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What is a loan contract and where can I find an example?

'Do you know where I can find an loan agreement to follow as I want to loan a pony for the winter?' 

Many people tend to seek lending options rather than purchase a horse or pony due to the accompanying cost, although many of the same obligations that you would experience with full ownership are the same when lending. 

Of course, lending is less permanant than purchasing a horse of your own, and can be a wonderful first step in experiencing what it would be like to own your own horse or pony. When done responsibly, following clear guidelines and having discussed terms thoroughly, a lending arrangement can benefit both the loanee and lender in a variety of ways. 
The specifics in a contract are critical to ensuring that you get exactly what you want when committing to any sort of ownership agreement. When completed and signed by both parties this contract will form a legally binding agreement that both parties will have to stick to. However, if you have any concerns at all about the legal process and the terms of the loan agreement, or feel unsure as to whether you can trust the loaner, always seek professional advice before signing any contracts and agreeing to the loan.
To view a sample loan agreement click here.
Alternatively, you can find useful information and examples of do's and don't's when creating a loan agreement by visiting the BHS website here.

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Alix Burchell - Horsemart
Horsemart Content Team
Published on 21-02-2022
Alix is the marketing manager for Horsemart. She'll keep you up to date with all the latest industry news and provide you with helpful guides and advice.