lending agreements

A lending agreement is a formal contract between a lender and a borrower that outlines the terms for borrowing money or assets. It specifies details like the amount borrowed, interest rate, repayment schedule, and any collateral involved. The agreement helps ensure both parties understand their rights and responsibilities, reducing the risk of misunderstandings. Essentially, it serves as a legal document that protects both sides by clearly defining how and when the loan will be repaid.