Fillable Printable Loan Agreement Sample Form

Loan Agreement Sample Form

Place:Date:

LoanAgreement

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1.PartiesoftheAgreement

1.1."Thelender"‐JSCMicrofinanceOrganizationCrystal;registrationnumber:212896570;legaladdress:72Tamar

MepeStr.,Kutaisi,4600Georgia

1.2."TheBorrower"‐

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"Thelender"and"TheBorrower"actingundertheCountrylegislationandtherightsunderthecharterofthelender,

haveagreedonthefollowing:

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2.SubjectoftheAgreement

2.1.OnthebasisofthetermsspecifiedinthisAgreement,theLenderisprovidingtheBorrowerwiththeloan

2.2.LenderandBorrowertakeresponsibilitytofulfillcommitmentstowardseachotherfullyandinaduetime

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3.GeneralTermsandConditionsoftheLoan

3.1.VolumeandcurrencyoftheLoan

3.2.MaturityoftheLoan(#ofmonth)

3.3.Graceperiod

3.4.Interestrate

3.5.Commission(Origination)fee

3.6.Penaltyforthelatepayment

3.7.Penaltyforpre‐payment

3.8.Purposeoftheloan

3.9.LoanProvision/Collateral

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3.10.Additionalconditions

3.10.1TheBorrowershouldusetheloan onlyaccordingtotheinformation/purposegivenintheloanapplication.

OtherwisesuchactivitywillbedeemedasmisuseoftheloanandmayresultinterminationoftheAgreement.

3.10.2.Loanrepaymentiscarriedoutinaccordancewiththeattachedrepaymentschedule,whichisanintegralpart

ofthisagreement.

3.10.3.IncaseiffinancialpositionoftheBorrowerdeterioratesorthereissuchpotentialhazard,theborrowershould

presentadditionalprovisioning/guaranteesthatwillbedeemedbythelenderassatisfactory.

3.10.4.Theorderoftheloanrepaymentisasfollows:firstpenaltyiscovered(incaseifsuchliabilityexists);then

accumulatedinterest;andfinallyprincipaloftheloan.

3.10.5.Incaseofloandisbursementinseveraltranches,interestisaccumulatedbasedontheactualloanbalance.As

agreedbetweentheparties,properuseofthefirsttrancherepresentsanobligationfordisbursingremainingpartof

theloan.Incaseofviolatingthispoint,theLenderhasrighttosuspendtheremainingpartofthetrancheandrequire

immediaterepaymentofthedisbursedamount.

3.10.6.Penaltyfeeonlatepaymentwillbechargedformaximum90days.

3.10.7.TheLenderkeepsrighttoretaincommissionfeefromtheoriginalloanamount.

3.10.8.Incaseofrefinancing,ifmorethan40%oftheloanprincipaliscovered,theLenderkeepsitsrighttofreethe

borrowerfrompenaltychargesforearlypre‐payment.

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4.Reporting

4.1.UponrequestoftheLender,Borrowershouldpresentfinancialandlegaldocumentation,reflectingcurrent

activityandfinancialstatus:invoices,customsdeclarations,agreementswithsuppliersandclients,licensesand

certificates,balancesheetandetc.

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5.RightsandResponsibilitiesoftheParties

5.1.Thepartiesarerequiredtodulyexecutealltheresponsibilitiesundertakenunderthisagreement.Therefore,

eachpartyhasrighttorequireexecutionofundertakenresponsibilities.

5.2.Thepartiesareresponsibletokeepeachother'sbusinessreputationandkeepbusinessinformationconfidential.

5.3.TheBorrowerisrequiredtodulycoverallliabilitiesundertakenunderthisagreement,repaythetakenloanand

interestaccumulatedonit.

5.4.AftertheLendermakesawrittenrequirement,theBorrowershouldpresentwithin5businessdaysall

informationanddocumentsrequiredbythelenderconcerninghisbusinessactivity.Borrowershouldalso

provideadequateconditionsforthelendertogetanyinformationrequiredforimplementingthisagreement.

5.5.TheBorrowershouldnotifythelenderabout:

‐Potentialchangesinfinancialorpropertyconditionsorthosefactorsthatmayleadtosuchchanges

‐Changeoflivingplaceorbusinesslocationandthedateofsuchchange.

5.6.TheLenderclaimsandensuresthat:

‐Incaseifdisputearisesbetweentheparties,unpaidaccumulatedinterestwillbedeemedasliability;

‐PuttingandimplementationofthegivenagreementdoesnotviolatetermsoftheLender’scharter

documentationoranyothertransactiontowhichtheborrowerisaparty;

‐theBorrowerwillnotrefrainfromimplementing allundertakenobligationsorwillnottransferhis

responsibilitiestoathirdpartywithoutgettingpreliminarywrittenconsentfromtheLender;

‐TheBorrowerisnotengagedinanycourtproceedingthatmayendangeritspropertyand/orassets.

5.7.Whilethisagreementremainsinforce,theBorrowerhasnorighttoundertakeanyothercreditliabilitiesfrom

thirdparties(physicalorlegal)withoutfirstinformingtheLenderinadvance.

5.8.TheLenderhasrighttoconductperiodicmonitoringoftheborrower’sbusinessactivity,controlfinancialstatus

oftheborrowerandcheckforchangesinloanprovisioning.Thefrequencyofmonitoringandnumberofvisitsis

determinedbythelenderwithoutgivingpriornotificationtotheborrower.

5.9.Duringcreditrelationship,theborrowertakesresponsibilitytoprovideadequateconditionsandopportunityto

lenderrepresentativesforconductingfinancialmonitoringoftheloan.

5.10.TheLendertakesresponsibilitytoprovideBorrowerwithfullandclearinformationontheloan,informaboutall

potentialfeesandcharges,andclarifytheLender’ssocialresponsibilityaswellasborrower’srights

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6.Groundsforcontracttermination

6.1.TheLenderhasrighttoterminatetheagreementandallrelevantcontractsandrequirefromtheborrower

immediaterepaymentoftheliabilitiesincaseif:

6.1.1.TheBorroweroranythirdpartiesinvolvedinloanprovisioningagreementsortheirlegalrepresentativesviolate

responsibilitiestakentowardsthelender;

6.1.2.FinancialpositionoftheBorrower(orguarantor)deterioratesandwillendangerdueandproperexecutionof

theresponsibilities;

6.1.3.TheBorrowerprovideswrongandfalseinformationtothelender;

6.1.4.Itemspresentedasloanprovisiongetdestroyed,damagedordecreaseinvalue.

6.1.5.TheloanisnotusedforduepurposebytheBorrower;

6.1.6.EquityoftheBorrowersharplygoesdown;

6.1.7.Thecaseindicatedinpoint5.7occurs;

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7.Otherconditions

7.1.TheBorroweragreestoprovidehiscreditinformationtotheNationalCreditBureau:JSC"CreditInfoGeorgia",

whichmaygiveaccesstothisinformationtoallauthorizedparties;

7.2.Thegivenagreementbecomesvalidfromthemomentbothpartiesputtheirsignaturesandremainsinforcetill

allobligationsundertakenbythepartiesarefullymet.

7.3Anychangesandadditiontothepresentagreementaretobedoneinthewrittenformand areconsideredasthe

integralpartoftheagreement.

7.4.ThepresentagreementisregulatedbytheGeorgianlegislation.

7.5Anydisputesthatrisebetweenpartiesshouldbediscussedbymutualunderstanding.Incasepartiesfaileddo

cometoagreement,thedisputewillbediscussedinthecourt.

7.6.ThepartiesagreedtheplaceoftheagreementimplementationistobethelegaladdressoftheLender

7.7.StoppageofanyparagraphsoftheAgreementdoesnotgiverisetostopthefullagreementorotherparagraphs.

7.8.Nonusageofitsrights‐responsibilitiesbyanypartydoesnotmeanitsrejection.

7.9.Thepresentagreementispreparedinthreeequalinrightscopies.OnecopyispassedtotheBorrower

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8.Signatures



"TheLender""TheBorrower"







Place:Date:

LoanRepaymentSchedule



Appendix1totheLoanAgreement#



1.Theloanrepaymentscheduleismadein:/USDorGEL

/Currency

2.Annualinterestrate:

%

3.NameofloanProduct:



4.Theamountsaretoberepaidtill17.00ontheindicateddates

5.TherepaymentcanbemadeinanyofficeofJSCMicrofinanceOrganizationCrystaloratthefollowing

bankaccountsoftheLender:



6.Loanprincipalandallchargedaretoberepaidaccordingtothetablegivenbelow:

DateLoan

Disbursement

Commission

Fee

Principle

Repayment

Interest

Repayment

Total

Repayment

Total

Balance



Total:‐‐‐‐‐‐



Signatures





/CreditOfficer/





/CreditManager/



ContactInformation:



(Legalandcurrentaddressesoftheparties;contactpersons;phonenumbers)

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