A loader 10 includes a loader boom having opposite sides defined by arms to each of which is pivotally mounted a portion of a parking stand assembly including a support leg and a strut with the pivot axis for the leg being spaced between the implement at the end of the boom and the pivot axis for the strut. The support leg includes a pair of sides connected together by a web so as to be generally H-shaped in cross section over a major portion of its length. The web contains an opening through which the strut extends with the strut being in the channel defined below the support leg web and both the support leg and strut extending along the underside of the loader arm when the parking stand is in its stored position. The channel defined above the web receives the lower portion of the loader arm. A releasable fastener couples the strut to the arm, the strut in turn holding the support leg in place. When the fastener is released, the strut and arm gravitate toward a park position which is effected when a receptacle adjacent the end of the strut comes into engagement with a cross pin mounted to the support leg at a location close to the opening. The strut carries a hook which faces the receptacle and functions to prevent the strut from becoming withdrawn from the opening in the support leg web and thus separating from the leg.