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CM Advocates > Unsecured Loan Agreement

Unsecured Loan Agreement

A Loan Agreement is an agreement where the lender agrees to provide a loan to a borrower subject to various agreed terms. The advanced sum can either be secured by a collateral or unsecured. A loan agreement spells out the details of the transaction, including the loan amount, the security if any, the interest rate and the repayment terms.

This template is for an unsecured loan. This agreement is applicable where the lender grants a borrower a loan facility without obliging the borrower to provide a security to guarantee its performance of the terms of the agreement- most particularly the repayment of the advanced sum. The lender of a loan that is unsecured bears greater risk and must therefore compensate for this by reducing the loan amount granted or increasing the interest rate. Such a transaction is most suitable where the loan amount is relatively small or where the loan is a friendly/ soft loan and the borrower has no ready assets which can be secured.

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Unsecured Loan Agreement

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  • Suitable for startups and small-to-medium businesses
  • Editable Word Document for you to modify
  • Guidance notes included

KShs3,000

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Table of Contents

  1. DEFINITIONS AND INTERPRETATIONS
  2. LOAN
  3. PURPOSE
  4. INTEREST
  5. FURTHER LENDING
  6. REPAYMENT
  7. REPRESENTATIONS AND WARRANTIES
  8. EVENTS OF DEFAULT
  9. CONFIDENTIALITY
  10. DATA PROTECTION
  11. INDEMNITY
  12. AGENCY
  13. FORCE MAJEURE
  14. NOTICES
  15. DISPUTE RESOLUTION
  16. SURVIVAL
  17. CONCLUSIVE EVIDENCE
  18. COSTS
  19. General

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