Loan Agreement - Personal - Colorado
PERSONAL LOAN AGREEMENT — COLORADO
Before you use this: This form is for one unsecured private loan to an individual for personal or household use, excluding medical debt. The lender must not regularly make or arrange loans as a business. A regular lender or a loan with collateral, fees, or a different interest structure needs separate consumer-credit review. Complete the fixed rate and payment schedule before signing.
This agreement is made on [__/__/____] between [LENDER FULL LEGAL NAME], of [LENDER ADDRESS] ("Lender"), and [BORROWER FULL LEGAL NAME], of [BORROWER ADDRESS] ("Borrower").
Loan and funding
Lender agrees to advance $[AMOUNT] to Borrower on [__/__/____] by [TRANSFER METHOD]. Borrower will use the funds for [PERSONAL OR HOUSEHOLD PURPOSE, OTHER THAN MEDICAL DEBT]. This loan is unsecured. Lender will give Borrower written confirmation of the amount and date actually advanced. Borrower's repayment obligation begins when funds are advanced.
Interest and repayment
Interest accrues only on unpaid principal at [____]% annual simple interest (enter 0 for an interest-free loan; this form uses no rate above 8%) until the obligation is paid. For each day, interest equals unpaid principal multiplied by the annual rate divided by 365 in an ordinary calendar year, or by 366 in a leap calendar year. Interest does not compound. Borrower will pay $[AMOUNT] first on [__/__/____] (choose a date after the advance from the 1st through the 28th), then on that same day of each following month until the final due date or earlier full payment. Each installment is limited to the unpaid principal and accrued interest then due. All unpaid principal and accrued interest are due on [__/__/____] (on or after the first scheduled payment date). Payments apply first to accrued interest, then to principal. Borrower may prepay all or part at any time without a charge; a partial prepayment does not postpone the next scheduled due date unless the parties sign a change.
Neither party may add an origination fee, late fee, default interest, or prepayment penalty under this agreement. The rate and payments written here are the entire consideration for making the loan.
Missed payment and collection
If a payment is more than [____] days late, Lender may give Borrower written notice of the missed amount. If Borrower does not pay it within [____] days after receiving the notice, Lender may declare the unpaid principal and accrued interest immediately due. Lender may pursue payment through lawful remedies, subject to applicable limitation periods and collection law. A default does not increase the agreed interest rate.
Notices and changes
Notices may be delivered personally or mailed to the addresses above, or to a replacement address given in writing. Changes to this agreement must be written and signed by both parties. Colorado law governs this agreement. This is the parties' entire agreement for this advance.
Lender signature: ______________________________ Date: [__/__/____]
Printed name: [________________________________]
Borrower signature: ______________________________ Date: [__/__/____]
Printed name: [________________________________]
Colorado law reference
Colo. Rev. Stat. § 5-1-301(15)(a) defines a consumer loan, in relevant part, by a lender regularly engaged in making loans; this form is for a one-off private transaction. Sections 5-12-101 and 5-12-103(1) supply the general interest framework; this form chooses a written fixed rate of 0–8% with no added charges, without treating 8% as a legal maximum. Section 13-80-103.5(1)(a) gives six years after accrual to sue to recover a liquidated or determinable debt. Section 5-12-102(4) governs interest on a resulting Colorado judgment; when a written instrument provides a specified rate until the obligation is paid, subsection (4)(a) uses that rate.
About this template
- Last updated
- September 30, 2026
- Citations checked
- October 2, 2026
- Jurisdiction
- Colorado
- Category
- Financial & Banking
Legal authority
- Colo. Rev. Stat. § 5-1-301(15)(a)
- Colo. Rev. Stat. § 5-12-101
- Colo. Rev. Stat. § 5-12-102(4)
- Colo. Rev. Stat. § 5-12-103(1)
- Colo. Rev. Stat. § 13-80-103.5(1)(a)
Financial and banking documents govern loans, security interests, account agreements, and commercial transactions between lenders, borrowers, and financial institutions. Promissory notes, guaranties, security agreements, and UCC filings have precise legal requirements, and mistakes can leave a lender unsecured or a borrower on the hook for more than they agreed to. Well-drafted finance paperwork protects both sides and keeps the deal enforceable if something goes wrong later.
Not legal advice
This template is provided for informational purposes. We recommend having an attorney review any legal document before signing, especially for high-value or complex matters.
Checked against the law it cites
A reviewer verified this template's legal citations against the official source on October 2, 2026.
Colo. Rev. Stat. § 5-1-301(15)(a) (checked October 2, 2026): "except with respect to a "loan primarily secured by an interest in land" as defined in subsection (26) of this section, "consumer loan" means a loan made or arranged by a person regularly engaged in the business of making loans in which:"
Colo. Rev. Stat. § 5-12-101 (checked October 2, 2026): "If there is no agreement or provision of law for a different rate, the interest on money shall be at the rate of eight percent per annum, compounded annually."
Colo. Rev. Stat. § 5-12-102(4)(a) (checked October 2, 2026): "At the rate specified in a contract or instrument in writing which provides for payment of interest at a specified rate until the obligation is paid; except that if the contract or instrument provides for a variable rate, at the rate in effect under the contract or instrument on the date judgment enters;"
Colo. Rev. Stat. § 5-12-103(1) (checked October 2, 2026): "The parties to any bond, bill, promissory note, or other instrument of writing may stipulate therein for the payment of a greater or higher rate of interest than eight percent per annum, but not exceeding forty-five percent per annum, and any such stipulation may be enforced in any court of competent jurisdiction in the state, except as otherwise provided in articles 1 to 6 of this title."
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