Each month, there is usually an additional delay – a number of days after the due date on which the loan can be paid without penalty. If payment is not made within the additional period, the agreement sets penalties. A commercial loan agreement is a form of enterprise contract that contains all the necessary parts so that it can be brought to justice if necessary. Take the time to read it carefully to make sure you fully understand your legal obligations. There are several times during the life of a business when they can look for a business loan. A commercial loan, also known as a commercial loan, is any type of loan intended for commercial purposes. The document describing the details of this loan is called a business loan agreement. Debt or mortgage: the loan agreement may contain a debt instrument or a mortgage. .