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.
The loan document form for business is a crucial legal document that outlines the terms and conditions agreed upon by the lender and borrower. It serves as evidence of the loan transaction and protects the interests of both parties involved. This detailed description will shed light on the purpose, components, and different types of loan document forms for businesses, incorporating relevant keywords. The loan document form for business, also known as a loan agreement or promissory note, establishes a legally binding contract between the lender (typically a financial institution or individual) and borrower (a business entity or individual). It outlines the loan amount, interest rate, repayment terms, and other important provisions. Several types of loan document forms cater to different business needs: 1. Promissory Note: This type of loan document emphasizes the borrower's promise to repay the loan amount along with interest within a specific timeframe. It includes details like loan information, interest rate, repayment schedule, and any additional provisions deemed crucial. 2. Secured Loan Agreement: A secured loan document form implies that the borrower pledges specific collateral (e.g., real estate, equipment, or inventory) to secure the loan. This form protects the lender's interests as they can seize the collateral if the borrower fails to repay the loan as agreed. 3. Unsecured Loan Agreement: Unlike the secured loan form, the unsecured loan agreement does not require collateral. The lender relies on the borrower's creditworthiness and trustworthiness to receive repayment. This type of agreement usually involves higher interest rates due to increased risk for the lender. 4. Line of Credit Agreement: A line of credit document form establishes an arrangement where the borrower can access a predetermined credit limit as needed. It outlines the terms for borrowing, repayment, interest rates, and conditions to utilize the line of credit effectively. 5. Term Loan Agreement: This loan document form establishes a fixed borrowing amount and repayment timeline. Typically, a term loan encompasses a lump sum borrowed by a business, with specific interest rates and scheduled repayments over a set period, usually several years. 6. Equipment Financing Agreement: Specifically designed for procuring equipment, this loan form allows businesses to obtain financing for purchasing or leasing equipment required for their operations. It outlines lease or purchase terms, interest rates, repayment plans, and often includes provisions regarding equipment maintenance and insurance. 7. Small Business Administration (SBA) Loan Agreement: SBA loan document forms are specific to loans guaranteed by the Small Business Administration. These agreements outline the terms and conditions for loans that assist small businesses in securing financing with favorable interest rates and extended repayment periods. In conclusion, the loan document form for business is a vital legal agreement that safeguards the interests of both lenders and borrowers. Its various types, such as promissory notes, secured and unsecured loan agreements, lines of credit, term loans, equipment financing agreements, and SBA loan agreements, cater to different business requirements. These loan documents provide clear guidelines regarding loan terms, repayment schedules, interest rates, and any additional provisions necessary for a successful financial relationship between lenders and borrowers.
