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Love All People: Free Personal Loan Agreement Form;• Even to the best of friends.

Notwithstanding anything to the contrary in this Agreement, if the Borrower defaults in the performance of any obligation under this Agreement, then the Lender may declare the principal amount owing under this Agreement at that time to be immediately due and payable.

X Research source Most states have usury laws that set a limit on the amount of interest you can charge.

If you ever do wind up loaning money to a friend.

In general, the best course is to imitate the formal process, absent the administrative layers that can prolong and complicate bank transactions.

X Research source Identify the parties.

2021.

While current bank interest rates are near historic lows, the somewhat-riskier stock market has yielded big returns for investors large and small.

But, I can assure you that any effort you put into creating a contract can go a long way to making the loan itself easy and issue-free.