Search online and you will find plenty of ways to put a family loan in writing. Templates, wills kits, even a lawyer if you want to pay for one. Getting the agreement down on paper has never been the hard part.

The harder part is everything that comes after signing it.

Two halves of the same equation

Family lending really comes down to two separate jobs. The first is documenting the loan itself: what is the loan term, what are you charging, what is the interest rate, and how do the principal and interest repayments actually work out. The second job is doing something with those numbers every single fortnight or month for however long the loan runs.

Most tools, and most good intentions, stop at the first half. You work out the numbers once, maybe in a spreadsheet, and then it becomes someone's job to remember to make the payment, someone's job to check it arrived, and everyone's job to have an awkward conversation if it does not.

That second half is where family loans quietly go wrong. Not because anyone meant to let a repayment slip, but because manual processes rely on everyone remembering, every time, for years.

Working it out and setting it up in minutes

This is exactly the gap Amico Repay was built to close. Instead of documenting the loan in one place and then manually calculating and chasing repayments in another, Amico brings both halves together in one setup.

You agree on the loan term, the interest rate if there is one, and the repayment frequency. Amico calculates the principal and interest repayments automatically, so nobody is second guessing whether the numbers are right. Once that is set, the whole thing is ‘set and forget’.

Set and forget, genuinely

The phrase gets used a lot in fintech, but for family lending it means something specific: once the terms are agreed and connected through open banking, the repayments simply happen. No manual transfers, no calendar reminders, no one having to bring it up over dinner.

That matters because the awkwardness in family lending rarely comes from the original conversation about lending the money. It comes from the ongoing coordination, the "did that payment go through" texts, the mental load of being the one who has to track it. Removing that coordination is what actually protects the relationship over the life of the loan.

How Amico helps

Amico Document handles the first half, creating a legally binding, compliant agreement with the terms you have agreed. Amico Repay handles the second half, automatically calculating and transferring repayments via open banking on the schedule you set.

Together, they turn a loan between family or friends from an ongoing administrative task into something you set up once and genuinely forget about, right up until it is paid off.