Loan Extension Agreement Template

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Updated August 04, 2022

A loan extension agreement allows the maturity date to be extended on a current note. This gives the borrower more time to pay back the borrowed money. In addition, the lender and borrower can agree to modify any other terms of the agreement as necessary.

Can be used for

  • Auto loans;
  • Business loans;
  • Construction loans;
  • Mortgages;
  • Payday loans;
  • Personal loans; and
  • School loans.

Sample

LOAN EXTENSION AGREEMENT

I. THE PARTIES. This Loan Extension Agreement (“Extension”) made this [DATE], is by and between:

Borrower: [BORROWER’S NAME] with a mailing address of [ADDRESS] (“Borrower”), and

Lender: [LENDER’S NAME] with a mailing address of [ADDRESS] (“Lender”).

Borrower and Lender are each referred to herein as a “Party” and, collectively, as the “Parties” and agree to the following:

II. ORIGINAL NOTE. This Extension is amending a loan agreement that exists between the Parties for borrowed money equal to $[AMOUNT] that was given to the Borrower on [DATE] (“Original Note”).

III. EXTENSION. The Parties agree to extend the maturity date mentioned in the Original Note to the date of [MATURITY DATE] (“Extension Date”).

IV. ADDITIONAL TERMS. The Parties agree to: (check one)

☐ – No additional terms.

☐ – The following additional terms: [ADDITIONAL TERMS & CONDITIONS]

The Parties agree that all the other terms and conditions of the Original Note shall be in effect.

IN WITNESS WHEREOF, the Parties have indicated their acceptance of the terms of this Agreement by their signatures below on the dates indicated.

Borrower’s Signature: ________________________ Date: _____________
Print Name: ________________________

Lender’s Signature: ________________________ Date: _____________
Print Name: ________________________

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