Business Loan Contract

By | February 25, 2015

Sample Template for Free Download

This is a contract between a borrower and a lender for a loan to help with the business of the borrower.

Borrower:…………….

Address : …………………….

Lender: ………………….

Address :………………….

THIS BUSINESS LOAN AGREEMENT dated ………..is made and executed between ……….. (“Borrower”) and ……………. on the following terms and conditions.

Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement (“Loan”).

Term :This Agreement shall be effective as of ……… and shall continue in full force and effect until such time as all of Borrower’s Loans In favor of Lender have been paid in full, including principal, interest, costs, expenses, attorneys’ fees, and other fees and charges, or until ……….

Loan Documents : Borrower shall provide to Lender the following documents for the Loan:

(1) The Note;

(2) Security Agreements granting to Lender security interests in the Collateral;

(3) Financing statements and all other documents perfecting Lender’s Security Interests;

(4) Evidence of insurance as required below;

Borrower’s Authorization : Borrower shall have provided in form and substance satisfactory to Lender properly certified resolutions, duly authorizing the execution and delivery of this Agreement, the Note and the Related Documents, In addition, Borrower shall have provided such other resolutions, authorizations, documents and instruments as Lender or its counsel, may require.

Payment of Fees and Expenses: Borrower shall have paid to Lender all fees, charges, and other expenses which are then due and payable as specified in this Agreement or any Related Document.

Representations and Warranties: The representations and warranties set forth in this Agreement, in the Related Documents, and in any document or certificate delivered to Lender under this Agreement are true and correct.

Annual Statements : As soon as available, but in no event later than ninety (90) days after the end of each fiscal year, Borrower’s balance sheet and income statement for the year ended, audited by a certified public accountant satisfactory to Lender.

Security Agreement : The words “Security Agreement” mean and include without limitation any agreements, promises, covenants, arrangements, understandings or other agreements, whether created by law, contract, or otherwise, evidencing, governing, representing, or creating a Security Interest.

The Borrower and Lender agree all the terms and conditions in the above contract.

Signature of the Borrower:………..

Signature of the Lender:………….