When it comes to borrowing or lending money between friends, it`s always a good idea to create a simple loan agreement. This document will help to ensure that both parties are on the same page regarding the loan terms, including the amount borrowed, the interest rate (if any), and the repayment schedule.

To make the process even easier, a simple loan agreement between friends can be created using a PDF template. These templates can easily be found online and can be customized to fit the specific needs of your loan agreement.

Here are some key components that should be included in a simple loan agreement between friends:

1. Loan amount: Clearly state the amount of money being loaned in the agreement. This will help to avoid any confusion or disputes later on.

2. Repayment schedule: Outline the repayment schedule, including the amount of each payment, the frequency of payments, and the date when the loan will be fully repaid.

3. Interest rate (if any): If you`re charging interest on the loan, be sure to include the rate in the agreement. Keep in mind that interest rates should be reasonable and should be agreed upon by both parties beforehand.

4. Late payment penalties: It`s a good idea to include penalties for late payments in the agreement to encourage timely repayment. This can be a percentage of the outstanding balance, or a flat fee.

5. Signatures: Finally, both parties should sign and date the agreement to make it legally binding.

Creating a simple loan agreement between friends using a PDF template can help to ensure that both parties are clear on the terms of the loan and can avoid any potential misunderstandings or conflicts down the line. Just be sure to customize the template to fit your specific needs, and to review the agreement carefully before signing.