Loan and Finance Agreement Template [Nigeria]

Updated December 28, 2023

This isn’t just paperwork; it’s your financial playbook. Think of it as the referee in your game of capital exchange, ensuring clarity and preventing disputes. When stakes are high, vagueness is your enemy. This loan agreement is precision in writing.

Loan Agreement Essentials:

  • Borrower: Your role is to take the funds and commit to repayment with interest.
  • Lender: You’re committing capital, expecting its return with added interest.

For Business Owners: Seeking capital? This agreement is your ticket to secure funding. Use it to leverage your position whether you’re on the borrowing end seeking growth, or the lending end fueling another’s venture. It’s the definitive agreement that outlines every term, condition, and expectation. No surprises, no guesswork—just transparent, straightforward terms that mean business.

Bottom line—this agreement isn’t optional, it’s essential. Don’t gamble with uncertainty; solidify each promise with this powerful pact.

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How to use this Loan and Finance Agreement

Crafted for the pragmatic business owner aiming for financial reinforcement, this contract streamlines the process of securing a business or capital loan. By crystallizing the agreement into black and white, we ensure clarity and mutual understanding between borrower and lender.
Here’s what this no-nonsense contract covers to protect your interests:
  • Loan Amount: The exact figure you’ll receive, clear as day.
  • Collateral: What you’re putting on the line — we make sure it’s fair.
  • Interest Rate: We break down the cost of borrowing to the last cent.
  • Consequences of Default: If things go south, here’s the fallout. We keep it real.
  • Loan Term: No vague timeframes. You’ll know exactly when the debt is due.
  • Payment Procedure: The hows and whens of cash exchanges, made simple.
  • Party Details: No faceless transactions here. Know who you’re dealing with.
  • Repayment Schedule: Your payback blueprint — straightforward and achievable.
  • Fines for Late Payments: Staying ahead or what it’ll cost you to fall behind.
Bottom line: This contract is your guardrail on the road to fiscal growth. By including these key points, we fortify the foundation of your financial dealings, ensuring you stay informed and in control every step of the way.

Other names for Loan and Finance Agreement

  • Loan and Finance Contract. 
  • Loan Contract/Agreement  

Applicable Laws in Nigeria

The laws applicable to a Loan and Finance Agreement are as follows: 

  • Companies and Allied Matters Act, 2020
  • Contract Law of a State, e.g. Law Reforms (Contract law), Lagos State, 2015
  • Company Income Tax Act  
  • Banking and Other Financial Institution Act (Applicable where the Lender is a Bank).
  • Money Lending Law of a State where applicable 
  • Insurance Act.


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