When it comes to private credit, it may be even more important to use a credit agreement. To the IRS, money exchanged between family members can look like either gifts or loans for tax purposes. If you still haven`t seen the $200 you lent Uncle Fred in 1995, it`s time to change the way you lend money. Protect both borrowers and lenders with our free credit agreement template! Simply fill out the attached credit agreement form to carefully document the credit amount, interest rate, contract details and terms, and our presentation immediately converts the information into professional PDF documents. Download or print PDFs to track credit repayments or automatically email them to borrowers to receive their documents. Late – If the borrower is in arrears due to non-payment, the interest rate is due to the balance of the loan until the loan is paid in full, in accordance with the agreement established by the lender. . . .