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Line of Credit Agreement
Free line of credit agreement template — a lender extends a revolving credit facility that a borrower can draw against as needed.
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This free line of credit agreement covers 1. Credit Line, 2. Draws, 3. Interest, 4. Repayment, 5. Fees with 13 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.
Line of Credit Agreement
Lender: [Name] · Borrower: [Name] · Date: [Date]
1. Credit Line
Lender agrees to extend a revolving line of credit to Borrower up to a maximum of [Amount] ("the Credit Limit").
2. Draws
Borrower may draw on the Credit Line as needed, up to the Credit Limit, by [Method — request in writing, automatic access].
3. Interest
Interest accrues on the outstanding balance at [Rate]% per [annum/month], calculated [Method].
4. Repayment
Borrower will make minimum payments of [Amount/percentage of balance] by the [Day] of each month. The full outstanding balance is due by [Date/upon demand/at the end of the term].
5. Fees
[Any draw fees, annual fees, or late payment fees.]
6. Default
Borrower is in default if any payment is more than [Number] days late. Upon default, Lender may [demand immediate repayment of the full balance / other remedies].
7. Security (if applicable)
[Describe any collateral securing this credit line.]
Lender: ______________________ Date: ____________ Borrower: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. Lending activity is regulated in most jurisdictions (usury limits, disclosure requirements) — a lender extending credit as a business, not a one-time personal favor, should confirm compliance with applicable lending laws.*
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
- 7 standard sections: 1. Credit Line, 2. Draws, 3. Interest, 4. Repayment, 5. Fees, 6. Default, …
- 13 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 line of credit agreement template really free?
Yes. Like every template in docstoc's library, this line of credit agreement is free to use, with no account or signup needed to view, edit, or download it.
What does this line of credit agreement cover?
This finance template includes 1. Credit Line, 2. Draws, 3. Interest, 4. Repayment. 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. Financial documents like this can touch usury limits, lending disclosure rules, or tax treatment that vary by state and by amount — details a general template can't know. Have an accountant or attorney review the actual terms before money changes hands based on this.
Can I edit the wording?
Yes — edit directly on the page, adjust any section or clause, and re-fill the 13 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.
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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Legality
Templates are drafted for general use, not a substitute for legal advice — check the note on each page for specifics.
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API available
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