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. 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 a family member needs to borrow money, use our customizable family loan agreement template to get it in writing. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. Are you looking for a loan agreement form in Utah? Download our free Utah Loan Agreement Form which is available as PDF or Word documents. The document provides clarity for both the borrower and the lender, establishing important terms and conditions pertaining to both parties. The document provides clarity for both the borrower and the lender, establishing important terms and conditions pertaining to both parties.