Archive for the ‘loans’ tag
Why is a Loan Agreement Needed if We Are Friends?
Some people might get it wrong why you are pushing too hard to have a loan agreement between you and your friend when he needs to loan something from you. Money is the main thing here and you do not want anything to ruin the good relationship that you have with your friends. Sometimes, money can really make the world go round, can make or break you. I would suggest that you really have to keep that habit of having a loan agreement, no matter who you are dealing with. His will ensure a good relationship between you and the borrower of your money. A signed loan agreement will keep a good relationship between you and your friend. On the other hand you are also helping your friend to be responsible borrower. The loan agreement will dictate of the loan’s term and interest.