Definition of Loan agreement:
A contract between a borrower and a lender detailing the conditions for a loan.
Formal document that evidences a loan. It may also include negative and positive covenants, type and value of the collateral pledged, guaranties, financial reporting requirements, applicable interest rate and fees, and how the loan will be repaid and over what period.
How to use Loan agreement in a sentence?
- They made a loan agreement for 20 per cent interest.
Meaning of Loan agreement & Loan agreement Definition