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Family Loan Agreement
Free family loan agreement template for documenting a loan between family members, keeping the arrangement clear for both sides.
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This free family loan agreement covers 1. Loan Amount, 2. Interest Rate, 3. Repayment, 4. Late Payment, 5. What Happens If Borrower Can't Repay with 8 clearly marked [placeholder] fields to fill in — built for small businesses and individuals documenting a loan or expense putting financial terms in writing so both sides have a clear, shared record. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Family Loan Agreement
Lender: [Name] · Borrower: [Name] · Relationship: [Relationship] · Date: [Date]
1. Loan Amount
Lender agrees to loan Borrower [Amount], for the purpose of [Purpose, optional].
2. Interest Rate
[ ] No interest (interest-free loan between family members). [ ] Interest at [Rate]% per year, [required for larger loans to meet the IRS "Applicable Federal Rate" and avoid gift tax implications — see note below].
3. Repayment
Borrower will repay [in a lump sum by [Date] / in installments of [Amount] per [Frequency], beginning [Date]].
4. Late Payment
[State whether late payments incur any consequence, or whether family flexibility applies — being explicit either way avoids assumptions.]
5. What Happens If Borrower Can't Repay
[Optional but recommended: describe how the parties will handle a missed payment — e.g. "the parties will discuss a revised schedule before pursuing any other remedy."]
6. Acknowledgment
Both parties acknowledge this is a loan, not a gift, and intend to be bound by its terms.
Lender signature: ______________________ Date: ____________ Borrower signature: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal or tax advice. In the US, a family loan over a certain size with no or below-market interest can trigger IRS "imputed interest" rules, treating the foregone interest as a taxable gift — for anything beyond a small, informal amount, check the current Applicable Federal Rate (AFR) or consult a tax advisor.*
Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.
What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 6 standard sections: 1. Loan Amount, 2. Interest Rate, 3. Repayment, 4. Late Payment, 5. What Happens If Borrower Can't Repay, 6. Acknowledgment
- 8 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Informal lending & reimbursements
Money changing hands between people or a business and its team, without a bank's paperwork.
FAQ
Is this family loan agreement template really free?
Yes, completely free — view, edit, and download this family loan agreement as a PDF without creating an account.
What does this family loan agreement cover?
This finance template includes 1. Loan Amount, 2. Interest Rate, 3. Repayment, 4. Late Payment. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. This covers the standard structure, not the interest-rate limits, disclosure requirements, or tax implications that can apply depending on your state and the amount involved. Check those specifics with an accountant or financial attorney before you rely on it.
Can I edit the wording?
Yes. All 8 placeholder fields and every clause are editable right on the page — change what doesn't fit, then download an updated PDF anytime.
Where can I find more free templates like this?
Browse more free finance and related document templates in the docstoc library at /document-templates/.
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