Document background
The Simple Loan Note is a fundamental legal document used in Irish finance transactions to formalize lending arrangements between parties. This document type is particularly suitable for straightforward lending scenarios where one party (the lender) provides financial accommodation to another (the borrower) on documented terms. The Simple Loan Note includes essential provisions required under Irish law regarding interest calculations, repayment obligations, and enforcement mechanisms. It's commonly used for both corporate and private lending, though the terms may vary depending on the nature of the parties involved. The document can be adapted to include security arrangements and guarantees if required, while maintaining compliance with Irish financial services legislation and regulatory requirements. This type of agreement is simpler than a full facility agreement but still provides adequate protection for the parties involved.
