Private Loan Agreement between Sunvalley Solar Inc. and Hangbo Yu dated January 24, 2013
Sunvalley Solar Inc. has entered into a short-term loan agreement with Hangbo Yu, a shareholder and general manager, for $90,000 to support business operations and inventory purchases. The loan carries an annual interest rate of 6.5% and must be repaid within one year from the date the funds are transferred to the company's account. The agreement is signed by James Zhang, CEO of Sunvalley Solar Inc., and Hangbo Yu as the lender.
Sunvalley Solar Inc.
398 Lemon Creek Suite A, Walnut, CA 91789
Tel: (909 ###-###-#### Fax: (909 ###-###-####
Date: 01/24/2013
Private Loan Agreement
Due to the rapid business development, the Company needs funds for operation and inventory purchase. The Board of Directors authorize James Zhang (CEO/Chairman) on behalf of the Company, to sign a short term loan agreement with Hangbo Yu (Shareholder/General Manager). The loan amount is $90,000. The start day will be the day that $90,000 is transferred to the Company's account. The annual interest for this short-term loan is $6.50% and the term of this loan should be less than a year.
Borrower:
/s/ James Zhang
James Zhang
CEO
Sunvalley Solar Inc.
Lender:
/s/ Hangbo Yu
Hangbo Yu
