Loan Agreements
If you are lending or borrowing money, you need a legally binding agreement in place that covers the funding arrangements. This will protect your interests and ensure that there are terms and conditions in place that set out how a loan is made available to a borrower.
We have in-depth experience with different types of loans, including secured and unsecured lending and business loans. We know that you are likely to need the deal to be completed promptly and we always work proactively to avoid unnecessary delays.
If you are a lender, we will work with you to ensure that the loan agreement includes the terms and conditions that you need to lend monies to a borrower.
As a borrower, we can advise you on the terms of the loan you have been offered and negotiate, if necessary, to make sure you have access to the level of funding you need. We will advise you on the terms and conditions of the loan agreement so that you fully understand the implications and what it means for you.
Services
- Business loans
- Director loans
- Intercompany loans
- Partnership loans
- Private loans
- Providing advice and guidance on loan terms and conditions
- Secured loans
- Shareholder loans
Loan agreement terms and conditions
A loan agreement should be accurately drafted to ensure that all parties understand clearly what is expected of them and the terms by which they will be bound.
Our Banking & Finance team will work with you to draw up an agreement tailored to your unique circumstances. Key loan agreement conditions include:
- How and when funds will be made available, including what conditions must be satisfied in advance
- How and when repayment will be made
- The amount of the loan and its permitted purpose
- The rate of interest that will be charged and how this will be applied
- The warranties and undertakings that each party is making
- What the loan is secured against if it is a secured loan
- What will happen in the event of a default
- Whether early repayment or overpayment will be allowed and how this will work