A Loan Agreement Letter is an official document that outlines the agreement between a lender and a borrower. This letter specifies the details of the loan, including the amount of money being loaned, the interest rate, repayment schedule, and other pertinent information. In addition to outlining the terms of the loan, this document also serves as proof of the transaction and creates a legally binding agreement between both parties. It’s important to note that this letter should be taken seriously, and must be kept in a safe place for future reference. By signing a Loan Agreement Letter, lenders and borrowers are committing to uphold the terms stated in this document.