Login

Fillable Printable Loan Agreement Form Micro Finance Scheme

Fillable Printable Loan Agreement Form Micro Finance Scheme

Loan Agreement Form Micro Finance Scheme

Loan Agreement Form Micro Finance Scheme

Humanitarian and Charitable ONE Trust(HACOT)
34 Sun Street
Waltham Abbey
EN9 1EJ
UNITED KINGDOM
Tel: (01992) 718711
Email: [email protected]cot.org
Website: //www.hacot.org
UK Charity Registration No.
Loan Agreement Form
MICROFINANCE SCHEME
THIS AGREEMENTisdated ( ) and made between:
(1) HACOT(Herein referred to as the Charityand Lender) Charity No. ____________ of 34
Sun Street, Waltham Abbey EN9 1EJ United Kingdom
and (2)Mr ____________________(Herein referred to as the borrower) of
______________________________________________
IT IS AGREEDas follows:
1
DEFINITIONS AND INTERPRETATION
‘Application Form’
means the application form submitted by the applicant for a microfinance
loan for economic upliftment.
‘Available Amount’means the amount under this Agreement given by the Charity (HACOT) to
Mr ____________________ for the purpose of economic upliftment
2
THE FACILITY
2.1 Subject to the terms of this Agreement, the Charity ( HACOT ) will advance the sum of
( ), the
sums to be used only for the business plan identified in the Application Form as agreed by the
parties.
2.2 The Loan period will start on ______________ and continue for a period of ____ months
until _______________
3
CONDITIONS OF UTILISATION
3.1 Mr _______________________ agrees to verify his identification and sources of current
income prior to the advancement of the loan
3.2 Mr _______________________ does not have any outstanding loans at present or any
outstanding loans at present which the lender is not aware of
4
REPAYMENT
4.1 The borrower shall repay the loan in equal instalments every month for ___________ months
4.2 A repayment schedule is attached, herewith
5 REPRESENTATIONS AND UNDERTAKINGS
5.1 The borrower represents that the entire sum borrowed under this Agreement shall be for the
purposes of purchasing capital itemsand stockas identified in the Application Form and shall not
be used for any other purposes.
5.2 The borrower undertakes not to sell any of the machinery, vehicle or stock or items purchased
by way of this loan Agreement without the prior written consent of the Charity.
5.3 The borrower undertakes to provide the Charity financial statements and figures as agreed
between the Parties every _________ months
5.4 The borrower represents that no Event of Default is continuing or might reasonably be
expected
5.5 Any factual information provided by the borrower is true and accurate in all material aspects
as at the date it was provided
6
EVENTS OF DEFAULT
Each of the events or circumstances set out below in Clause 6 is an Event of Default
6.1 Non-Payment. The borrower does not pay on the due date any amount payable unless the
failure to pay is caused by administrative or technical error, or payment is made within 5 days of
the due date
6.2 Any requirement under Clause 5 is not met
6.3 Misrepresentation. Anyrepresentation or statement made by the borrower is incorrect or
misleading in any material aspect when made or deemed to be made
6.4 Insolvency. The borrower is unable or admits to inability to pay his/her debts as they fall due,
suspends making paymentson any of its debts or, by reason of actual or anticipated financial
difficulties, commences negotiations with one or more of its creditors with a view to
rescheduling any of its indebtedness
6.5 Unlawfulness. It is or becomes unlawful for a borrower or lender to perform any of its
obligations under the Agreement
Acceleration. On and at any time after the occurrence of an Event of Default the lender may:
(a)Declare some or all of the loan immediately due
(b)Declare the amounts outstanding payable on demand
7
GOVERNING LAW AND ENFORCEMENT
7.1 This Agreement is governed by ______________ Law
7.2 The Courts of ______________ have exclusive jurisdiction to settle any dispute arising out of
or in connection with this Agreement
Name of Lender: ___________________________________________
Signature (1) ____________________________ PRINT NAME _________________________
Signature (2) ____________________________ PRINT NAME _________________________
Name of Borrower: _____________________________
Signature: _____________________________________
Name of Witness: __________________________________________
Signature: ___________________________________________
Login to HandyPDF
Tips: Editig or filling the file you need via PC is much more easier!
By logging in, you indicate that you have read and agree our Terms and Privacy Policy.