Ohio · Standard edition

Ohio Loan Agreement Template

Create a Ohio 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 Ohio usury limit, prepayment, late payment, default and acceleration, collection costs under Ohio attorneys' fees rules, and borrower representations.

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Ohio rules built into this template

  • Interest limit: the maximum rate for many non-exempt private loans in Ohio is generally 8% per year for many written loans, with exceptions such as loans over $100,000 (Ohio Rev. Code § 1343.01).
  • Attorneys' fees: In Ohio, a clause requiring the borrower to pay the lender's attorneys' fees is enforceable only if the loan is not primarily for personal, family, or household purposes and the total owed when the loan agreement was signed was more than $100,000, and then only for a reasonable amount (Ohio Rev. Code § 1319.02).
  • 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 Ohio?
For many non-exempt loans between private parties, generally 8% per year for many written loans, with exceptions such as loans over $100,000 (Ohio Rev. Code § 1343.01). 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 Ohio?
In Ohio, a clause requiring the borrower to pay the lender's attorneys' fees is enforceable only if the loan is not primarily for personal, family, or household purposes and the total owed when the loan agreement was signed was more than $100,000, and then only for a reasonable amount (Ohio Rev. Code § 1319.02).
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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