Loan Request Form | Free Manual Templates

A loan request form is basically used to request a loan for any specific purpose within a specific period of time. A loan request is a process of attaining a lump sum amount in order to fulfill their needs for a specific period of time and also promise to repay it in future with or without interest. The purpose of loan request can be different, either it may be used for business establishment or continuing study for a specific period of time. It includes information about the purpose of requesting loan, period for return loan, legal status, job details, and income sources of an individual.

Importance of Using a Loan Request Form

You can take different kinds of loans either for short term or long term periods; for example, personal loan, mortgage loan, consolidation loan, small business loan, joint venture loan, and auto loan. Many new companies try to borrow too much loan than they need because they have no plan to use it. This will be a problem for them at the time of loan payment. Thus, it is very important for borrower, before borrowing money from institution, makes a complete plan out for usage of that loan.