Need to draft a Loan agreement for a Startup Biotech Company

Posted by - Shakeel Ahmed at Feb 23, 2021
Bihar, India

BudgetTypeStatusValid Through
$197.01FIXEDOpenFeb 23, 2022

Job Description

Need help with a loan agreement from a private party.

We are a small biotech startup seeking seed funding to start business.

We have secured a loan offering from a family member - but need to have a contract in place.

The terms are:
loan amount - 150,000
5% interest per year for 5 years - interest to be paid at year 3 and 5
2% of the profit per year (accrued and payed at year 5)
5% equity ONLY IF the loan cannot be repayed in full in 5 years
a clause that guarantees the loan will be paid first if the company is sold

Hopefully not too complex or difficult!

Thanks in advance for your offer!

Skills & Expertise Required

Financial Writing Legal Entity Structuring Legal Research Legal Writing 

Offer to work on this project closes in 359 days!

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