Question 1

What does a custom loan agreement include?

Accepted Answer

Your custom loan agreement will include:

• Principal amount and disbursement terms
• Interest rate, calculation method, and payment schedule
• Repayment terms including maturity date and installment structure
• Prepayment provisions and any prepayment penalties
• Late payment fees and default interest rates
• Covenants (financial and non-financial obligations)
• Events of default and remedies available to the lender
• Collateral description and security interest provisions (if secured)
• Guaranty provisions (if applicable)
• Notices, amendments, and governing law clauses

Each section is tailored specifically to your transaction terms and risk profile.

Question 2

How long does it take to receive my custom loan agreement?

Accepted Answer

Standard delivery is 3 business days from the date you complete our detailed questionnaire.

The process:
1. After checkout, you'll receive an AI-powered questionnaire via email
2. Complete the questionnaire with details about loan amount, interest, repayment terms, and any security
3. Our licensed US attorney drafts your custom agreement within 3 business days
4. You receive your draft for review and can request revisions

Need it faster? Select Express Delivery at checkout to receive your agreement in 1 business day.

Question 3

Who drafts my loan agreement?

Accepted Answer

Your loan agreement is drafted by a licensed US attorney with experience in commercial lending, secured transactions, and finance law.

Our attorneys are:
• Licensed and in good standing with their state bar associations
• Experienced in drafting loan agreements for various transaction types
• Knowledgeable about UCC Article 9 (secured transactions) and applicable state lending laws
• Committed to producing clear, enforceable agreements that protect your interests

We do not use templates – every agreement is custom-drafted for your specific transaction.

Question 4

How do you gather the information needed for my agreement?

Accepted Answer

After checkout, we'll email you an AI-powered questionnaire that adapts to your responses. The questionnaire covers:

• Loan amount, purpose, and disbursement schedule
• Interest rate type (fixed or variable) and calculation method
• Repayment schedule and maturity date
• Whether the loan is secured or unsecured
• Collateral description and perfection requirements (if secured)
• Financial and operational covenants
• Events of default and remedies
• Guarantor information (if applicable)
• Governing law preferences

The questionnaire takes 10-15 minutes to complete and intelligently adjusts based on whether your loan is secured, unsecured, or involves a guaranty.

Question 5

Are revisions included?

Accepted Answer

Yes! One round of revisions is included with your custom loan agreement at no additional charge.

After you receive your initial draft, you can request:
• Clarifications to any provisions
• Adjustments to payment terms or schedules
• Changes to covenant requirements
• Additional provisions or exhibits
• Modifications to default or remedy provisions

If you need additional rounds of revisions beyond the first, we offer them at a discounted rate. Most clients find that one round is sufficient for their needs.

Question 6

Can I schedule a consultation with an attorney?

Accepted Answer

Absolutely! While the custom loan agreement service is document-focused, we offer optional 30-minute and 60-minute consultations with the attorney who drafted your agreement.

During a consultation, you can:
• Review specific provisions in detail
• Discuss implementation and execution logistics
• Address questions about collateral perfection (for secured loans)
• Review UCC filing requirements and timing
• Discuss negotiation strategies if the other party requests changes

Consultations can be added during checkout or requested after you receive your draft.

Question 7

What makes this different from a template loan agreement?

Accepted Answer

Templates are generic and don't account for your specific transaction structure, parties, or risk profile. Our custom loan agreements are:

• Drafted from scratch by a licensed US attorney
• Tailored to your specific loan amount, rate, and repayment terms
• Adjusted based on whether the loan is secured or unsecured
• Customized to include relevant covenants and restrictions
• Structured to address your specific default and remedy preferences
• Compliant with applicable state law requirements
• Written in clear, professional language suitable for commercial transactions

A template might work for simple personal loans, but for business lending, custom drafting provides essential protection and clarity.

Question 8

What types of loans does this cover?

Accepted Answer

Our custom loan agreement service covers a wide range of commercial and personal lending scenarios:

• Business term loans (secured or unsecured)
• Real estate acquisition or development loans
• Equipment financing loans
• Working capital loans
• Bridge loans and mezzanine financing
• Promissory notes with or without security
• Personal loans with commercial terms
• Inter-company loans
• Related-party lending arrangements

We can structure both secured loans (with collateral and UCC filings) and unsecured loans. The questionnaire will guide you through the specific requirements for your loan type.

Question 9

Does this agreement comply with US lending laws?

Accepted Answer

Yes. Your custom loan agreement is drafted to comply with applicable federal and state lending laws, including:

• Usury laws (interest rate caps) in your jurisdiction
• Truth in Lending Act (TILA) requirements where applicable
• Equal Credit Opportunity Act (ECOA) compliance
• State lending license requirements (if applicable)
• UCC Article 9 requirements for secured transactions
• State-specific notice and default cure requirements

Our attorneys stay current on lending law developments and will flag any regulatory considerations specific to your transaction during the drafting process.

Question 10

Can the loan be secured by collateral?

Accepted Answer

Yes! We can draft both secured and unsecured loan agreements.

For secured loans, we include:
• Security agreement provisions granting a security interest in specified collateral
• Detailed collateral descriptions (equipment, inventory, accounts, real property, etc.)
• Representations and warranties regarding ownership and liens
• Covenants to maintain collateral and insurance
• Rights to inspect collateral and receive financial statements
• Remedies upon default, including foreclosure and disposition rights
• Guidance on UCC-1 financing statement filing requirements
• Priority and subordination provisions (if applicable)

Our attorneys will also advise on steps needed to perfect your security interest under the UCC.

Question 11

What if we need to amend the loan terms in the future?

Accepted Answer

Your loan agreement will include provisions governing amendments and modifications.

Typically, amendments require:
• Written agreement signed by both lender and borrower
• Board approval (if either party is a corporation or LLC)
• Consent of guarantors (if the amendment affects their obligations)

We can also help you prepare amendment documents in the future, such as:
• Extension of maturity date
• Adjustment of interest rate or payment schedule
• Addition of collateral or release of security
• Modification of covenants or financial ratios

Amendment services are available at a discounted rate for existing clients.

Question 12

What happens after I receive my loan agreement?

Accepted Answer

After you approve the final draft, here's what comes next:

1. **Execution:** Both parties sign the agreement (and any related documents like security agreements or guaranties)
2. **Perfection:** If the loan is secured, file UCC-1 financing statements with the appropriate state authorities
3. **Disbursement:** Lender disburses the loan proceeds according to the terms
4. **Ongoing compliance:** Borrower complies with covenants, makes timely payments, and provides required financial statements
5. **Record keeping:** Both parties maintain copies of the signed agreement and all amendments

We provide a checklist with your agreement to guide you through these post-execution steps. If you need implementation support, consider adding a consultation.

Custom Loan
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