A loan agreement is a legal document that outlines the terms and conditions under which a lender agrees to provide a borrower with a sum of money, usually repayable over time. The agreement specifies the amount of the loan, the interest rate (if any), the repayment schedule, and any other obligations or restrictions that apply to both parties. It is an important document that helps protect both the lender's interests by setting out clear expectations for the borrower, as well as providing a framework for managing the loan relationship over time.