Why Should There Be A Loan Agreement?

Carlglendon20 Jan, 2022Business

Loan agreements are legally binding contracts signed between two parties or more, for formalizing a loan process. There are loan agreements of different types, such as simple promissory notes between family members and friends as well as contracts of a more detailed nature - such as short-term or long-term payday advance loans, credit card loans, auto loans and mortgages.