However, a loan model makes giving up document making a breeze. If you need to borrow money from a friend, it is best to set aside your friendship and simply consider it a business with friends and create an official money loan agreement with all the details surrounding the transaction. Credit guarantee (personal) – If someone does not have enough credit to lend money, this form also allows someone else to answer if the debt is not paid. A one-sided document is all that is needed to establish a binding payment agreement letter. The following example is a template that can be easily adapted to a large number of transactions. If a friend agrees to provide goods, services or money to another friend, the payment letter is an indispensable part of the transaction. As far as legal forms and models are concerned, the draft credit agreement is valuable. Whether you are the person lending money or the lender, a contract is a necessity…