Llc Member Loan Agreement Template – US

Disclaimer

The information provided is intended solely as a general example for illustrative purposes related to private loan agreements involving limited liability company members. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in corporate or contractual law. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.

Please note: This is a sample LLC Member Loan Agreement template for illustrative purposes only. Actual terms may differ based on specific arrangements and applicable laws.

LLC Member Loan Agreement Sample

Parties Involved:

Lender: ABC LLC
Address: 123 Business Rd., City, State ZIP

Borrower: John Doe / Member of ABC LLC
Address: 456 Member Lane, City, State ZIP

Loan Details:

The LLC shall provide the borrower with a loan of $50,000, intended for business purposes. The loan shall accrue interest at an annual rate of 5%, payable monthly, with a repayment term of 24 months.

Repayment Terms:

The borrower shall make monthly payments of $2,200, including principal and interest, beginning on the 1st of the month following disbursement. Early repayment is allowed without penalty.

Borrower Responsibilities:

The borrower agrees to use the loan solely for authorized business activities and to make timely payments as per the schedule. The borrower shall provide periodic financial statements upon request.

Governing Law:

This agreement shall be governed by the laws of the State of [Insert State]. Disputes shall be resolved within the courts of [Insert County/State].

Additional Provisions:

• The borrower shall not assign this agreement without prior written consent from the lender.
• Amendments must be in writing and signed by both parties.
• In case of default, the lender may pursue legal remedies including acceleration of the remaining balance.

[City], ______________________