Loan Agreement

Loan Agreement

Pricing: $75

Delivery Timeline: Next Day

A loan agreement, also referred to as a term loan is a vital contract used to document a financial agreement between two parties, the lender and the borrower. It includes loan repayment conditions used for various types of loans like business loans, student loans, real estate purchase loans, personal loans between friends and family, down payments, and much more.

 

At Lawyak, our team of professional lawyers is here to guide you on getting an easy loan agreement. The agreement will include:

  • The amount of the loan

  • The rate of interest

  • The duration of repayment plan

  • Payment dates so that both the parties have a clear outline of the terms of the loan.

 

Loan agreements are divided into three types:

  • Business to Business Loan Agreement: This is when usually a major business firm lends money to another company such as a startup or small business.

  • Business to Individual Loan Agreement: This is when a business, such as a real estate lender provides loans to an individual, such as a mortgage.

  • Individual to Individual Loan Agreement: This is when one person privately lends money to another, such as a family member or a friend.

 

A loan agreement also includes:

  • Method of Payment: The method of payment denotes how the borrower intends to pay the lender.

  • Repayment Timetable: The schedule features till when does the loan need to be repaid. This is done in two ways:

  1. Fixed date

  2. Notice to compensate/demand loan agreement

 

Lawyak's team of certified lawyers will help you prepare legally binding contracts which can be used for a smaller loan with simple repayment terms, and typically only includes the borrower's signature.

 

The timely provision of funding is a must component of almost every documentation. Our knowledge and expertise benefit in making loan managers in providing the necessary financing for personal loans, business loans, educational loans, housing loans, and so on.

 

How Will the Loan Agreement Benefit You?

 

Creating a written loan contract benefits both the borrower and the lender. Our lawyers will answer all your doubts and queries with finesse to ensure you are on the right track. As a borrower, your loan agreement should help you track the payment schedule, such as the interest rate and aid in receiving the lender’s agreement to the payment terms.

Likewise, as a lender, your document should enforce the borrower's promise to pay back the loan. It should allow recourse in case the borrower fails to make payments or defaults on loan.

 

Why Lawyak?

 

Our focus lies in:

  • Providing legal advises and services personalized to your business needs

  • Delivering our services efficiently to give you the solution you have been anticipating

  • Keeping you updated on the current laws and regulations. Our team of expert lawyers is well-read with the constantly changing rules and regulations

  • Understanding your concerns and providing solutions to all the confusions, questions, and disputes regarding loan agreements

  • Offering an array of services at affordable prices

 

Lawyak’s team of experienced lawyers provide legal services that are customized as per the client’s needs. Our services can be picked online at a nominal fee. We understand that it is a time-consuming process to visit a legal firm office and get your loan agreement. Therefore, Lawyak provides the option of offering all our legal services online. So, you are just a click away to get your legal documents or agreement instantly.

 

Get in touch with us to resolve all your legal matters today.

©2018 by Lawyak. Website & Marketing By Rapid Boost Marketing

©2018 by Lawyak. Website & Marketing By Rapid Boost Marketing

Address: Prowse Chowne LLP

#1300 Phipps-McKinnon Bldg.

10020 – 101A Avenue Edmonton, Alberta          

Canada T5J 3G2

Phone No:     866-881-2462

Fax:                  780 439 0475

Email:             contact@lawyak.com

Office Time:  Monday to Friday: 8:30 am – 5:00 pm

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