Can I write my own loan agreement?
Can I write my own loan agreement? For loans by a commercial lender, the lender will provide the agreement. But for loans between friends or relatives, you will need to create your own loan agreement. How do I write a loan agreement for a friend? Ask for a plan. Review the borrower's finances and help them set up a budget that includes your monthly repayment.Make sure they understand this is a loan, not a gift.Set terms that both sides agree can be enforced … and enforce them!Keep your distance. Get it down on paper. What should a loan agreement include?...