How is a loan agreement different from a promissory note?

A promissory note is a one-sided instrument — the borrower promises to repay, and typically only the borrower signs. A loan agreement is a two-way contract that states both parties' obligations and is signed by lender and borrower. Larger or ongoing loans usually use an agreement; a quick IOU often uses a note.

What interest rate can I charge?

Rates are capped by your state's usury laws, and a rate above the cap can be unenforceable. Loans between family members below the IRS Applicable Federal Rate (AFR) can trigger imputed-interest reporting. Check your state's cap and the current AFR before setting a rate — this template doesn't pick one for you.

Does a loan agreement need to be notarized or witnessed?

Usually not to be valid between the parties — most states enforce a signed agreement without notarization. Notarization or a witness adds identity proof that helps in a dispute. Requirements vary by state and by loan type, so confirm what your situation calls for.

Does AttachKit file or submit this anywhere?

No. AttachKit only fills and signs the PDF in your browser; it doesn't submit or record anything with any agency or lender. You keep the finished file and share it with the other party yourself.

Legal · Loan Agreement

Fill a Loan Agreement online — free template

A loan agreement is a mutual contract, signed by both a lender and a borrower, that sets out the principal, interest rate, repayment schedule, maturity date, and late-fee terms of a loan. Unlike a promissory note — a one-sided promise to pay — it spells out obligations for both sides and is signed by both. It's used for personal loans between family or friends, small-business lending, and seller-financed deals. AttachKit fills the recurring parts (your name, address, dates) so you can focus on the terms.

Your PDF never leaves your browser — open DevTools → Network and watch: the file is never uploaded.

Who needs it: Anyone lending money to another person or business and wanting a written, mutually-signed record. Small businesses documenting inter-company or shareholder loans. Buyers and sellers formalizing a private, seller-financed purchase.

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Auto-fills the lender (you) name and address block from your saved profile — borrower and loan terms stay manual.
Captures principal, annual interest rate, installment schedule, maturity date, and late fee in labeled fields.
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Loan Agreement questions, answered

General information, not legal or tax advice

This page is general information about a commonly-used document. State and local law varies — for advice on your specific situation, consult a licensed attorney in your jurisdiction. AttachKit fills the PDF; you're responsible for whether the contents are right for your case.

How is a loan agreement different from a promissory note?: A promissory note is a one-sided instrument — the borrower promises to repay, and typically only the borrower signs. A loan agreement is a two-way contract that states both parties' obligations and is signed by lender and borrower. Larger or ongoing loans usually use an agreement; a quick IOU often uses a note.
What interest rate can I charge?: Rates are capped by your state's usury laws, and a rate above the cap can be unenforceable. Loans between family members below the IRS Applicable Federal Rate (AFR) can trigger imputed-interest reporting. Check your state's cap and the current AFR before setting a rate — this template doesn't pick one for you.
Does a loan agreement need to be notarized or witnessed?: Usually not to be valid between the parties — most states enforce a signed agreement without notarization. Notarization or a witness adds identity proof that helps in a dispute. Requirements vary by state and by loan type, so confirm what your situation calls for.
Does AttachKit file or submit this anywhere?: No. AttachKit only fills and signs the PDF in your browser; it doesn't submit or record anything with any agency or lender. You keep the finished file and share it with the other party yourself.

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