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It also enables a number of loans over time to be governed by the one loan agreement.
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The borrower promises to pay back the loan in line with a repayment schedule (regular payments or a lump sum). Such actions include: Repaying the loan by the company's lodgement date for the year in which the loan was made; or; Putting in place a written loan agreement. As a lender, this document is very useful as it legally enforces the borrower to repay the loan.
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