Private Loan Agreement with James Zhang dated April 4, 2013
EX-10.16 12 ex10_16.htm EXHIBIT 10.16
Sunvalley Solar Inc.
398 Lemon Creek Suite A, Walnut. CA 91789
Tel: (909 ###-###-#### Fax: (909 ###-###-####
Date: 4/4/2013
Private Loan Agreement
Due to the rapid business development; the Company needs funds for operation and inventory purchase. The Board of Directors authorize Hangbo Yu (General Manager), on behalf of the Company, to sign a short term loan agreement with James Zhang (shareholder/CEO). The loan amount is $50,000. The start day will be the day that $50,000 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/ Hangbo Yu
Hangbo Yu, General Manager
Sunvalley Solar Inc.
Lender:
/s/ James Zhang
James Zhang