A business loan contract is a kind of a contract document made when loan is taken in order to start or run a business. It focuses on defining the terms and conditions based upon which both the parties agree to sign the contract.

Sample Business Loan Contract:

This agreement is made and executed between Interlink Limited herein called the Borrower and Washington Banks limited herein called the Lender.

Borrower:

Address of business: 12, West Washington Street, Washington

Phone: 448980407893

The borrower runs an electronic device manufacturing business and agrees to borrow a sufficient amount from the lender based on certain terms and conditions.

Lender:

Address: 34, ret square, Washington

Phone: 490338890426

The lender agrees to loan the amount required on the basis of repayment within a fixed period of time.

Loan amount: $1500

Starting date of loan : 1’st November, 2010

The amount shall be repaid through monthly installments with 6% rate of interest.

Terms and conditions:

  • Borrower shall pay the loan amount through monthly installments.
  • The payment must be done on the 1’st of each month and in case of late payment, an amount of $100 will be charged.
  • This document is legal by all means and in case of misconduct, can result in charges against breach.
  • There shall not exist any event of default under this agreement at any time during the contract.
  • The borrower is an organization of profit which shall be duly organized at all times and in good standing under the laws of the state.
  • Both the parties must keep the copy of this document at all times during the length of the agreement.

Signatures:

Reggie William (Interlink limited)

Frieda Law (Washington banks)

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