There are many options for drafting a loan agreement, the first and most basic is an online downloadable template, with which you can fill in the blanks. It should include all the necessary clauses of a loan agreement. The second way is to hire a lawyer to advise you on the loan arrangement, however this can be expensive, so it may not be for you. The third is to use a system like Credi, which fulfills the basic purpose of a loan agreement template, but can also track negotiations, and be used as a legal document if need be. The downside to a template is that people usually print off hard copies which are known to go ‘missing’, so using Credi’s cloud system with valid and legally enforceable e-signatures is an easy alternative. Further, for loans under $2000, you can avoid any fees at all.