Georgia · Standard edition

Georgia Loan Agreement Template

Create a Georgia personal loan agreement online for a loan between family, friends, or other private parties. The Standard agreement covers the loan amount, repayment date, interest and the Georgia usury limit, prepayment, late payment, default and acceleration, collection costs under Georgia attorneys' fees rules, and borrower representations.

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Georgia rules built into this template

  • Interest limit: the maximum rate for many non-exempt private loans in Georgia is generally 16% per year for loans of $3,000 or less; larger loans may carry the rate agreed in writing, but interest above 5% per month is criminal usury (O.C.G.A. §§ 7-4-2, 7-4-18).
  • Attorneys' fees: In Georgia, attorneys' fees under a loan agreement are limited to 15% of the first $500 of principal and interest owed and 10% of the rest, and are recoverable only if the lender gives written notice after maturity and the borrower does not pay in full within ten (10) days after receiving it (O.C.G.A. § 13-1-11).
  • Savings clause: any interest or charge above the legal maximum is reduced to that maximum, and any excess paid is credited to principal or refunded.

What the Loan Agreement includes

  1. Loan
  2. Repayment
  3. Interest
  4. Maximum Lawful Rate
  5. Prepayment
  6. Late Payment
  7. Events of Default
  8. Remedies
  9. Collection Costs
  10. Security
  11. Borrower Representations
  12. Waivers
  13. Transfer
  14. Notices
  15. State Law
  16. General Provisions
  17. Governing Law

Frequently asked questions

What is the maximum interest rate on a personal loan in Georgia?
For many non-exempt loans between private parties, generally 16% per year for loans of $3,000 or less; larger loans may carry the rate agreed in writing, but interest above 5% per month is criminal usury (O.C.G.A. §§ 7-4-2, 7-4-18). Different limits or exemptions may apply depending on the lender, the purpose, and the amount of the loan.
Can a lender recover attorneys' fees on a loan in Georgia?
In Georgia, attorneys' fees under a loan agreement are limited to 15% of the first $500 of principal and interest owed and 10% of the rest, and are recoverable only if the lender gives written notice after maturity and the borrower does not pay in full within ten (10) days after receiving it (O.C.G.A. § 13-1-11).
What is the difference between the Standard and Professional Loan Agreement?
The Standard edition is a complete, state-aware Loan Agreement for common situations. The Professional edition adds longer clause coverage, schedules, and optional modules for more complex matters. You can preview either edition free before you pay.

Loan Agreement templates for other states

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