A loan, in the financial sense, is the borrowing of money coupled with a promise to repay the amount borrowed (principal). If the loan carries interest, then the promise to repay would include interest payments as well as the principal amount borrowed.
A miscellany of informative notes and articles related to loans is shared on this site for reference and information only. All information made available here shall not in any way be construed as representation or legal advice whatsoever:
Application for emergency funds to meet unexpected expenses.
Loans obtained by corporations for working capital and specific project funding.
Board of Directors' resolution for request and acceptance of a corporate loan. Resolution authorizes execution of security documents and creation of security in respect of the loan.
Home loan and mortgage letter of offer sample.
Typically used for personal loans of small amount and subject to minimal terms and conditions.
Loan letter for loans to corporate borrowers. Drawdown of the loan is subject to fulfilment of conditions precedent which include provision of guarantee.
Information on no interest loans also known as friendly loans. Sample loan agreement provided as guide.
A loan reaches maturity and full payment is due but the borrower neglects or refuses to pay, then something like this demand letter needs to be issued to demand for payment and threaten legal action.
A Personal Loan is usually unsecured and available for individuals. Key features are fast approval and disbursement; and minimal legal documentation.