Loan agreement letter

Sample Loan agreement letter

This is an agreement between the Bank of Florida, 1185 Immokalee Road,
Naples, FL 34110 and American Electric Technologies Inc., 6410 Long Drive, Florida.

Whereas, the AETI has requested a loan from Bank of Florida for emergency financial help and in accordance with certain terms and conditions;

Whereas, the Bank is willing to loan money to AETI in accordance with some terms and conditions;

Now, therefore, it is hereby agreed that:

1. On the date in which this agreement is signed by Bank, the Bank will loan AETI an amount of $2500.
2. Interest will be calculated on loan amount only after one year from date of this agreement.
3. The maximum term of loan is five years.
4. If AETI failed in repaying the loan, then it is agreed that the Bank may charge collection costs against AETI.

Dated: 22/06/2007

For Conestoga Bank:                                                                     For AETI:

Michel Brown                                                                        Steffi Garry

(Manager)                                                                             (Managing Partner)

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