Loans between family & friends

You'd sign a loan agreement with a stranger. Do it for family and friends.

A clear, signed loan agreement built on Canadian law — both of you sign from your phones in about four minutes. Drafting is free. A one-time $29 fee applies only when it's sent for signing — and you choose who pays.

See how it works
≈ 4 minutes· Free to draft· SHA-256 sealed
Loan Agreement
CANADA · ONTARIO
Ready to sign
Amount$5,000 CAD · 0% interest
Repayment$250 monthly · by June 2027
PartiesAlex M. → Jordan T.
Lender
✓ Signed
Borrower
✓ Signed
SHA-256 · SEALEDe3b0c44298fc1c14…
🇨🇦 Built on Canadian law· E-signed from both phonesE-signed· SHA-256 sealed· Not a lender· Not a law firm
52%

of Canadians have lent money to a friend GRANT THORNTON CANADA · 2025

44%

of loans to family are never fully repaid FINANCEBUZZ LENDING STUDY · 2025

1 in 4

say lending to family damaged the relationship FINANCEBUZZ · 2025

01 — The short version

What is LendRight?

LendRight is a Canadian tool for creating, reviewing, and e-signing a family loan agreement — a written record of a personal loan between people who already know each other. You answer a few plain questions, we build a clear, province-aware agreement, and both of you sign it from your phones. Not for borrowing from a bank — for the loans that happen around a kitchen table.

02 — When it goes quiet

Sound familiar?

Nobody signs anything in the moment. Then memories drift — and a kind gesture turns into a quiet standoff.

Jamie
months later
hey, it's been 3 months — all good to settle up?
3 months?? i thought you meant by next year
we never actually said a date, did we
No date = two different dates.
Marcus
a while later
so that was $1,500 i lent you, right?
i'm pretty sure it was $1,000?
neither of us wrote it down
Two memories, two numbers.
Sarah
after the breakup
hey — any update on paying back the $5k?
still there?
Delivered · no reply
Nothing in writing. Now, silence.
A couple reviewing their loan agreement at home
03 — It's care, not distrust

Putting it in writing isn't distrust. It's care — for the money and the relationship.

04 — How it works

Three steps. About four minutes.

STEP 01

Answer plain questions

Who, how much, paid back how. Interest optional — if you charge it, we write it as a clear annual rate — the way the Interest Act requires.

STEP 02

Send one secure link

They read the exact same doc in plain language. Sign, or ask for a change. You see every step live.

STEP 03

Both signed, on the record

Locked PDF plus a certificate of who signed, when, and proof it was never altered.

05 — Try it

See your agreement come together.

Type in the boxes and watch the agreement fill in — live, no signup. This is exactly how the real builder feels.

✓ Annual rate disclosed (Interest Act)
✓ Within the 35% APR cap
✓ Tamper-evident · cryptographically sealed
Fill these in LIVE
DRAFT · LIVE
Loan Agreement
CANADA · DRAFT
Lender → BorrowerYou → their name
Amountthe amount CAD, interest-free
Repaymentmonthly, by the date
About 4 minutes. Drafting is free.
06 — The honest comparison

Three ways to do it. Only one is easy and keeps you both whole.

The old way

A handshake

No record of the amount, the terms, or even that it was a loan. Across Canada, 44% of family loans are never fully repaid.

$0
The expensive way

A lawyer

Searching, booking, lining up two schedules — then still printing it and chasing wet-ink signatures.

$450+
The easy way LENDRIGHT

Four minutes on your phones

A clear agreement built for Canadian law writes itself and you both sign digitally. Nothing to print, nowhere to go.

$29

🧮 Charging interest? Try the free loan calculator →

07 — The quiet traps

Free templates make expensive mistakes.

Most are written for the US. Canadian law has quiet traps they walk straight into — every agreement runs through automated checks for your province — interest disclosure, the 35% ceiling, age of majority — before anyone signs.

Interest Act · federal

The 5% trap

Write "2% per month" without the annual rate and the law can cap you at 5% a year — not the 24% you meant. We auto-insert the correct disclosure.

Criminal Code · s.347

The 35% ceiling

Since 2025, interest above 35% APR is a criminal rate in Canada. We check your rate before the document exists.

Provincial law

The age check

A signer under 18 or 19 (depends on the province) can usually walk away from the contract. Both parties confirm they meet the age of majority before signing.

Bills of Exchange Act

The wrong document

Many free "IOUs" are promissory notes — a format some provincial e-signature laws carve out from e-signing. We prepare a loan agreement instead: a document designed to be signed online.

08 — Pricing

Free to draft. $29 to finalise — and you choose who pays.

A law firm makes you pay hundreds upfront to protect a loan you're generous enough to give. We flip it: draft free, and many lenders ask the borrower to cover the $29 — a small way of showing they take the loan seriously.

🔒 Encrypted·🇨🇦 Canadian law·Yours forever
WHAT YOU'RE HERE FOR

Certified agreement

$29 Free for you — the lender
Drafting costs nothing. The one-time $29 applies only when the agreement is sent for signing — you choose whether you or the other party pays.
✓Guided builder + plain-language preview
✓Province compliance checks
✓Both parties e-sign via secure link
✓Locked PDF + signing certificate, yours forever
09 — Questions

Real questions, honest answers.

Is an online signature actually legal in Canada?

Yes. E-signatures are recognized federally and in every province for ordinary contracts like loan agreements. What makes one hold up is the proof around it — timestamps and evidence the document wasn't altered. That's exactly what the certificate provides.

Will this hold up if they just… don't pay?

An agreement can't force payment — it closes the most common escape hatches. "I thought it was a gift" and "we never agreed on a date" disappear. If it reaches small claims court, a signed agreement with a verified signing record is the strongest evidence you can bring — and most provinces let you file without a lawyer (Ontario up to $50,000; Alberta $100,000).

Isn't asking family to sign something… insulting?

It usually lands the opposite way. A clear agreement says "I take this seriously and I want us to stay good." It reads like a person wrote it, not a law firm. Many borrowers are relieved — now they know exactly what's expected.

Is this legal advice?

No. LendRight is a self-help document tool — you make every decision; the software assembles standardized agreement language and checks it against the Canadian rules we support in-product. For complicated situations, talk to a lawyer. We'll tell you when something looks beyond a simple agreement.

Can I charge interest?

Yes, optionally — and this is where we earn our keep. We write the rate as a clear annual rate (the disclosure the Interest Act requires) and check it against Canada's 35% APR ceiling. Most family loans skip interest, and that's fine too.

Which provinces is this for?

All of Canada's common-law provinces — Ontario, BC, Alberta, Manitoba, Saskatchewan, Nova Scotia, New Brunswick, Newfoundland & Labrador, PEI, and the territories. Quebec has its own civil-law system and French-language requirements, so we're building it properly — coming soon.

📖 Want the full detail? Read our guides to lending money in Canada →

🇨🇦 Built on Canadian law· E-signed from both phonesE-signed· SHA-256 sealed· Not a lender· Not a law firm