how to make a contract for loaning money?

Question

I'm loaning someone a couple thousand and am looking for the right way to word the contract. Does anyone know of any resourses?

Thanks

Answer 1

Doesn't have to be too complicated. List the names of the lender and borrower, the amount, and repayment terms. Spell out those repayment terms in detail. You might want to include consequences if there are late payments or if there's a default -- include any legal costs to recover or if there's collateral, you can repo.