This template includes the following paragraphs, among others:
- Loan Amount & Interest
- Governing Law
- Maximum Interest
- Waiver of Presentment
- Borrower's Liability
- Cumulative Rights
This agreement is for a demand loan, in which repayment is to be made at the lender's request (upon "demand"). If the borrower is unable to repay, the lender will be protected by collateral.
This agreement is for use in all states, although many states limit interest rates or other aspects of loaning money.