A legal document between a creditor who lends money to a borrower, who repays the loan (with or without interest). Includes loan amount, interest rate, repayment schedule, security, and default terms.
Loan Amount & Interest
Principal sum, APR, compounding method, and usury compliance.
Repayment Schedule
Weekly, monthly, or lump-sum payments with defined due dates.
Security / Collateral
Secured vs. unsecured designation with collateral descriptions.
Default & Remedies
Late fees, grace periods, acceleration clauses, and penalties.
Select a state and enter your proposed interest rate to instantly verify compliance with state usury laws.
| State | Max Rate |
|---|---|
| Alabama(AL) | 8% |
| Alaska(AK) | 10.5% |
| Arizona(AZ) | 10% |
| Arkansas(AR) | 17% |
| California(CA) | 10% |
| Colorado(CO) | 12% |
| Connecticut(CT) | 12% |
| Delaware(DE) | 5% |
| Florida(FL) | 18% |
| Georgia(GA) | 7% |
| Hawaii(HI) | 10% |
| Idaho(ID) | 12% |
| Illinois(IL) | 9% |
| Indiana(IN) | 8% |
| Iowa(IA) | 5% |
| Kansas(KS) | 15% |
| Kentucky(KY) | 8% |
| Louisiana(LA) | 12% |
| Maine(ME) | 6% |
| Maryland(MD) | 8% |
| Massachusetts(MA) | 20% |
| Michigan(MI) | 7% |
| Minnesota(MN) | 8% |
| Mississippi(MS) | 10% |
| Missouri(MO) | 9% |
| Montana(MT) | 15% |
| Nebraska(NE) | 16% |
| Nevada(NV) | No Cap |
| New Hampshire(NH) | No Cap |
| New Jersey(NJ) | 6% |
| New Mexico(NM) | 15% |
| New York(NY) | 16% |
| North Carolina(NC) | 8% |
| North Dakota(ND) | 6% |
| Ohio(OH) | 8% |
| Oklahoma(OK) | 6% |
| Oregon(OR) | 12% |
| Pennsylvania(PA) | 6% |
| Rhode Island(RI) | 21% |
| South Carolina(SC) | 8.75% |
| South Dakota(SD) | No Cap |
| Tennessee(TN) | 10% |
| Texas(TX) | 10% |
| Utah(UT) | No Cap |
| Vermont(VT) | 12% |
| Virginia(VA) | 12% |
| Washington(WA) | 12% |
| Washington D.C.(DC) | 24% |
| West Virginia(WV) | 8% |
| Wisconsin(WI) | 5% |
| Wyoming(WY) | 7% |
Enter your loan details to see your monthly payment, total interest, and a complete month-by-month breakdown.
10 specialized templates for every lending scenario.
Personal Loan
Standard loan between individuals with fixed terms and repayment schedule.
Loan Extension
Extends the repayment period of an existing loan agreement.
Family Loan
Loan between family members, often with favorable or zero-interest terms.
I Owe You (IOU)
Simple acknowledgment of debt without detailed repayment terms.
Payment Plan
Structured installment agreement for repaying an existing obligation.
Personal Guaranty
Third-party guarantee to repay if the primary borrower defaults.
Promissory Note
Written promise to pay a specific sum by a certain date or on demand.
Release of Debt
Legal release of the borrower from all or part of an outstanding debt.
Release of Guaranty
Releases a guarantor from their obligation under a guaranty agreement.
Small Business Loan
Loan agreement structured for business purposes with commercial terms.
A guided walkthrough from choosing your loan type through final disbursement.
Determine the category of loan that best fits your needs based on the purpose and relationship between the parties.
Essential terms you should understand before signing any loan agreement.
Common questions about loan agreements, credit, and lending laws.
Preview the sections that will be generated in your completed Loan Agreement.
Legal Document
Borrower Signature & Date
Lender Signature & Date
Guarantor (if applicable) Signature & Date