The Main Components Of A Loan Agreement

Carlglendon20 Aug, 2021Business

A Loan Agreement refers to a contract that is signed between a lender and a borrower, mentioning all the loan granting terms and conditions to the borrower. It is possible to take a loan from a family member, friends or a lending institution. Regardless of who it is given to, a loan agreement is an important piece of document. This is because it is legally binding, and can help settle any dispute that might later arise between the lender and the borrower.