Family Loan Agreement Generator

Loan Details

Tax Note: For loans over $10,000, the IRS requires charging at least the Applicable Federal Rate (AFR) to avoid gift tax implications. Consult a tax advisor for large loans.

Lender (Family Member Providing Loan)

Lender Name

Address

Relationship to Borrower

Borrower (Family Member Receiving Loan)

Borrower Name

Address

Loan Terms

Loan Amount

Loan Date

Purpose of Loan

Interest

Interest Rate Type

Repayment

Repayment Type

Loan Term (Years)

First Payment Due

Allow prepayment without penalty

Security (Optional)

Loan is secured by collateral

Default & Remedies

Grace Period for Late Payment

Include late payment fee

Forgiveness Option

Include debt forgiveness provision

Governing Law

State