The Credit Loan Agreement is a fundamental financial instrument used in Nigerian banking and commercial transactions when one party (the lender) agrees to provide financial accommodation to another party (the borrower). This document is essential for both corporate and individual lending, structured in compliance with Nigerian banking laws, particularly BOFIA 2020 and CBN regulations. It's commonly used for various purposes including business expansion, asset acquisition, working capital, and project financing. The agreement must incorporate mandatory regulatory requirements, including interest rate guidelines, consumer protection provisions, and security registration requirements. It serves as the primary document governing the lending relationship, detailing all aspects from disbursement to repayment, and providing mechanisms for enforcement under Nigerian law.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the lender and borrower with full legal names, addresses, and registration details if companies
2. Background: Context of the loan agreement, including the borrower's request and lender's agreement to provide the facility
3. Definitions: Definitions of key terms used throughout the agreement
4. Facility Amount and Purpose: Specification of loan amount, currency, and permitted purpose of the facility
5. Interest and Fees: Details of interest rate, calculation method, fees, and charges
6. Drawdown: Conditions and procedures for accessing the loan facility
7. Repayment Terms: Schedule of repayments, prepayment provisions, and payment methods
8. Representations and Warranties: Statements of fact and assurances from the borrower
9. Borrower Covenants: Positive and negative obligations of the borrower during the loan term
10. Events of Default: Circumstances constituting default and consequences
11. Enforcement and Remedies: Lender's rights and remedies upon default
12. Notices: Process for formal communications between parties
13. Governing Law and Jurisdiction: Specification of Nigerian law and jurisdiction for disputes
14. Execution: Signature blocks and execution formalities
1. Security Arrangements: Include when the loan is secured by collateral, describing the security structure and enforcement rights
2. Guarantees: Include when there are third-party guarantors for the loan
3. Insurance Requirements: Include when specific insurance coverage is required for secured assets or borrower
4. Assignment and Transfer: Include when either party may need to transfer rights under the agreement
5. Multiple Borrowers: Include when there are multiple borrowers, defining joint and several liability
6. Currency Provisions: Include for loans disbursed in foreign currency, addressing exchange rate risks
7. Change of Circumstances: Include provisions for material adverse changes or force majeure events
8. Tax Provisions: Include detailed tax clauses when tax implications are significant or complex
1. Drawdown Notice: Template form for requesting disbursement of loan funds
2. Repayment Schedule: Detailed schedule of repayment dates and amounts
3. Conditions Precedent: List of documents and conditions required before drawdown
4. Security Details: Detailed description of any collateral or security arrangements
5. Fee Schedule: Detailed breakdown of all applicable fees and charges
6. Required Insurance: Specifications of required insurance coverage
7. Permitted Security Interests: List of existing or permitted security interests over borrower's assets
8. Compliance Documents: List of required compliance certificates and reporting forms
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Agriculture
Oil and Gas
Telecommunications
Retail
Healthcare
Construction
Transportation
Technology
Mining
Education
Hospitality
Small and Medium Enterprises
Relevant Teams
Legal
Finance
Risk Management
Compliance
Credit Operations
Treasury
Business Development
Corporate Banking
Documentation
Operations
Company Secretariat
Relevant Roles
Chief Financial Officer
Legal Counsel
Finance Manager
Credit Risk Officer
Compliance Officer
Relationship Manager
Treasury Manager
Commercial Director
Business Development Manager
Corporate Secretary
Risk Manager
Operations Manager
Financial Controller
Credit Analyst
Account Manager
Documentation Officer
Find the exact document you need
Simple Interest Loan Contract
A Nigerian law-governed agreement establishing terms for a loan with simple interest calculation, including repayment terms and party obligations.
Download
Factoring Agreement
A Nigerian law-governed agreement establishing terms for the purchase of accounts receivable by a Factor from a Client, including pricing, procedures, and parties' obligations.
Download
Employees Loan Agreement
A Nigerian law-governed agreement establishing terms for workplace loans between employers and employees, including repayment through salary deductions.
Download
Co Financing Agreement
A Nigerian law-governed agreement establishing terms for multiple financial institutions to jointly finance a project, including contribution ratios, disbursement mechanisms, and inter-creditor arrangements.
Download
Litigation Funding Agreement
A Nigerian law-governed agreement setting out terms for third-party funding of litigation, including funding commitments, returns, and risk allocation.
Download
Loan Facilitation Agreement
A Nigerian law-governed agreement establishing terms for loan facilitation services between lenders and borrowers, ensuring regulatory compliance and defining party obligations.
Download
Simple Loan Term Sheet
A Nigerian law-governed preliminary document outlining key commercial and legal terms for a proposed loan facility, serving as the basis for a detailed loan agreement.
Download
Loan For Use Agreement
A Nigerian law-governed agreement allowing temporary, free use of an item or asset, with an obligation to return it in its original condition.
Download
Hire Purchase Agreement For Car
A Nigerian law-governed agreement for the purchase of a vehicle through installment payments, with ownership transferring upon final payment.
Download
International Loan Agreement
Nigerian law-governed agreement for international lending transactions, incorporating local regulatory requirements and international banking standards.
Download
Film Financing Agreement
A Nigerian law-governed agreement setting out terms for film production financing, including investment structure, rights, and profit-sharing arrangements.
Download
Undertaking Loan Agreement
A Nigerian law-governed loan agreement setting out terms, conditions, and undertakings between lender and borrower, with specific compliance requirements under Nigerian banking regulations.
Download
Trade Finance Agreement
Nigerian law-governed agreement establishing terms for trade finance facilities between financial institutions and trading entities, incorporating local regulatory requirements and international practices.
Download
Real Estate Loan Agreement
A Nigerian law-governed agreement establishing terms for a real estate-secured loan, including property security arrangements and regulatory compliance requirements.
Download
Project Finance Contract
A Nigerian law-governed agreement establishing terms for project financing of large-scale infrastructure or development projects, incorporating local regulatory requirements and international best practices.
Download
Official Loan Agreement
A Nigerian law-governed loan agreement establishing formal lending terms between parties, compliant with local banking regulations and financial laws.
Download
Margin Loan Agreement
A Nigerian law-governed agreement establishing terms for margin lending facilities, including loan terms, collateral requirements, and regulatory compliance measures.
Download
Loan Swap Agreement
A Nigerian law-governed agreement enabling the exchange of loan obligations between parties, including provisions for interest rate or currency swaps and regulatory compliance.
Download
Financing Contract Agreement
A Nigerian law-governed agreement establishing the terms and conditions of a financing facility between lender and borrower, including loan terms, security arrangements, and regulatory compliance requirements.
Download
Financial Support Agreement
A Nigerian law-governed agreement establishing terms for financial support between parties, including funding terms, repayment conditions, and regulatory compliance requirements.
Download
Financial Assistance Agreement
A Nigerian law-governed agreement establishing terms and conditions for providing financial assistance, including loan terms, security arrangements, and regulatory compliance requirements.
Download
Financial Agreement Between Two Parties
A Nigerian law-governed financial agreement template for structuring financial arrangements between two parties, ensuring regulatory compliance and clear terms.
Download
Car Loan Agreement Between Individuals
A Nigerian-law governed agreement between private individuals for a car loan, establishing terms, conditions, and security arrangements for vehicle financing.
Download
Car Loan Agreement Between Family
A Nigerian law-governed agreement formalizing a car loan arrangement between family members, including loan terms, vehicle security, and repayment provisions.
Download
Car Installment Agreement
A Nigerian law-governed agreement for vehicle purchase through installment payments, detailing payment terms, ownership rights, and party obligations.
Download
Car Finance Contract
A Nigerian law-governed agreement establishing terms and conditions for vehicle financing, including payment obligations, security interests, and regulatory compliance requirements.
Download
Bridge Financing Agreement
A Nigerian law-governed agreement providing temporary financing to bridge gaps between immediate capital needs and long-term funding solutions.
Download
Bridge Facility Agreement
A Nigerian law-governed temporary financing arrangement providing short-term funding while permanent financing is arranged.
Download
Auto Finance Contract
A Nigerian law-governed vehicle financing agreement that structures the terms and conditions for vehicle purchase financing, ensuring compliance with local banking and consumer protection regulations.
Download
Motorcycle Hire Purchase Agreement
A Nigerian law-governed agreement for motorcycle purchase through hire purchase arrangements, detailing payment terms, ownership rights, and obligations.
Download
Tri Party Loan Agreement
A Nigerian law-governed agreement establishing a three-way loan arrangement between lender, borrower, and a third party, detailing loan terms and parties' obligations.
Download
Standard Hire Purchase Agreement
A Nigerian law-governed agreement enabling purchase of goods through installments, with ownership transferring upon final payment.
Download
Master Asset Finance Agreement
A Nigerian law-governed master agreement establishing terms for ongoing asset financing arrangements between a financial institution and borrower.
Download
Development Credit Agreement
A Nigerian law-governed agreement establishing terms for development financing, including credit facility arrangements, project implementation requirements, and compliance obligations.
Download
Consortium Loan Agreement
A Nigerian law-governed agreement establishing terms for a multi-lender loan facility, including syndication and security arrangements.
Download
Small Business Loan Agreement
Nigerian-law governed loan agreement between a financial institution and small business, detailing loan terms, security, and obligations under CBN regulations.
Download
Small Credit Agreement
Nigerian-law governed Small Credit Agreement template for structured small-scale lending transactions, compliant with local banking and consumer protection regulations.
Download
Mortgage Loan Purchase Agreement
A Nigerian law-governed agreement for the sale and purchase of mortgage loan portfolios between financial institutions, including transfer and servicing arrangements.
Download
Loan Agreement Between Lender Borrower And Guarantor
Nigerian law-governed loan agreement establishing lending terms between lender, borrower, and guarantor, with comprehensive security and obligation provisions.
Download
Monthly Payment Plan Agreement
A Nigerian law-governed agreement establishing structured monthly payment terms between parties, including payment schedules, conditions, and regulatory compliance requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)