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Unsecured Loan: Trust To An Individual (New Loan)
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Estimated Time to Complete: 5 Min
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This Unsecured Loan Agreement assumes that the loan is being made from a trust to an individual simultaneously with the signing of this unsecured loan agreement. If the loan has already been made by the Trustee then use document Unsecured Loan: From a Trust To An Individual (existing Loan). As the Trustee is a company, a board resolution should be passed resolving to lend the money to this person and enter into a loan agreement with him/her.
Please Note: This Unsecured Loan Agreement should only be used if there is a provision in the Trust Deed enabling the Trustee to make an unsecured loan to this person.
This Unsecured Loan Agreement includes the following provisions:
1. Borrower's acknowledgement of the loan
2. Repayment of the loan
3. Early repayment
4. Interest payable
5. Default by Borrower
6. Whole agreement
7. Option to require security in future
8. Guarantee (optional)
