With a Rocket Lawyer Loan Agreement, you can agree to various types of loan repayment structures including installment payments or a lump sum. Ultimately, the best payment schedule is one that the borrower can manage. With Rocket Lawyer, you have the flexibility to decide which payment schedule will work best for your loan.
If this loan document doesn't fit your needs, we offer other types of loan contracts including:
Promissory Note: A Promissory Note is similar to a Loan Agreement. However, it is a simpler form and doesn't usually include as many provisions as a Loan Agreement.
IOU Form: An IOU agreement is a step above a handshake agreement. It is suitable for small personal loans.
If you have questions about making your Loan Agreement, ask a lawyer.