A loan agreement is a formal contract between a lender and a borrower that outlines the terms and conditions of a loan. It specifies the amount of money being borrowed, the interest rate, repayment schedule, and any associated fees or penalties. The agreement also details the obligations and rights of both parties, including what happens in the event of default or late payments. Loan agreements are used in various contexts, including personal loans, mortgages, business loans, and student loans, and are legally binding documents that protect both the lender’s investment and the borrower’s rights.
NKGen Biotech Takes Bold Financial Steps A recent loan to NKGen Biotech has raised eyebrows in the financial community, boasting an eye-popping annual interest rate of 12%. Initiated on December…