A loan agreement is a legal document between a creditor who lends money to a borrower that is repaid with interest. A Loan Agreement is a document between a borrower and lender that details a loan repayment schedule.We've designed a free loan agreement template and sample to plug into business or personal loan arrangements. Download our template today. A personal loan agreement can protect both you and the borrower when you lend money. Use our step-by-step guide for how to write a personal loan agreement. The agreement should include a schedule of repayment and you should take it seriously. A personal loan agreement is a contract between two parties, generally a borrower and a lender. It outlines how much is borrowed, how it's repaid and more. Download a loan agreement template to establish a borrower-lender relationship and ensure both parties meet their obligations.