THIS LOAN AGREEMENT (the “Agreement”) 2024
BETWEEN:
SUTTON BUSINESS CAPITAL, a [State/Country] registered company, with its principal office located at [Address] (hereinafter referred to as the “Lender”),
AND:
[CLIENT’S NAME], an individual/business with its principal address at [Client’s Address] (hereinafter referred to as the “Borrower”).
1. LOAN AMOUNT:
The Lender agrees to provide the Borrower with a loan in the amount of [Loan Amount] (the “Loan”) to be utilized for [Purpose of the Loan].
2. INTEREST RATE:
The Loan shall incur an annual interest rate of [Interest Rate]%. Interest will be calculated on the outstanding principal balance.
3. REPAYMENT TERMS:
The Borrower agrees to repay the Loan in [Number of Installments] equal monthly installments, beginning on [Start Date], with the final installment due on [End Date].
4. COLLATERAL:
This Loan is [Secured/Unsecured]. If secured, the Borrower agrees to provide [Description of Collateral]. In the event of default, the Lender may seize the collateral to satisfy the outstanding debt.
5. EARLY REPAYMENT:
The Borrower may repay the Loan in full at any time without incurring any prepayment penalties.
6. DEFAULT:
Failure to make timely payments shall be considered a default. In the event of default, the Lender may declare the entire outstanding balance due and payable.
7. GOVERNING LAW:
This Agreement shall be governed by and construed in accordance with the laws of [State/Country].
IN WITNESS WHEREOF, the parties hereto have executed this Loan Agreement as of the date first above written.
[Lender’s Name/Title] [Borrower’s Name/Title]
SUTTON BUSINESS CAPITAL [CLIENT’S NAME]