Free loan documents for business loans between friends/relatives
January 31, 2009 2 Comments
Now, you can formalize loans between friends and relatives for free! On 40billion.com, you can generate a customized loan document at no charge. Other websites charge up to $200 for similar services.
HOW IT WORKS
When a friend or family member views an entrepreneur’s Raise, they can offer a loan to the entrepreneur, then select the loan amount ($50 to $10,000), annual interest rate (0% or 5%), and period (12 or 24 months).
40billion.com calculates the interest and summarizes the loan terms, based on an unsecured loan with a single payment (one lump sum). 40billion.com instantly generates a professional loan document and notifies the entrepreneur via email regarding the loan offer.
The entrepreneur and lender can view the loan document online. They may print and sign the loan document, if they wish to execute a legally binding loan agreement between individuals. The lender may transfer funds to the entrepreneur by any offline method (e.g., check or cash) without worrying about extra charges and fees.
– There is no charge, so you save up to $200 at a time when you need it most!
– Instantly generate a customized loan document to formalize a loan agreement between friends or family, without straining your relationship.
– Entrepreneurs receive affordable loans from one or many individual lenders they know; even manage 100 lenders easily.
– Lenders can offer a loan with up to 5% interest annually (a higher return than your savings account), while helping out a friend or relative starting a new business.
– Track loan payment due dates, and view/print the loan document as often as you’d like.
– Receive email notifications and reminders.
TRY IT NOW
Go to http://www.40billion.com, click ‘My Account’ and start a friends-and-family loan today.