Loan agreement template
Document a personal or business loan with a comprehensive agreement covering principal, interest rate, repayment schedule, collateral, and default consequences. Protect both parties with a signed, legally binding record.
What this template covers
- Lender and borrower identification
- Loan amount and disbursement date
- Interest rate and calculation
- Repayment schedule and method
- Collateral (if applicable)
- Default and remedies
- Prepayment terms
Common use cases
How to send a loan agreement for e-signature
- Upload your document — drag and drop your loan agreement PDF into SignOwl, or use our template as a starting point.
- Add signature fields — use AI field detection to automatically place signature, date, and name fields, or add them manually.
- Send for signing — enter the signer's email and hit send. They'll get a link to sign from any device.
- Get the signed copy — both parties receive the signed document with a tamper-proof audit trail and SHA-256 verification.
Frequently asked questions
What's the difference between a loan agreement and a promissory note?
A promissory note is a simple repayment promise. A loan agreement is a bilateral contract with obligations on both sides — terms for disbursement, events of default, collateral, and lender remedies.
Should personal loans be documented with a loan agreement?
Yes — especially for amounts over $1,000 or loans to family. A signed agreement prevents misunderstandings about whether it's a loan or a gift, and defines repayment expectations clearly.
Can I charge interest on a personal loan?
Yes, but check your state's usury laws for maximum allowable rates. The IRS also sets an Applicable Federal Rate (AFR) — loans between family members should be at or above AFR to avoid gift tax implications.
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