Security Agreement

If you're thinking of giving someone a loan, or you want to borrow, a Security Agreement can help guarantee the loan. With a Security Agreement, the borrower offers interest in a piece of personal property that will transfer to the lender if they cannot pay the loan. This can be a great way to entice a lender to make a loan, but if you're the borrower you should be positive that you can repay. A Security Agreement helps you spell out the terms and get started.

Use the Security Agreement document if:

• You're going to lend someone money, but want collateral.
• You need to borrow from a lender, and they've asked for security.