The Simple Loan Term Sheet is a crucial preliminary document used in Nigerian lending transactions to establish the fundamental terms and conditions of a proposed loan facility. It serves as a roadmap for the preparation of detailed loan documentation and is commonly used across various sectors of the Nigerian economy. The document typically precedes the full loan agreement and captures the commercial understanding between the lender and borrower, including essential terms such as facility amount, interest rate, tenure, security structure, and key conditions. While primarily used in the Nigerian jurisdiction and subject to Nigerian law, the format aligns with international banking practices while incorporating local regulatory requirements. The Simple Loan Term Sheet is particularly valuable in commercial lending scenarios where parties need to quickly document their initial understanding before proceeding with comprehensive due diligence and detailed documentation.
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: Details of the Lender and Borrower, including full legal names, registration numbers (if applicable), and addresses
2. Background: Brief context of the loan arrangement and purpose
3. Definitions: Key terms used throughout the term sheet
4. Facility Amount: The principal amount of the loan being made available
5. Purpose: Specified use of the loan proceeds
6. Interest Rate: The applicable interest rate, calculation method, and payment frequency
7. Term: Duration of the loan and maturity date
8. Repayment Terms: Schedule and method of repayment (e.g., bullet payment, amortization)
9. Security: Overview of any collateral or security required
10. Conditions Precedent: Key conditions that must be satisfied before the loan is advanced
11. Representations: Basic representations made by the borrower
12. Covenants: Key undertakings by the borrower
13. Events of Default: Circumstances that would trigger a default
14. Governing Law: Confirmation that Nigerian law governs the agreement
1. Guarantor: Details of any guarantor(s) - include when personal or corporate guarantee is required
2. Fee Structure: Details of arrangement fees, commitment fees, etc. - include when additional fees apply beyond interest
3. Prepayment Terms: Conditions for early repayment - include when early repayment is permitted
4. Insurance Requirements: Required insurance coverage - include when specific insurance is required for security
5. Account Structure: Details of designated accounts - include when specific account arrangements are required
6. Tax Provisions: Tax-related obligations - include when complex tax considerations apply
7. Assignment Rights: Rights to assign or transfer the loan - include when assignment might be contemplated
1. Repayment Schedule: Detailed amortization table or repayment dates
2. Security Details: Comprehensive list and description of security/collateral
3. Conditions Precedent Checklist: Detailed list of required documents and conditions
4. Form of Drawdown Notice: Template for requesting loan disbursement
5. KYC Requirements: List of required know-your-customer documentation
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Manufacturing
Agriculture
Oil & Gas
Telecommunications
Retail
Construction
Healthcare
Technology
Transportation & Logistics
Mining
Education
Hospitality
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Banking
Credit Analysis
Business Development
Operations
Investment
Portfolio Management
Company Secretariat
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Relationship Manager
Credit Officer
Risk Manager
Legal Counsel
Compliance Officer
Financial Controller
Business Development Manager
Managing Director
Investment Officer
Portfolio Manager
Corporate Banking Officer
Loan Officer
Financial Analyst
Chief Executive Officer
Company Secretary
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)