It should specify a repayment term and payment schedule, an interest rate, and other contingencies, such as how late payments or a default will be handled. Download a loan agreement template to establish a borrower-lender relationship and ensure both parties meet their obligations.If a family member needs to borrow money, use our customizable family loan agreement template to get it in writing. When borrowing money from or loaning money to family and friends, make sure that your loan agreement addresses all the basic terms. A loan agreement serves as a crucial legal contract between a borrower and a lender, delineating the terms and conditions of a financial arrangement. 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. If interest is charged, the rate should be included with a repayment schedule. It is common for lenders to request "security" for the loan (such as a vehicle). The Florida Loan Agreement form is a legal document that outlines the terms and conditions associated with borrowing money in the state of Florida. It.