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Commercial Contracts

Loan Agreements

Expert Solicitors for Loan Agreements and related security documentation

For obvious reasons, Loan and Facility Agreements are important to get right first time. Our experienced team of Business Law Solicitors can help with all kinds of Commercial Contracts.

If you find yourself in need of some assistance get in touch on 0330 912 8338.

Any agreement involving money should be approached with care and prepared by an experienced lawyer.

Loan and Facility Agreements are no different. Loan and Facility Agreements appear in many different forms for most businesses, including:

  • Mortgage loans secured on property;
  • Asset finance;
  • Hire purchase;
  • Lease purchase;
  • Revolving credit;
  • Factoring;
  • Business development finance;
  • Institutional, private and personal loans.

Our expert Business Law Solicitors can help with ensuring that these agreements are correctly drafted, reflect the agreed terms and are supported by the relevant security documentation. Navigate the complexities of business agreements seamlessly, with our Commercial Contracts Solicitors!

What Loan Agreement Related Services do we provide?

  • Reviewing and advising on proposed terms
  • Preparing and reviewing documentation
  • Agreeing and completing transactions
  • Ancillary documentation (minutes, resolutions) and Companies House filings

Need Help?

Call 0330 912 8338 to have a no-obligation chat with our expert Commercial Contracts Team. They’ll be happy to talk through the process with you, explain what we do, and answer any questions you have.

Alternatively, you can email us with your query and we’ll help in any way we can.

Loan Agreement FAQs

What are Loan Agreements?

A Loan Agreement or Facility Agreement is a contract between a creditor and debtor that outlines the details of the loan. It is usually given to the borrowing party by the lender bank or financial institution that is lending.

Why should I use a Loan Agreement?

Loan Agreements are the best way for lenders to specify in detail the terms of the loan that they are providing for the borrower. It’s imperative that these terms are explained and in writing in order to ensure that both parties are on the same page and fully understand the terms of the agreement they are making.

Having the Loan Agreement in writing also makes them easier to enforce if the situation arises.

Are Loan Agreements legally binding?

Like all contracts, to be enforceable a Loan Agreement must satisfy certain criteria and incorporate the fundamental elements of a legally binding contract. In some situations Loan Agreements may be subject to specific statutory and regulatory requirements to be fully legally binding and enforceable should either party not fulfil the obligations set out in the agreement.

Having the Loan Agreement in writing also makes them easier to enforce if the situation arises.

Loan Agreements vs Promissory Notes

The main difference between a Loan Agreement and a Promissory Note is that a Loan Agreement usually contains more extensive provisions.

A Promissory Note In its simplest form is an ‘I O U’; a promise to pay to record a commitment to meet that obligation. Sometimes more suited to arrangement between connected parties such as family members, we see Loan Agreements are more frequently used.

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Still Need Help?

Call 0330 912 8338 to have a chat with our Commercial Contracts experts.