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Loan Application Form

Basic Information of Loan Application Form

  • File Type:


  • Size:


  • Formal name:

    Loan Application Form

  • Alias name:

    Loan Application Forms

  • Category:

    Application Form

  • Who are appliable:

    The loan application form is applicable to individuals, businesses and financial institutions.

  • For situations like:

    It works in situations where an individual or organizations want to obtain a loan from a financial institution.

  • Who it goes to:

    It goes to the financial institution or the lender where it is approved.



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Quick guide for Creating and Filling the Template

Step 1

Download and install PDFelement for Windows or Mac

Step 2

Open the Loan Application Form by clicking the "Open" button or directly dragging the file to the PDF editor.

Step 3

Now you can fill the information in the corresponding blank. More detailed tips are as below.

Tips for Filling the Template

Creating a loan application should not be a rocket science. It is simple and easy if you follow these basic steps.

1. Request for the full details of the applicant. It includes the name and address of the loan applicant. The name should include the surname, first name and the middle initials in that order. Also get the social security number, telephone number, date of birth, mobile number and the postcode. It is important to capture the address of the applicant for more than 3 years. For example, if the current address of the applicant is less than 3 years, request for previous addresses.

2. Request for the applicant housing status. Options could be house owner, mortgage, living with family friend, private tenant and others. Also include the household make up. Options are expected to be things like single parents, couples with children, number of dependants, age of dependants among other things.

3. Request for employment / benefit details. Employment status could be self employed, employed, retired, student or unemployed. For example, if applicant is employed, request for the name of the employer, address of the employer, time with the current employer, telephone number of the employer and ask if the applicant can be contacted there.

4. Request for the reason for the loan, the amount the applicant will like to borrow, the amount the borrower can repay and the duration of the repayment.

5. Request for the health status of the applicant. It is important to know the health status of the borrower especially within the last 6 months.

6. Request for the debt status of the applicant. Confirm that the applicant does not have any outstanding loan or bills by requesting a signed statement to that effect. However, if the applicant owes some money, request the list all the creditors. Get all the details of the applicant other loan transactions.

7. Create a declaration statement and request for the signature of the applicant and date.

8. There should be a decision column where the result of the assessment is recorded. Options should include Approved, Declined or Referred.

What is A Loan Application Form
A loan application form is a detailed document which provides a detailed financial and other information about the borrower in which helps the lender to lend. It can come in different forms. For example, it can be a business loan, mortgage loan, personal loan or general purpose loan. A business loan will require a business plan that includes the projected income statement in the period of the loan, the balance sheet and cash flow statement. The applicant must specify the loan amount and clearly state the purpose, means and period of repayment, guaranties or offered collateral. However, for a consumer loan, there is a standard template for the applicant to fill in his or her information. It is important to understand that a loan application does not necessarily mean a pledge by the applicant or a commitment by the lender.
Loan Application Basic Format
There are a lot of formats for loan application forms. However, every loan application template must have some basic features to be considered good for loan transactions. The basic format must include the full names and address of the loan applicant, the social security number, amount of loan requested and the purpose for which the loan is desired. It must also include the breakdown of the collateral offered by the applicant. For business loans, it is important that any format must include the business plan and how the business intend to repay the loan. It should also detail the operations of the business and state clearly the principal owners and managers. Other options in the format should include the list of guarantors and references regarding past credit transactions.
More tips about the Loan Application Form

1. Ensure that there is a supporting document checklist such as the bank statement showing the applicants activity for over 3 months, proof of income like the three most recent wage slips.

2. In the case of business applicants, ensure that there is a completed budget sheet as it is the most important document in assessing applications and making good decision

3. There must be proof of other loan repayments or where applicable, the applicant must provide the letters from creditors.

4. Ensure that every section must be complete before loan application form can be assessed. You can state this boldly at the beginning of the page.

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