Loan Agreement

For money lent between individuals or to a business: principal, whether interest applies, the repayment schedule, what counts as default, and any security or guarantor backing the loan.

What's included

Lender and borrower details
Principal amount in figures and words
Interest rate or interest-free statement
Purpose of the loan
Repayment schedule and final due date
Default, late payment and recovery terms
Security or guarantor section

Usage notes

Pay by traceable means such as M-Pesa or bank transfer and keep the confirmation.
Interest terms should be reasonable and clearly stated.
Both parties should sign in the presence of at least one witness each, and every party should keep a signed original.

These are general-purpose document templates for use in Kenya. They are not a substitute for legal advice and may need review for your specific transaction.