Free Bank Loan Agreement Form

Please fill out the form with your information below.

Borrower

Lender

Business/Trade References

Terms & Conditions

I. Promise to Pay

On Date, the Borrower has received and promises to pay the Lender, the sum of Borrowed AmountUSD referred to as "Borrowed Money", with interest accruing on the "Interest Rate".

II. Payment

The full balance of this Agreement, including accrued interest and late fees, is due and payable on Due Date, referred to as the "Due Date". The Borrowed Money shall be paid in the following schedule:

a. The Borrowed Money shall be paid via installments beginning on Start Dateand shall continue with payment due Frequencywith any remaining balance due on the due date.

b. If a payment is No. of Daydays or more late, Borrower will be charged Percentage% of the unpaid portion of the regularly scheduled payment.

c. Upon default, including failure to pay upon final maturity, Lender, at its option, may, if permitted under applicable law, increase the interest rate on this Agreement to Interest Rate%. The interest rate will not exceed the maximum rate permitted by applicable law.

III. Default

Each of the following shall constitute an event of "Default" under this Agreement;

a. Payment Default. The Borrower fails to make any payment when due under this Agreement.

b. Other Defaults. Borrower fails to comply with or to perform any other term, obligation, covenant or condition contained in this Note or in any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Borrower.

c. Death and Insolvency. The dissolution of Borrower (regardless of weather election to continue is made), or any other termination of Borrower's existence or the death of the Borrower, the insolvency of Borrower, or the commencement of any proceeding under my bankruptcy or insolvency laws by or against Borrower.

IV. Acceleration

If the Borrower is in default under this Agreement, and such default is not cured within the minimum allotted time stated in Article 2 of this Agreement, then the Lender may, at its opinion, declare all outstanding sums owed on this Agreement to be immediately due and payable.

V. Attorney's Fees and Costs

The Borrower shall pay all costs incurred by the Lender in collecting sums due under this Agreement after a default, including reasonable attorney fees. If the Lender or the Borrower sues to enforce this Agreement or obtain a judgement of its rights hereunder, the prevailing party in any litigation shall be entitled to recover its reasonable attorneys' fees and costs incurred in the proceeding (including those incurred in any bankruptcy proceeding or appeal from the non-prevailing party.

VI. Guarantors

There shall be no person or entity, under the terms of this Agreement, that shall be responsible for the payment, late fees, and any accrued interest other than the Borrower.

VII. Payment Method

The Borrower shall make payments under this loan either in cash, check or any negotiable instrument to any branch of the Lender. In case of dispute, claim or controversy arising due to breach of this agreement., the parties may submit to arbitration chose by both parties. The parties shall divide the cost and expenses to the proceeding in equal shares. Further, the losing party shall pay the cost of attorney's fees of the prevailing party, other than the dispute award.

Lender Borrower

Name: Name:

Date: Date:

Agreement Form Templates @ Template.net