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Simple (1-Page) Loan Agreement Template

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simple (1-page) loan agreement is a written contract formed between a party that lends money and another that receives it. The purpose of the document is to set the legally binding terms that will remain in place until the loan is paid off, such as the payment schedule the borrower will be required to follow. All of the document’s contents fit on a single page, reducing its complexity while still maintaining the necessary terms and conditions to effectively bind the parties.

How to Write

Download: Adobe PDF, MS Word (.docx), OpenDocument (.odt)

Step 1 – General Information

The top section of the contract establishes the basic information of the loan. Here we will need to enter:

  1. The name and address of the borrower (person receiving the lent money);
  2. The name and address of the lender (person or entity providing the money to the borrower);
  3. The loan amount, starting with the amount as a number (ex: “$5,000.00”), followed by the amount in words (ex: “Five thousand dollars”); and
  4. The date (mm/dd/yyyy) the agreement is being filled-in.

Step 2 – Payment

This section serves as a guide for how the borrower will pay back the loan balance. Start by checking one (1) of the two provided boxes; if the borrower will be making regular payments to pay off the loan, check the first box. If they will be making different types of payments (such as a single lump-sum payment), check the second box and describe how the borrower will go about making the payment(s).

If the first box was checked, enter the amount ($) of each payment (of principal and interest) that the borrower will make, followed by the date (mm/dd/yyyy) of the first payment, the number (#) of days between payments, and finally the date (mm/dd/yyyy) of the last payment the borrower will make.

Step 3 – Interest

If the lender will be charging interest for the loan balance, enter the amount (%) in the provided field. If no interest will be charged, the field can be left blank.

Step 4 – Expenses

Enter the name of the state the lender resides in. Should the borrower need to pay for attorney’s fees, the named state’s maximum usury rate is used.

Step 5 – Signing

To make the loan agreement binding and official, the lender and borrower will need to type/write their printed names, add their signatures to the form, and enter the date (mm/dd/yyyy) they signed the form. The signatures can be added by printing the form and signing by hand, or by uploading the completed document to eSign and sending the document for signature(s).