We have published a free template loan agreement for individuals (and their advisers) who are applying for a UK Tier 1 entrepreneur visa.
If you are making a loan to an existing UK business,
this free template loan agreement can help you save time and money.
The template agreement helps you tick important boxes by making sure that:
- the loan is subordinated to other creditors;
- the loan agreement specifies what employment positions are being created;
- the lender is entitled to be appointed as a director;
- the loan is linked to a definite business plan (which you will need to make sure is in place), so that you (or the client) can show genuine entrepreneurial activity, not blind investment for the sake of it.
The template is not a substitute for legal advice to make sure you are making the loan to a company worth investing in, and that your interests are protected.
To access your copy of the template, click here.