"Shareholder Loan Agreement Template"
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What Is a Shareholder Loan Agreement?
When a corporation owes or borrows money from a shareholder, a Shareholder Loan Agreement is written up to explain the details of the loan and as evidence of the debt created between the corporation and shareholder. This can also be used to document wages owed to an employee by the corporation if the employee is a shareholder in the corporation.
You can download a Shareholder Loan Agreement template through the link below or make your own document with our online form builder.
How to Make a Shareholder Loan Agreement?
To create a Shareholder Loan Agreement you will want to include the following information:
- The names of the corporation and shareholders that the loan agreement will be between.
- A statement agreeing that the shareholder is loaning funds to the corporation.
- How repayment of the loan will be conducted, whether it will be paid back in full or partially, and a final date that the repayment is expected to be completed.
- If any interest will be applied during the life of the loan and that any interest applied will be repaid before the final repayment date stated in the previous section.
- The rate of interest applied to the loan and when interest will accrue (monthly or annually).
- Interest will be recalculated on a monthly basis until the loan is fully repaid. This calculation can also include any additional funds the corporation is loaned by the shareholder.
- An example calculation showing how accrued interest will be calculated, including a breakdown with the initial loan, interest rate, number of days between the start of the loan and the final repayment date, and the total interest amount listed.
- Acknowledgment that the interest amount will be consistent each month (if the interest is accrued annually) during the repayment process.
- A statement that the agreement will follow any local, state, or federal laws pertaining to an agreement for a shareholder loan.
- Final signature and date section listing the shareholder and representatives on behalf of the corporation.
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2Shareholder Loan Agreement
This Shareholder Loan Agreement (hereinafter referred to as the “Agreement”) is
entered into as of __________________, by and between ________________________,
with a mailing address of __________________________________________________
________________________________ (hereinafter referred to as the “Shareholder”) and
________________________, with a mailing address of __________________________
________________________________________________ (hereinafter referred to as the
“Corporation”), collectively referred to as the “Parties,” both of whom agree to be bound
by this Agreement.
BACKGROUND:
A. The Corporation is duly incorporated in ___________________.
State
B. The Shareholder holds shares in the Corporation and agrees to loan certain monies
to the Corporation.
IN CONSIDERATION OF the Shareholder providing the Loan to the
Corporation, and the Corporation repaying the Loan to the Shareholder, both
parties agree to keep, perform, and fulfill the promises, conditions, and agreements
below:
1. Loan Amount and Interest. T he Shareholder promises to loan $_____________ to
the Corporation (hereinafter referred to as the “Loan”) and the Corporation promises to
repay this principal amount to the Shareholder at such address as may be provided in
writing, with interest payable on the unpaid principal at the rate of _____________% per
annum, calculated yearly not in advance.
2. Payment. T he Loan is repayable in full on ___________________. At any time while
not in default under this Agreement, the Corporation may pay the outstanding balance
then owing under this Agreement to the Shareholder without further bonus or penalty.
3. Default. N otwithstanding anything to the contrary in this Agreement, if the
Corporation defaults in the performance of any obligation under this Agreement, then the
Shareholder may declare the principal amount owing under this Agreement at that time to
be immediately due and payable.
©
T EMPLATEROLLER.COM
Shareholder Loan Agreement
This Shareholder Loan Agreement (hereinafter referred to as the “Agreement”) is
entered into as of __________________, by and between ________________________,
with a mailing address of __________________________________________________
________________________________ (hereinafter referred to as the “Shareholder”) and
________________________, with a mailing address of __________________________
________________________________________________ (hereinafter referred to as the
“Corporation”), collectively referred to as the “Parties,” both of whom agree to be bound
by this Agreement.
BACKGROUND:
A. The Corporation is duly incorporated in ___________________.
State
B. The Shareholder holds shares in the Corporation and agrees to loan certain monies
to the Corporation.
IN CONSIDERATION OF the Shareholder providing the Loan to the
Corporation, and the Corporation repaying the Loan to the Shareholder, both
parties agree to keep, perform, and fulfill the promises, conditions, and agreements
below:
1. Loan Amount and Interest. T he Shareholder promises to loan $_____________ to
the Corporation (hereinafter referred to as the “Loan”) and the Corporation promises to
repay this principal amount to the Shareholder at such address as may be provided in
writing, with interest payable on the unpaid principal at the rate of _____________% per
annum, calculated yearly not in advance.
2. Payment. T he Loan is repayable in full on ___________________. At any time while
not in default under this Agreement, the Corporation may pay the outstanding balance
then owing under this Agreement to the Shareholder without further bonus or penalty.
3. Default. N otwithstanding anything to the contrary in this Agreement, if the
Corporation defaults in the performance of any obligation under this Agreement, then the
Shareholder may declare the principal amount owing under this Agreement at that time to
be immediately due and payable.
©
T EMPLATEROLLER.COM
Further, if the Shareholder declares the principal amount owing under this Agreement to
be immediately due and payable, and the Corporation fails to provide full payment,
interest in the amount of __________ percent, calculated yearly not in advance, will be
charged on the outstanding amount, commencing the day the principal amount is declared
due and payable until full payment is received by the Shareholder.
4. Costs. All costs, expenses, and expenditures including, and without limitation, the
complete legal costs incurred by enforcing this Agreement as a result of any default by
the Corporation, will be added to the principal then outstanding and will immediately be
paid by the Corporation.
5. Assignment. T his Agreement will pass to the benefit of and be binding upon the
respective heirs, executors, administrators, successors, and assigns of the Corporation.
The Corporation waives presentment for payment, notice of non-payment, protest, and
notice of protest.
6. Amendments. This Agreement may only be amended or modified by a written
instrument executed by both the Corporation and the Shareholder.
7. Severability. T he clauses and paragraphs contained in this Agreement are intended to
be read and construed independently of each other. If any part of this Agreement is held
to be invalid, this invalidity will not affect the operation of any other part of this
Agreement.
8. Governing Law. T he Parties agree that this Agreement shall be additionally governed
by the laws of _____________________.
State
The Parties agree to the terms and conditions set forth above as demonstrated by their
signatures as follows:
_________________________________
_________________________________
Shareholder’s Printed Name
Corporation’s Printed Name
_________________________________
_________________________________
Shareholder’s Signature
Corporation’s Signature
_________________________________
_________________________________
Date
Date
©
T EMPLATEROLLER.COM
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