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Loan Agreement


A Loan Agreement, also known as a credit facility agreement, is a contract that defines the terms and conditions of a loan. Whether you are lending or borrowing money in order to protect and regulate the interests of both parties it is essential to set out the terms and conditions of the loan from the outset using a Loan Agreement.

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This Loan Agreement template offers flexibility in that the parties involved can be individuals or businesses. In other words this Loan Agreement can be used for a loan to a business by another business or individual, and it can also be used for a loan to an individual by another individual.

This comprehensive Loan Agreement records the terms and conditions of an agreement between two parties under which the Lender lends to the Borrower a specific sum of money over a defined period of time. This Agreement also contains provisions allowing the parties to decide whether the loan is to be guaranteed by a third party (the Guarantor) and whether the loan is either secured or unsecured.

A Loan Agreement with Guarantor provides more security to the Lender that the loan will be repaid since the Guarantor will guarantee payment on behalf of the Borrower.

This Agreement can be used to formalise different types of loans including large commercial loans. It contains a number of clauses covering the breakdown of the loan and interest charges, repayment conditions, representations and warranties, undertakings and provisions in the event of the borrower's default. Please note that the Agreement allows the Borrower to repay the loan and interest within a specified time but the Borrower can also repay the loan and interest at any time by giving notice in writing to the Lender.

As every loan is different and there is no standard loan agreement template that fits all loans, this Agreement has been drafted taking into account the flexible nature of the transaction. It can be edited to suit the particular circumstances and needs of the parties, and it is flexible for loans of any size and repayment terms of any complexity.

N.B.  A Loan Agreement only defines the terms and conditions of a loan; in order to create security for the sum borrowed a separate agreement is also required. A Debenture is a document creating security; it secures a loan using the borrower's assets.

This Loan Agreement is comprehensive, legally binding and up to date with UK law.  

Please note that this Loan Agreement is not suitable for companies in the business of lending or providing credit to consumers as it is not regulated by the Consumer Credit Act 1974.

This Loan Agreement contains the following clauses:

  1. Definitions and Interpretation
  2. Conditions Precedent
  3. Loan
  4. Purpose
  5. Drawings
  6. Interest
  7. Repayment
  8. Prepayment
  9. Guarantee
  10. Representations and Warranties
  11. Undertakings
  12. Insurance
  13. Events of Default
  14. Costs
  15. Payments
  16. Set-off
  17. Notices
  18. Confidential Information
  19. Entire Agreement
  20. Severance
  21. Waiver
  22. Rights of Third Parties
  23. Variation
  24. Assignment
  25. Further assurance
  26. Governing Law and Jurisdiction



This Loan Agreement is in Microsoft Word format, written in plain English, easy to use and edit.

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