What is a Loan Agreement?
A Loan Agreement is a legal document between the borrower and lender that outlines how money will be borrowed and repaid. A Loan Agreement is useful as either the borrower or lender because it provides a written commitment to terms which are clearly documented.
What You Get
Do I need a Loan Agreement?
If you’re lending a significant amount of money, you’ll want to use a loan agreement to improve your chances of enforcing your rights if the other party fails to pay you back. Having a written agreement also provides clarity about what you are both agreeing to do and gives clear timeframes for the repayment of money.
Frequently Asked Questions
Your Loan Agreement will be tailored to your individual needs but will usually include terms about: the amount borrowed, repayments, interest, fees, relevant security and termination.
Every situation is different, which is why you need expert advice from a commercial lawyer. We’re small business specialists, so you know you’re in safe hands with us.
We’ll consider your unique situation and let you know if we think this is right for your business.
Our head office is at Inspire Cowork – a coworking space in Sydney – but we also support flexible work for our team. Our lawyers can work from anywhere.
We use technology to come to you, wherever you’re located around Australia. Many of our clients work from home or at coworking spaces, just like us.
We communicate with our clients via phone, email and Zoom – whatever works best for you. There’s no need to meet face to face, but if you’re ever in the area you’re welcome to drop in!
Generally it takes around 2 weeks to complete a drafting project from start to finish. If you have asked us to prepare more than one document, we’ll try to complete them at the same time to speed things up.
If something is urgent or you are working to a deadline, please let us know ahead of time and we will do our best to meet your timeline.