Free Loan Agreement Generator
For loans more involved than a simple IOU — set out the principal, interest, collateral, and what happens if a payment is missed.
Personalized document
Payment covers personalized drafting, completion checks, clean files, future edits, and permanent re-download access.
Lender, borrower, principal amount, and what (if anything) secures it.
Interest rate, repayment schedule, and what happens on late payment or default.
Get a complete, signature-ready agreement covering both sides of the deal.
Frequently Asked Questions
What's the difference between this and a promissory note?
A promissory note is a simple one-sided promise to repay. A loan agreement is more detailed and two-sided, typically used for larger loans, business lending, or when collateral is involved.
Can I secure the loan with collateral?
Yes — describe the collateral in your prompt (e.g. "secured by the borrower's vehicle") and it's included as its own section with repossession terms on default.