If money is being loaned, it is important to have a robust loan agreement in place setting out the terms and conditions of the loan. As well as providing certainty for both parties, this is the best way to minimise the risk of a misunderstanding or disagreement arising at a future date.
At Thornton Jones, our loan agreement solicitors have extensive experience in drafting documentation for both secured and unsecured lending. We will work with you to establish what conditions will apply to the loan and where necessary negotiate on your behalf to agree on the terms to be included.
Our Commercial Law Solicitors have a strong understanding of the needs of businesses and individuals when dealing with loans. We will ensure that the loan agreement is tailored to your requirements and drafted in the light of your long-term commercial aims.
Our loan agreement expertise
We deal with all types of loan agreements, including:
- Directors’ loan agreements
- Shareholder loan agreements
- Intercompany loans
- Secured property loans
- Secured lending, including third party guarantee and indemnity and charges over assets such as shares
- Unsecured loans
Directors’ and shareholders’ loan agreements
It is common for directors and shareholders to loan money to a company, but it is crucial to ensure that this is both properly recorded and that it is clear what the money can be used for.
We can provide a contract for a loan to be made by directors or shareholders that clearly sets out the terms of the agreement and protects the borrower’s interests as far as possible.
We also deal with loans made by companies to directors, ensuring they stand up to scrutiny and that the director’s position is clear.
In addition to drafting robust loan agreements, we will also advise you on related matters such as tax implications.
Intercompany loans
An intercompany loan agreement or intracompany loan agreement deals with lending between two companies where both are part of a business group of companies, such as a company and a subsidiary.
Secured lending
We deal with lending secured against assets such as property, business assets, commercial premises and shares, ensuring that the charge is correctly registered.
We also draw up guarantee documentation for loans that are guaranteed by third parties.
Unsecured lending
Where lending is unsecured, we will advise you on the terms and conditions to include in the agreement and ensure you have robust rights to take enforcement action where necessary.
If a loan is made between family members, we will deal with the matter sensitively while still providing advice designed to protect your interests as far as possible.
Loan agreement FAQs
Speak to our loan agreements solicitors in Garforth, Ossett, Sherburn in Elmet and Wakefield today
For advice on software agreements in Yorkshire, please contact our local offices in Garforth, Ossett, Sherburn in Elmet or Wakefield.
Have a quick question or want to request a call back? Use our online enquiry form.
Contact Us
Call our Wakefield office on 01924 290 029 Call our Garforth office on 0113 246 4423 Call our Sherburn in Elmet office on 01977 350 500 Call our Ossett office on 01924 586 466
