Lending real money and want the full contract — not just an IOU? PaperKit drafts a proper Loan Agreement: the master lending contract a promissory note attaches to, covering the loan, disbursement, interest, fees, covenants, events of default and remedies between a lender and a borrower. Pick how the rate works: fixed (one set annual rate for the life — PaperKit computes the monthly principal-&-interest payment, total of payments and total interest), variable (an index plus your margin — PaperKit computes the current all-in rate and the payment at that rate, with an optional floor and cap), or balloon (amortized on a longer schedule but the whole balance is due on an earlier date — PaperKit estimates the balloon balance due). Choose the purpose — personal, business, or real estate — and set the principal, term, disbursement (lump sum or draws), origination and late fees, default rate and prepayment terms. Hosted online for the borrower to review & e-sign. Clean PDF.
The big lever — it rewrites the Interest & Rate mechanic, which rate section appears, and the payment math.
Fixed rate: one set annual rate for the life of the loan. PaperKit amortizes it over the term and computes the monthly principal-&-interest payment, the total of payments and the total interest.
Keeps the agreement generic — it tweaks the recital, the purpose clause and the document title.
A real, section-by-section loan agreement. The rate choice drives the rate section and the payment math. Publish to get a hosted link the borrower can e-accept online.
$9/mo — remove the DRAFT watermark + “Made with PaperKit” badge, unlimited clean-PDF loan agreements, and Pro across every tool.
A loan agreement is a template for convenience, not legal advice. It is a binding obligation to repay money; interest, usury, disclosure and applicable state and federal law (including any required consumer-lending disclosures and maximum-rate limits) continue to govern. PaperKit is not a law firm. Review the agreement and consult a qualified attorney.