Loan Agreement
This document outlines the terms and conditions of your loan. Please review all sections carefully before accepting the agreement.
Loan Amount
The principal amount borrowed, as specified in your loan application and approval documents.
Interest Rate
The annual percentage rate (APR) applied to your loan, including all applicable fees and charges.
Repayment Terms
The schedule and method of repayment, including payment amounts, due dates, and term length.
Default Terms
Conditions that constitute default and the consequences of defaulting on your loan obligations.
Definitions
- "Lender" refers to LoanMe, its successors and assigns
- "Borrower" refers to the individual or entity receiving the loan
- "Loan" refers to the principal amount borrowed plus any accrued interest
- "Payment Date" refers to the scheduled date for loan repayment installments
Loan Terms
Principal Amount
The principal amount of the loan shall be as specified in the loan approval documentation.
Interest Rate
Interest shall accrue on the principal amount at the rate specified in the loan approval documentation.
Repayment Schedule
The Borrower agrees to repay the loan in regular installments as specified in the repayment schedule.
Fees and Charges
Origination Fee
Up to 5% of the loan amount
Late Payment Fee
$35 or 5% of the missed payment
Returned Payment
$25 per occurrence
Early Repayment
No penalty for early repayment
Agreement Acceptance
By accepting this agreement, you acknowledge that you have read, understood, and agree to be bound by all the terms and conditions outlined in this Loan Agreement.