SBA sets the guidelines that govern the 7(a) loan program. SBA Form 1391 (5-00), Ref 50 30.A business loan agreement is a legal contract between a borrower and lender that defines the terms and conditions of their loan arrangement. A business loan agreement is a legal document between you and your lender, whether that's a bank, credit union, online lender or even a family member. 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. A business loan agreement is a legally binding document that states the details of a loan between a lender and borrower (usually the business owner). Create an account to start talking to interested lenders; Lenders will approve and help you manage your loan. "Note" has the meaning set forth in Section 2.2. (d) Since the date of the most recent annual financial statements of the.