Truth Loans



Processing Fees$30,000 to $45,000 = $3000 | $101,000 and above = $7000$46,000 to 65,000 = $4000$66,000 to $100,000 = $5000Name________________________________ Will be referred to as the borrower throughout this agreement. This is an agreement between the borrower and lender Truth Loans & Investment for the sum of ________________________________________________ ($_______________). This afore-mentioned sum of money received by the borrower from the lender, herein serves as a loan, which may be issued, to the borrower once all the required documents are submitted and processed. The borrower further agrees to the chargeable interest rate of 20% on a single term loan, 25% on a double term loan and 30% on a triple term loan to be paid on principal sum from the issued date. The interest is calculated at the afore- mentioned rate, shall be due on the loan maturity date (ON THE NEXT PAYDAY). The maturity date is determined by when the loan is taken. If the loan is taken before the 25th of a given month the maturity date is the 25th of that same month. If the loan is taken after the 25th of a given month the maturation date is the 25th of the succeeding (next/following) month. The total sum (principal + interest) can be paid before, or on the due date. If the payment is not paid before or on the due date, The borrower has three (3) business days to make full payment (this is considered as the grace period), after which a late fee of Two Thousand dollars ($2000) will be applied - (principal + interest+$2000). If payment is not made at this point, there will be an additional charge of Two Hundred ($200) per day that will compound until full payment is made. The borrower further agrees that if the matter should be taken to the courts, the borrower will cover the legal expenses brought upon Truth Loans & Investment to resolve the matter. By completing this Loan Agreement & Application form and affixing your signature on same indicates that the borrower understands and agrees to be bounded by the abovementioned terms of agreement outlined and acknowledged receipt of a copy of this instrument. Borrowed amount: _____________________________ Payback amount: _______________________ Date borrowed:______________________ Payment date(s):____________, __________ ,____________ Bank account #: ________________________ Bank name and Branch: _____________________________ TRN #: _____________________________ Borrower’s Contact Number: _____________________ Emergency contact (EC) ______________________ EC tel#: _____________Relationship to EC___________Borrower’s Name: ____________________________ Borrower’s signature________________________ Witness Name: _______________________________ Witness signature: _________________________ 11049007620011049007620024892008890024892008890040894001270004089400127000Loan Term: Single Double TripleTruth Loans & Investment Representative Signature: Vaughn A. Daley Managing Director LOAN AGREEMENT Processing fee for each loan is based on amount taken. Refer to key above ................
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