SMALL BUSINESS LOAN AGREEMENT 
1. THE PARTIES. This Small Business Loan Agreement (“Agreement”) made  on _______________, 20____ is by and between: 
Borrower: _______________, with a mailing address of 
______________________________, (“Borrower”), and 
Lender: _______________, with a mailing address of 
______________________________, (“Lender”).  
2. LOAN TERMS. The Lender agrees to lend the Borrower under the following terms: 
a. Principal Amount: $_______________ 
b. Interest Rate: ____% compounded per: (check one) 
☐ - Month 
☐ - Annum 
☐ - Other: ______________________________ 
c. Borrower to Receive the Borrowed Money on: _______________, 20____ Hereinafter known as the “Borrowed Money.” 
3. PAYMENTS. The full balance of the Borrowed Money, including all accrued interest  and any other fees or penalties, is due and payable in: (check one) 
☐ - A LUMP SUM. The Borrower shall repay the Borrowed Money as a lump  sum, in full, in the amount of $_______________ (principal and interest) by  _______________, 20____ (“Due Date”). 
☐ - INSTALLMENTS. Borrower shall pay principal and interest installment  amounts equal to $_______________ with the first (1st) payment due on  _______________, 20____ and the remaining payments to be paid: (check one) 
☐ - Weekly with any remaining balance payable on _______________,  20____ (“Due Date”). 
☐ - Monthly with any remaining balance payable on _______________,  20____ (“Due Date”). 
☐ - Quarterly with any remaining balance payable on _______________,  20____ (“Due Date”). 
Hereinafter known as the “Repayment Period.” 
4. PAYMENT IS DUE. Any payment made by the Borrower is considered late if made  more than ____ day(s) after any payment due date (“Payment Due Date”). This shall  include, but not be limited to, any payment made related to the Repayment Period,  the Due Date, or any other payment mentioned in this Agreement.
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5. LATE FEE. If the Borrower makes a late payment for any Payment Due Date, there  shall be: (check one) 
☐ - NO LATE FEE. 
☐ - LATE FEE. The Borrower shall pay a late fee of $_______________ for  each: (check one) 
☐ - Occurrence payment is late. 
☐ - Day payment is late. 
6. SECURITY. This Agreement shall be: (check one) 
☐ - UNSECURED. There shall be no security provided in this Agreement. 
☐ - SECURED. There shall be property to secure this Agreement described as: ______________________________ (“Security”).  
The Security shall transfer to the possession and ownership of the Lender  immediately pursuant to Section 11 of this Agreement. The Security may not be  sold or transferred without the Lender’s consent until the Due Date. If Borrower  breaches this provision, Lender may declare all sums due under this Agreement immediately due and payable, unless prohibited by applicable law. The Lender  shall have the sole option to accept the Security as full payment for the Borrowed  Money without further liabilities or obligations. If the market value of the Security  does not exceed the Borrowed Money, the Borrower shall remain liable for the  balance due while accruing interest at the maximum rate allowed by law. 
7. CO-SIGNER. (check one) 
☐ - NO CO-SIGNER. This Agreement shall not have a Co-Signer. 
☐ - CO-SIGNER. This Agreement shall have a Co-Signer known as  _______________ ("Co-Signer”) who agrees to the liabilities and obligations on  behalf of the Borrower under the terms of this Agreement. If the Borrower does  not make payment, the Co-Signer shall be personally responsible and is  guaranteeing the payment of the principal, late fees, and all accrued interest  under the terms of this Agreement. 
8. PREPAYMENT PENALTY. The Borrower shall be charged: (check one) 
☐ - NO PRE-PAYMENT PENALTY. The Borrower is eligible to pre-pay the  Borrowed Money, at any time, with no pre-payment fee.
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☐ - A PRE-PAYMENT PENALTY. If the Borrower pays any Borrowed Money to  the Lender with the specific purpose of paying less interest, there shall be a pre payment fee of: (check one) 
☐ - $_______________ 
☐ - ____% of the pre-paid amount. 
☐ - Other. ______________________________ 
9. INTEREST DUE IN THE EVENT OF DEFAULT. In the event the Borrower fails to  pay the Agreement in full on the Due Date, the unpaid principal shall accrue interest  at the maximum rate allowed by law until the Borrower is no longer in default.  
10.ALLOCATION OF PAYMENTS. Payments shall be first (1st) credited to any late  fees due, second (2nd) any to interest due, and any remainder will be credited to the  principal. 
11.ACCELERATION. If the Borrower is in default under this Agreement or is in default  under another provision of this Agreement, and such default is not cured within the  minimum allotted time by law after written notice of such default, then Lender may,  at its option, declare all outstanding sums owed on this Agreement to be  immediately due and payable. This includes any rights of possession in relation to  the Security described in Section 6. 
12.ATTORNEYS’ FEES AND COSTS. Borrower shall pay all costs incurred by Lender  in collecting sums due under this Agreement after a default, including reasonable  attorneys’ fees. If Lender or Borrower sues to enforce this Agreement or to obtain a  declaration of its rights hereunder, the prevailing party in any such proceeding shall  be entitled to recover its reasonable attorneys’ fees and costs incurred in the  proceeding (including those incurred in any bankruptcy proceeding or appeal) from  the non-prevailing party. 
13.WAIVER OF PRESENTMENTS. Borrower waives presentment for payment, a  notice of dishonor, protest, and notice of protest. 
14.NON-WAIVER. No failure or delay by Lender in exercising Lender’s rights under this  Agreement shall be considered a waiver of such rights. 
15.SEVERABILITY. In the event that any provision herein is determined to be void or  unenforceable for any reason, such determination shall not affect the validity or  enforceability of any other provision, all of which shall remain in full force and effect. 
16.INTEGRATION. There are no agreements, verbal or otherwise that modify or affect  the terms of this Agreement. This Agreement may not be modified or amended  except by a written agreement signed by Borrower and Lender. 
17.CONFLICTING TERMS. The terms of this Agreement shall control over any  conflicting terms in any referenced agreement or document.
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18.NOTICE. Any notices required or permitted to be given hereunder shall be given in  writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid,  return receipt requested, (c) by facsimile, or (d) by a commercial overnight courier  that guarantees next day delivery and provides a receipt, and such notices shall be  made to the parties at the addresses listed above. 
  
19.EXECUTION. The Borrower executes this Agreement as a principal and not as a  surety. If there is a Co-Signer, the Borrower and Co-Signer shall be jointly and  severally liable under this Agreement. 
20.GOVERNING LAW. This Agreement shall be governed under the laws in the State  of _______________. 
21.ADDITIONAL TERMS & CONDITIONS. __________________________________ ___________________________________________________________________ ___________________________________________________________________ 
22.ENTIRE AGREEMENT. This Agreement contains all the terms agreed to by the  parties relating to its subject matter, including any attachments or addendums. This  Agreement replaces all previous discussions, understandings, and oral agreements.  The Borrower and Lender agree to the terms and conditions and shall be bound until  the Borrower repays the Borrowed Money in full. 
Lender Signature: ____________________________ Date: ____________ Print Name: ____________________________ 
Borrower Signature: ____________________________ Date: ____________ Print Name: ____________________________ 
Co-Signer Signature (if any): ____________________________ Date: ____________ Print Name: ____________________________