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Loan Agreements

As solicitors, we understand the importance of a clear and well-documented finance agreement, regardless of whether you are lending to or borrowing from a third party. With years of experience in this field, we know that a written agreement outlining the terms and conditions of the loan can help mitigate the risk of disputes or misunderstandings down the line. Our team of solicitors can assist you in drafting a comprehensive finance agreement that covers everything from repayment schedules to the level of security required. By working with us, you can rest assured that your transaction is properly documented, protecting your interests as a lender or borrower.

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What is a loan agreement?

Whether you are lending to or borrowing from a third party, it is always prudent to record the terms of the loan clearly. A written finance agreement should outline the terms and conditions under which the lender provides to loan to the borrower, including provisions relating to repayment, interest and security. A loan agreement can be unsecured or secured by way of legal charge on a property, personal guarantee by another person or debenture against a borrower company.

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Why is it important?

Having a well drafted loan agreement can not only help ensure that the borrower repays the monies over, but also help to demonstrate that the monies were actually loaned and not gifted. This would be a vital element should you have to initiate debt recovery proceedings to recover the sum due.

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Our Service

Our expert lawyers will assist with all aspects of negotiating, preparing and advising upon your finance agreement whether you are the borrower or the lender. If you are the lender, we can also advise you of the options available to you, should you wish to secure the loan and assist in implementing any chosen security.

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Frequently Asked Questions

Please find below some FAQs regarding Loan Agreements

What would happen if a director breached a director’s service agreement?

The agreement itself would stipulate what action may be taken upon breach. These remedies may include legal action, financial penalties and termination of the agreement etc.

What terms are usually included within a director’s service agreement?

Terms may include duties and responsibilities, term, termination, remuneration, confidentiality, non-compete, intellectual property, indemnity and insurance. Our specialist lawyers can advise you on the suitability of these terms and whether they will be required to meet your business needs.

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Arrange A Consultation

Please submit your information and a member of the Poole Alcock team will respond to you as soon as possible. If you have a quick question, please feel free to call 0800 470 0334.

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What people say about us

We were recommended to use Poole Alcock and in particular, Monisha by our neighbours, who found her to be very approachable.

Throughout our relationship, from the initial meeting through to completion, the communications were always first class and easily understood. Monisha was knowledgeable in the subject we approached her with and was quickly able to conclude the documentation and business we had.

I would not hesitate to recommend Poole Alcock, and Monisha herself, if asked.

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