Pay and Benefits documents
Loan repayment agreement letter template
This is an an agreement that should be issued where an employee takes out a loan from their employer.
Loan repayment agreement
Dear [Recipient first name],
This letter sets out the terms on which the organisation is prepared to advance you a loan of £[amount] in accordance with your request dated [date] for the purpose of [purchasing a season ticket/meeting welfare expenses/meeting payments as a result of financial hardship]:
The loan will be free of interest and repayable on a [monthly/weekly] basis, commencing on [date] at the rate of £[amount] per [month/week] by way of deduction from your salary.
In the event that you leave the organisations employment for whatever reason before the loan has been repaid in full, you will be required to reimburse the organisation for the outstanding amount of the loan.
The full Loan repayment agreement letter template will be displayed above once you purchase either this document individually, or as part of the following pack:
31 March 2021
If you have purchased the document, or if it is FREE, simply copy/email/download and replace any highlighted wording contained in "[ ]", with your details.