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Loan Application Form
Loan Application Forms
Application Form
The loan application form is applicable to individuals, businesses and financial institutions.
It works in situations where an individual or organizations want to obtain a loan from a financial institution.
It goes to the financial institution or the lender where it is approved.
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If you don't have a PDF form filler, please download PDFelement first.
If you already have a PDF form filler, please just download the template.
Download Template
Step 1Download and install PDFelement for Windows or Mac |
Step 2Open the Loan Application Form by clicking the "Open" button or directly dragging the file to the PDF editor. |
Step 3Now you can fill the information in the corresponding blank. More detailed tips are as below. |
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.
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.