How to write a personal loan

If you have shared resources, chances are good that at some point you have a someone personal loan questions. When this happens, you need to determine whether you can afford to lend the money, tax and revenue are considerations, and under what terms and conditions, are you willing to borrow money. You must also check, whether the borrower be in accordance with the terms and conditions deem acceptable to pay back. If you decide to continue a personal loan, have a written personal loan agreement, the duration of the loan and the payment terms.Difficulty: ModerateInstructionsThings ll need: written or loan agreement FormCalculatorCalendarWitnessNotary public1Determine, typed employees you need to charge for the loan or not interest. As you can make interest-free loans to members of the family and friends, payments are loan of certain amounts as income, and the Government expected that you have a interest. 2Create load form the personal loan. There is no law that required the loan agreement entered, but it must be readable. The form identify Canada than and will contain the date and amount of loan, the legal name and address of the borrower, the loan repayment schedule, the amount of interest (if any), the legal names and addresses of co signers, security property (assets) that you need and the consequences if refunds are not correct made. 3Write check box, or bank transfer payable to the borrower for the full amount of the loan. 4Arrange for borrowers, OPO (if necessary), and even to personal loan agreement characters at least a witness (who also must be signed) and a publicCher notary, the identification number locks secure his stamp or agreement seal after all characters and you signed copies of the loan agreement for the borrower and OPO and save the original review of the borrower. 5Make about Handdie and notarized personal loan agreement as a safe in a bank or a fireproof safe in your House somewhere.