Loan Agreement

Wondering what is a loan agreement? This document is a crucial contract that defines the financial terms and conditions between a borrower and a lender. A loan agreement contains important information relating to the:

• Loan amount 
• Repayment tenure 
• Interest rates and other charges applicable such as late fees, processing fees and more
• Repayment schedule and structure 
• Insurance, if any 
• Collateral, if it is a secured loan 

Knowing the loan agreement meaning and importance, make sure you read this contract carefully before you sign up for a credit facility.