Whether you are making a loan of money for business or personal purposes it is important to document your agreement with the borrower. This should set out how much has been loaned, repayment procedure, interest payable and the length of the loan period.
If the loan is for a large amount of money, it may require a security or guarantee document to provide the lender with further protection.
Matthews Folbigg Lawyers in Parramatta can assist in drafting loan agreements and associated documentation. Contact our commercial law team for more information.
Phillip Brophy – phillipb@matthewsfolbigg.com.au or 9635 7966
