24- payment Loan
Loan is for Jenalyn Lorilla
$300 monthly $7200 total (24 month pay-plan)
LOAN AGREEMENT
Date:
This Agreement is between:
Lender: PaulMarley Foundation
Borrower:
1. Loan Amount
Lender agrees to loan:
$5,000 (Five Thousand Dollars)
2. Repayment Terms (Select One)
2-Year Term (24 months)
$300 per month
Total repayment: $7,200
First payment due: May 1, 2026
Payments due on the 6th of each month
3. Early Repayment
Borrower may repay early at any time.
Minimum total repayment = $6,500
(Lender guaranteed minimum $1,500 return)
4. On-Time Payment Incentive
If Borrower makes 24 consecutive on-time payments:
Total return $500 (refunded after last payment)
Full Term:
2-Year term:
Reduced to $6,700 total if all payments on time
On-Time Payment Incentive
Borrower agrees to make 24 monthly payments of $300 each, due on the same date each month.
A payment is considered "on time" if it is received within 5 calendar days of the due date and paid in full.
Borrower is eligible for a $500 incentive refund, which will be returned after the final balance of the loan is paid off on April 2028, subject to the following:
The first payment received more than 5 days after the due date will reduce the incentive by $100
(remaining incentive: $400)The second late payment will reduce the incentive by an additional $100 (remaining incentive: $300)
The third late payment will eliminate the incentive entirely (remaining incentive: $O)
Each monthly payment counts as only one late occurrence, regardless of how many days late it is.
If three or more late payments occur, the Borrower will no longer be eligible for any incentive, and the full repayment amount of $7,200 will be due.
5. Late Payment
Late after 5 days
Fee: $35
6. Default
If Borrower:
• Misses 3 consecutive payments, OR
• Fails communication within 10 days
Full remaining balance becomes immediately due.
7. Personal Responsibility
This loan is a personal obligation, regardless of business performance.
8. Use of Funds
9. Co-Signer / Guarantor
Name:
Address:
Co-Signer is jointly and individually responsible for full repayment.
Lender may collect from Borrower, Co-Signer, or both.
10. Automatic Monthly Payments
Borrower agrees to automatic monthly withdrawal:
• Amount: $300
• Date: 1st day of each month
Borrower must maintain sufficient funds.
Failed payment = late fee & reduced incentive.
11. Governing Law
State of Arizona
12. Signatures
Loan is for Jenalyn Lorilla
$300 monthly $7200 total (24 month pay-plan)
LOAN AGREEMENT
Date:
This Agreement is between:
Lender: PaulMarley Foundation
Borrower:
1. Loan Amount
Lender agrees to loan:
$5,000 (Five Thousand Dollars)
2. Repayment Terms (Select One)
2-Year Term (24 months)
$300 per month
Total repayment: $7,200
First payment due: May 1, 2026
Payments due on the 6th of each month
3. Early Repayment
Borrower may repay early at any time.
Minimum total repayment = $6,500
(Lender guaranteed minimum $1,500 return)
4. On-Time Payment Incentive
If Borrower makes 24 consecutive on-time payments:
Total return $500 (refunded after last payment)
Full Term:
2-Year term:
Reduced to $6,700 total if all payments on time
On-Time Payment Incentive
Borrower agrees to make 24 monthly payments of $300 each, due on the same date each month.
A payment is considered "on time" if it is received within 5 calendar days of the due date and paid in full.
Borrower is eligible for a $500 incentive refund, which will be returned after the final balance of the loan is paid off on April 2028, subject to the following:
The first payment received more than 5 days after the due date will reduce the incentive by $100
(remaining incentive: $400)The second late payment will reduce the incentive by an additional $100 (remaining incentive: $300)
The third late payment will eliminate the incentive entirely (remaining incentive: $O)
Each monthly payment counts as only one late occurrence, regardless of how many days late it is.
If three or more late payments occur, the Borrower will no longer be eligible for any incentive, and the full repayment amount of $7,200 will be due.
5. Late Payment
Late after 5 days
Fee: $35
6. Default
If Borrower:
• Misses 3 consecutive payments, OR
• Fails communication within 10 days
Full remaining balance becomes immediately due.
7. Personal Responsibility
This loan is a personal obligation, regardless of business performance.
8. Use of Funds
9. Co-Signer / Guarantor
Name:
Address:
Co-Signer is jointly and individually responsible for full repayment.
Lender may collect from Borrower, Co-Signer, or both.
10. Automatic Monthly Payments
Borrower agrees to automatic monthly withdrawal:
• Amount: $300
• Date: 1st day of each month
Borrower must maintain sufficient funds.
Failed payment = late fee & reduced incentive.
11. Governing Law
State of Arizona
12. Signatures