IOU for Business Transaction
IOU for Business Transaction (I OWE YOU)
Date: October 16, 2051
From:
Borrower: [YOUR COMPANY NAME]
Contact Person: [YOUR NAME]
Address: [YOUR COMPANY ADDRESS]
To:
Lender: BridgeField Corporation
Contact Person: Kyle Martinez
Address: 3027 Allison Avenue, Fredericksburg VA 22401
Amount Borrowed: $50,000
Purpose of Loan: To purchase new machinery for production enhancement.
Terms of Repayment:
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Repayment Amount: $5,000 per month
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Repayment Schedule: Monthly
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First Payment Due Date: October 1, 2051
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Final Payment Due Date: September 1, 2052
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Interest Rate (if any): 3% annual interest rate
Additional Terms:
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Prepayment of the loan is allowed without penalty.
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In case of delayed payment, a late fee of $250 per missed payment will be charged.
Signatures:
Lender::
Kyle Martinez
Chief Financial Officer
October 16, 2051
Borrower:
[YOUR NAME]
Senior Loan Officer
October 16, 2051
