Personal & Loans Contract Templates
Free personal & loans templates for individuals, families, private lenders and borrowers. Every one includes a guided form, a live preview and instant PDF or Word download.
About personal & loans agreements
A personal & loans agreement puts a private arrangement between individuals into writing so that expectations, amounts and deadlines are recorded rather than remembered.
Private agreements between people who trust each other are the ones least likely to be written down and most likely to end a relationship when they go wrong. The written record is the point.
Loans and money arrangements between individuals attract consumer credit and usury rules in many states, which cap interest and can impose disclosure requirements even on private lending.
For families and domestic or care workers
For private lenders, borrowers and guarantors
For housemates, co-owners and people sharing costs
For parents, guardians and carers
For private buyers and sellers
For spouses, partners and families
For tutors, instructors, coaches and parents
For businesses, employees and anyone sharing sensitive information
For neighbouring property owners
For tenants, subtenants and housemates
For employers, lenders, drivers and vehicle owners
For parties resolving a claim
For donors, recipients and mortgage lenders
For coaches, trainers and their clients
For parties settling a dispute or holding funds in escrow
For suppliers, manufacturers, distributors and resellers
For freelancers, independent professionals and their clients
Common mistakes in personal & loans agreements
- Not writing it down at all. A family loan documented only in a text message is extremely hard to enforce and even harder to explain to a tax authority. Write it down precisely because the relationship matters.
- No repayment schedule. 'Pay me back when you can' has no due date, which means there is nothing to enforce and the limitation clock may never start.
- Setting interest above the legal cap. Every state sets a usury ceiling. Interest above it can be unenforceable and in some states voids the interest entirely.
- Leaving default undefined. State what counts as a missed payment, whether there is a grace period, and what happens next — acceleration of the balance, interest, or recovery of collateral.
- No witness or notarisation where it matters. Not always required, but for larger sums or anything secured against property, notarisation makes the document far harder to dispute.
- Ignoring what happens on death. Say whether the obligation binds the borrower's estate. Without it, recovery from an estate becomes complicated at the worst possible time.
Personal & Loans questions
Is a loan agreement between family members legally enforceable?
Yes. A loan between relatives is as enforceable as any other, provided the essentials are present: identified parties, a stated sum, a repayment obligation and signatures. Being related does not make it a gift — but without documentation, a court or tax authority may treat it as one.
What interest rate can I legally charge?
State usury laws set the ceiling, and it varies widely. Some states also treat loans differently depending on whether the lender lends regularly. Check your state's limit before setting a rate, since exceeding it can cost you the interest and occasionally more.
Does this document need to be notarised?
For most private agreements, no — signatures from both parties are enough. Notarisation is worth it for larger sums, anything secured against property, or where you anticipate the document being challenged, because it makes the signature very difficult to deny.
What if the borrower stops paying?
Send a written demand referring to the default clause first, as this is often enough and preserves the relationship. If it does not work, small claims court handles modest sums without a lawyer. Keep every payment record, since documentation decides these cases.