Upload

Whether you are looking for new financial opportunities for your business or thinking about personal loans and credit, our guide will let you discover more about these financial instruments. See our library of templates below to start the loan process.

How Do Loans Work?

Before you negotiate and sign any loan agreements, you need to learn the basics about loans and credit and find out how you can borrow money at the lowest cost:

  • The loan usually refers to a sum of money borrowed from a financial institution or an individual with the obligation to pay it back, generally with interest and fees;
  • You pay the loan over time – several months or even years;
  • Potential lenders will require a lot of documents from you before your loan application is approved – they will examine your credit history, financial situation, employment history, and other factors before agreeing to a loan;
  • Interest rates are fixed or variable – they depend on your credit rating, amount of money borrowed, and the term of the loan. 

The loan process includes four general steps:

  1. Applying for a loan. Contact a bank or individual that provides loans and notify them about your intention to take out a loan.
  2. Qualifying for a loan. Once the lender receives your application and supplemental documents, they will determine your eligibility for a loan.
  3. Receiving the loan funds in case of approval. Within weeks a loan will be sent to the account you indicate for a lender.
  4. Paying the loan balance. Your agreement with a lender will list the full loan amount and the due dates of installment payments that include interest.

Related Tags and Topics:

Documents

73

"Bail Bond Form"

Rate (4.6 / 5) 15 votes
Size: 62 KB
2 pages

A defendant may use this legal document to stay away from jail until their court date comes, provided that the court has received a financial guarantee that obliges the person to appear in person when the trial takes place.

+ show tags - hide tags
Bond Form Business

"Surety Bond Form"

Rate (4.3 / 5) 8 votes
Size: 73 KB
2 pages

This bond obligates the principal to perform some kind of work for the obligee, and the third party promises to compensate the obligee if the principal fails to comply with their responsibilities.

+ show tags - hide tags
Bond Form Business

"Bid Bond Form"

Rate (4.4 / 5) 35 votes
Size: 63 KB
1 page

This is a financial agreement that guarantees that a contractor selected for a specific job will fulfill all of the obligations listed in the text of the bid.

+ show tags - hide tags
Bond Form Business

"Performance Bond Form"

Rate (4.5 / 5) 8 votes
Size: 86 KB
4 pages

This form confirms the surety's obligation to make a payment towards the owner of a construction project in case their contractor failed to comply with their responsibilities.

+ show tags - hide tags
Bond Form Business

"Payment Bond Form"

Rate (4.6 / 5) 35 votes
Size: 72 KB
2 pages

You may use this document to protect the interests of subcontractors and suppliers that are working on a specific project.

+ show tags - hide tags
Bond Form Business

"Employee Loan Agreement Template"

Rate (4.3 / 5) 8 votes
Size: 65 KB
1 page

This contract contains the consent of an employer to provide a loan to an employee, which will be further deducted from the employee's payroll.

"Loan Agreement Template"

Rate (4.3 / 5) 27 votes
Size: 82 KB
2 pages

This is a contract used to document and formalize all obligations that regulate receiving the loan and paying it back.

+ show tags - hide tags
Loan Agreement Templates Business

"Shareholder Loan Agreement Template"

Rate (4.6 / 5) 30 votes
Size: 80 KB
2 pages

This type of agreement is used when a corporation borrows money from a shareholder in order to explain the details of the loan and to serve as evidence of the debt.

"Secured Promissory Note Template"

Rate (4.8 / 5) 12 votes
Size: 88 KB
3 pages

Individuals may use this template when they would like to secure a financial obligation to legally bind a borrower to pay their loan back to a lender.

+ show tags - hide tags
Promissory Note Template Business

"Unsecured Promissory Note Template"

Rate (4.3 / 5) 13 votes
Size: 86 KB
3 pages

This template establishes the basic terms of the agreement between a lender and a borrower regarding the money the former has provided the latter with.

+ show tags - hide tags
Promissory Note Template Business

"Financial Statement Template"

Rate (4.7 / 5) 6 votes
Size: 107 KB
2 pages

This is a written record that conveys the activities and the financial performance of your business or company.

+ show tags - hide tags
Budgeting Business

"Loan Amortization Schedule Template"

Rate (4.6 / 5) 9 votes
Size: 87 KB
4 pages

An individual can use this spreadsheet to outline payments for a loan, to calculate the money that goes towards the lender and to the interest until the borrower has paid off the entire amount of a loan.

+ show tags - hide tags
Business

"Security Agreement Template"

Rate (4.7 / 5) 15 votes
Size: 138 KB
8 pages

This is a formal document signed by a lender and a borrower in which the borrower provides their property or interest in an asset as collateral for a loan.

+ show tags - hide tags
Business

"Subordination Agreement Template"

Rate (4.4 / 5) 5 votes
Size: 73 KB
3 pages

This is a formal document signed by a lender and a debtor by means of which the parties confirm the existing debt owed by the borrower has a preference before other debts of the borrower.

+ show tags - hide tags
Business

"Credit Application Form"

Rate (4.6 / 5) 19 votes
Size: 63 KB
2 pages

This document serves as a way for financial institutions to assess the creditworthiness of a potential individual or corporate customer.

+ show tags - hide tags
Business

"Revolving Credit Agreement Template"

Rate (4.3 / 5) 21 votes
Size: 80 KB
2 pages

According to a Revolving Credit Agreement, a seller allows a buyer to make purchases under this account on the terms and conditions established in the agreement.

+ show tags - hide tags
Business

"Credit Card Authorization Form"

Rate (4.4 / 5) 30 votes
Size: 65 KB
2 pages

The purpose of this document is to give permission to a seller to request payment once or on a regular basis when a credit card is not present.

+ show tags - hide tags
Consent Form Business

"Iou Template"

Rate (4.2 / 5) 12 votes
Size: 58 KB
1 page

An IOU is a typed or handwritten document that outlines the details about the debt owed by one party (borrower, or debtor) to another (creditor, or lender).

+ show tags - hide tags
Business

"Personal Guarantee Template"

Rate (4.5 / 5) 22 votes
Size: 81 KB
3 pages

This form expresses a written promise by a guarantor to take responsibility for a debtor if they fail to pay their debt to a lender.

+ show tags - hide tags
Business

"Corporate Guarantee Template"

Rate (4.7 / 5) 21 votes
Size: 81 KB
3 pages

You may use this legal agreement when an entity is facing bankruptcy between a borrower, lender, and guarantor, where a corporation (usually an insurance company) takes on the responsibility of ensuring a borrower repays their debt.

+ show tags - hide tags
Business

"Equipment Loan Template"

Rate (4.7 / 5) 13 votes
Size: 83 KB
3 pages

An individual or organization may use this type of template to loan out specific equipment to colleagues in various departments.

+ show tags - hide tags
Loan Agreement Templates Business

"Family Loan Agreement Template"

Rate (4.8 / 5) 18 votes
Size: 84 KB
3 pages

This type of template is used by individuals that are related by marriage or blood and want to record the amount of money one of the relatives gives to the other and the terms of repayment.

+ show tags - hide tags
Loan Agreement Templates Business

"Mortgage Loan Agreement Template"

Rate (4.3 / 5) 9 votes
Size: 76 KB
3 pages

Upon signing this type of template, this legal instrument gives the latter access to the lender's money creating a lien on the real estate.

+ show tags - hide tags
Loan Agreement Templates Business

"Promissory Note Template" - Alabama

Rate (4.4 / 5) 30 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Alaska

Rate (4.6 / 5) 7 votes
Size: 94 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Arizona

Rate (4.6 / 5) 11 votes
Size: 94 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Arkansas

Rate (4.7 / 5) 6 votes
Size: 94 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - California

Rate (4.8 / 5) 18 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Colorado

Rate (4.3 / 5) 13 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Connecticut

Rate (4.4 / 5) 17 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Delaware

Rate (4.5 / 5) 32 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Florida

Rate (4.6 / 5) 18 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Georgia (United States)

Rate (4.8 / 5) 8 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Hawaii

Rate (4.8 / 5) 20 votes
Size: 94 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Idaho

Rate (4.3 / 5) 16 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Illinois

Rate (4.4 / 5) 9 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Indiana

Rate (4.5 / 5) 18 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Iowa

Rate (4.6 / 5) 22 votes
Size: 93 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Kansas

Rate (4.7 / 5) 32 votes
Size: 94 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business

"Promissory Note Template" - Kentucky

Rate (4.8 / 5) 34 votes
Size: 94 KB
5 pages
+ show tags - hide tags
Promissory Note Template Business