Friendly Loan Agreement

This Friendly Loan Agreement ("Agreement") is made and entered into by and between the following parties:

Lender: [Your Name]
Address: [Your Address]

Borrower: [Borrower's Name]
Address: [Borrower's Address]

The Lender and the Borrower may each be referred to in this Agreement individually as a "Party" and collectively as the "Parties."

Purpose

The purpose of this Agreement is to outline the terms and conditions under which the Lender agrees to provide a loan to the Borrower, and the Borrower agrees to repay the loan to the Lender, under the terms and conditions detailed hereinafter.

Loan Details

Loan Amount

The Lender agrees to loan the Borrower the principal sum of [Loan Amount] ("Loan Amount").

Interest Rate

The loan will be interest-free unless otherwise specified. If interest applies, the interest rate will be stated as follows: [Interest Rate] % per annum.

Loan Term

The Borrower agrees to repay the Loan Amount within [Loan Term], commencing from the date of receipt of funds by the Borrower.

Repayment Terms

The Borrower agrees to make repayments in installments as follows:
[Repayment Schedule]

Conditions

Prepayment

The Borrower has the right to prepay the Loan Amount in full or in part at any time without penalty.

Default

In the event of default by the Borrower under the terms of this Agreement, the Lender may declare the entire outstanding balance of the Loan Amount due and payable immediately.

Additional Provisions

This Agreement contains the entire understanding between the Parties concerning the subject matter hereof and supersedes all prior discussions, agreements, and understandings of every kind and nature between them.