Loan Buddy is an online application to assist friends and famlies in creating and documenting loans. These related-party loans typically include simple terms and repayment schedules.

Loan Buddy will include these features at no cost:

• Promissory note

• Repayment (amortization schedule)

• Recording of payments and current balance

Loan Buddy will include these features as paid extras:

• automatic application of payments based on banking activity

• Generation of 1099s for tax purposes

• Consultation with an attorney for more complex real-estate transactions