will help safeguard the interest of both the lender and borrower.
In many cases, the loan is given against a set security or collateral. The loan contract template will contain the information about all such terms and conditions relevant to the loan giving process. So if you also want to safeguard your loan process then use the loan contract template for this purpose.
Loan Contract Template
Microsoft Word document file | File size 41 KB | Download
The file can be downloaded in OpenOffice format (.ods)
File size 18 Kb | Download