An Illinois Loan Agreement form is a legal document that outlines the terms and conditions between a lender and a borrower in the state of Illinois. It is a simple agreement that includes the amount owed, interest rate, and payment schedule.Are you looking for a loan agreement form in Illinois? Download our free Illinois Loan Agreement Form which is available as PDF or Word documents. An IOU (I Owe You) is a legal document that sets out the details of a loan made between two people, a borrower, and a lender. Have you recently settled a debt and are searching for a paid in full letter? Good news, we've got two free sample form letters below. Use this free Illinois Promissory Note Template to secure your loans in the state of Illinois. Edit, Sign and Download PDF.