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Draft Directors Loan Agreement

18 sep Draft Directors Loan Agreement

For example, if a shareholder is an employee and wages are due by the company, the parties could use a shareholder loan agreement to describe in detail these amounts due. Some things that are often used as collateral to secure credit are: using a credit agreement protects you as a lender, as it legally imposes the borrower`s promise to repay the loan in regular payments or lump sum. A borrower may also find a credit agreement useful because it determines the loan details for its records and helps track payments.

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