A loan agreement is broader than a debt and contains clauses on the entire agreement, additional expenses and the modification process (i.e. to amend the terms of the agreement). Use a loan contract for large-scale loans or from several lenders. Use a debt note for loans from non-traditional lenders such as individuals or businesses rather than banks or credit unions. Credit contracts usually contain information on: If the loan is for a significant amount, it is important that you update your last wishes to indicate how you want to manage the current loan after your death. A loan agreement is a document between a borrower and a lender that explains a credit repayment plan. This share purchase and loan agreement (the contract) is concluded from 29 July 2018 by and between OC Oerlikon Corporation AG, Pf-ffikon (seller) and Dana International Luxembourg LLP (the buyer) (one party and the parties combined). The use of a loan agreement protects you as a lender because it legally requires the borrower to repay the loan in regular or lump sum payments. A borrower can also find a loan agreement useful because he spells the details of the loan for his files and helps keep an overview of the payments. Use the LawDepot credit agreement model for business transactions, student education, real estate purchases, down payments or personal credits between friends and family. Interest is a way for the lender to calculate money on the loan and offset the risk associated with the transaction.