This package includes the essential forms needed for making and collecting a personal loan. These forms are an important tool for avoiding future misunderstandings and disputes. Purchase of this package is a savings of more than 50% over purchase of the forms individually!
The following forms are included in this package:
Unsecured Installment Payment Promissory Note for Fixed Rate - This is a Promissory Note for your state. The promissory note is unsecured, with a fixed interest rate, and contains a provision for installment payments.
Secured Promissory Note - This form is a secured Promissory Note. The note includes a provision which describes the collateral to be used as security on the loan. The form also contains a section which details various actions which would constitute default on the note.
Personal Guaranty - General - This form is a Guaranty. The form provides that the guarantor assures the full and prompt payment of all obligations incurred by the payor.
Sample Letter for Past Due Balance - This is a sample notice for use when a debtor is overdue in payments on a promissory note. A time period for making payment before further action is taken, which may be modified to suit your needs, is provided.
Complaint for Past Due Promissory Note - The form is a complaint for a default on payments due pursuant to a promissory note. The complaint adopts the "notice pleadings" format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another.
Promissory Note with Installment Payments - This form is a Promissory Note. The form provides that the borrower promises to pay the lender in monthly installments. The agreement also provides that there will not be a pre-payment penalty on the note.
Notice of Default in Payment Due on Promissory Note - This form is a notice of a failure to make a required payment when due pursuant to a promissory note. The form also contains a warning to the breaching party that legal action will be taken unless the breach is remedied on or before a certain date. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a notice in a particular jurisdiction.
Resolution of Meeting of Corporation to Make Specific Loan - This form is a resolution of meeting of a board of directors or shareholders to make specific loan. This form may be easily modified for use by other business entities.
Receipt for Payment of Account - This form is a Receipt. The form provides that the undersigned acknowledges the receipt of a certain sum of money which constitutes payment on the account named in the receipt. The receipt also lists the balance remaining on the account, if applicable.
Promissory Note with Confessed Judgment Provisions - This form is a Promissory Note with Confessed Judgment Provisions. The maker of the note promises to repay a loan received from the lender, with interest. The form provides that if the maker defaults upon the loan, the lender may exercise the option of demanding the immediate payment of the entire loan. The debtor agrees to have judgment entered in the lenders favor if court action is brought to enforce collection.
Balloon Unsecured Promissory Note - This form is a model balloon promissory note, with a fixed interest rate. A balloon note is structured such that a large payment is due at the end of the repayment period. Adapt to fit your specific circumstances.
A loan agreement form in Nigeria is a legal document that outlines the terms and conditions between a lender and a borrower for the provision of a loan. This form serves as a written contract to protect the rights and obligations of both parties involved in the lending transaction. In Nigeria, various types of loan agreement forms exist, each designed to suit particular loan purposes and circumstances. Some common types of loan agreement forms in Nigeria include: 1. Personal Loan Agreement Form: This form is used when an individual borrower seeks a loan from a personal acquaintance, family member, or friend. It outlines the loan amount, repayment terms, interest rates (if any), and any collateral provided. 2. Business Loan Agreement Form: This form is employed when a business entity borrows funds from a financial institution, such as a bank or a microfinance institution. It includes details about the loan purpose, repayment schedule, interest rates, and any collateral or guarantees required. 3. Mortgage Loan Agreement Form: This type of loan agreement form is utilized in real estate transactions, where the borrower pledges their property as collateral to secure the loan. It includes information about the property, loan amount, interest rates, repayment terms, and foreclosure rights. 4. Student Loan Agreement Form: This form is specific to educational loans, where students borrow money to finance their studies. It outlines the loan amount, repayment terms, interest rates, and any conditions related to loan forgiveness or deferment. 5. Microfinance Loan Agreement Form: This form is utilized by microfinance institutions that provide loans to individuals and small-scale businesses with limited access to traditional banking services. It includes details about the loan amount, repayment terms, interest rates, and other specific requirements. 6. Syndicated Loan Agreement Form: This form is used in more complex loan arrangements involving multiple lenders pooling their funds to finance a larger project or transaction. It specifies the roles and responsibilities of each lender, repayment terms, interest rates, and any collateral provided. In all loan agreement forms in Nigeria, it is vital to ensure clarity, precise terms, and adherence to legal requirements. It is recommended to seek legal advice prior to drafting or signing a loan agreement form to safeguard the interests of both parties involved.
