LOAN AGREEMENT
Loan Amount (In words) ________________________ Php. (In figures) _____________________
Date ____________, 2022
I.
II.
THE PARTIES. For the above value received by _______________________________, with
residence address at _____________________________________________________, (the
Barrower”) agrees to pay _____________________ with complete address at
_________________________________ (the “Lender”).
PAYMENT. This agreement ( Loan Amount), shall be due and payable , including the principal
and any accrued interest, in one of the following ways:
□ Daily beginning on _____________, 20_____ until the balance is paid.
□ Semi- Monthly every pay day, 15th & 30th of the month until balance is paid.
□ Monthly once per month beginning on _____________, 20___ until balance is paid.
□ One-time payment in full amount within three (3) months after the loan granted until
balance id paid.
III. DEFAULT. If for any reason Borrower not succeeds to make any payment on time, Borrower shall be in
default. If the borrower has not paid in the full amount of the loan when the payment is due, the lender
will charge the Borrower interest on the unpaid balance at _____ percent (_%) per month.
_______________________________
Date:_______________________
Borrower’s Printed Name & Signature
______________________________
Date: _______________________
Witness’s Printed Name & Signature
______________________________
Date: _______________________
Witness’s Printed Name & Signature
______________________________
Lender’s Printed Name & Signature
Date: _______________________