Loan Application Form

It's no secret that the lending industry is competitive and risky. In order to stay ahead of the competition, lenders need to make sure they are assessing borrowers in the most efficient way possible. Using an online loan application form is a really good start. By using this free loan application form template, you can create your own form, and gather loan applications easily.

Loan Application Form

USE TEMPLATE

What is a loan application form?

A loan application form is a document that potential borrowers must fill out in order to apply for a loan from a financial institution. The form typically requests information about the borrower's income, assets, and debts. Lenders use this information to determine whether or not to extend a loan to the borrower and at what interest rate.

The advantages of using an online loan application form

By using an online loan application form, lenders can quickly and easily gather all the information they need from a borrower in one place. Not only does this make the process more efficient, but it also makes it more convenient for the borrower. Here are some of the benefits of using an online application form over a paper document:

  • An online loan application form can be customized to fit your specific needs, any time you want.
  • An online loan application form is convenient for borrowers as they can access it anywhere with an internet connection.
  • An online loan application form can help you gather all the information you need from a borrower in one place. This will help you keep track of applications and find details with a few clicks.
  • By using conditional logic, you can get all the details in an efficient way while providing a seamless experience. This will help you ask only relevant questions to your borrowers. For example, you can request them to name their immovable properties only if they answer “yes” to the question “do you have any immovable properties?”.
  • You can assign points to the answer and see the score of your borrowers. This will help you assess the applicants more accurately and easily. You can enable and use this while you are on the “Calculator” tab.

How do I create a loan application form online?

As a powerful and stylish form creator, forms.app offers you all the features to create your own loan application form. As a cherry on top, this free loan application form template will provide you with a basic structure to follow and can be customized to fit your specific needs. For example, you can use this form for lending out a home loan, personal loan, car loan, mortgage loan, or have your applicants select a loan type. To create your custom loan application form for your organization, all you have to do is simply follow the steps below:

  1. Open and import this online loan application form template
  2. Customize the form based on your preferences
  3. Make sure it looks professional and includes all the questions you need
  4. Preview and test your application form to see if everything is okay
  5. Share your form with your audience by posting it on social media or embedding it on your website

Which information should you ask for from your applicants?

When creating your online loan application form, be sure to include all of the necessary information that you will need as a lender. This includes basic personal information, contact information, financial information, and any other pertinent details. Here is the list of details you may want to collect before providing funds:

  • Basic personal information (i.e. name, address, etc.)
  • Contact information (phone number, email address, etc.)
  • Financial information (credit score, debts, assets, etc.)
  • Borrowing purpose (i.e. what the loan will be used for)
  • Employment information (employer, job title, salary, etc.)
  • Co-borrower/guarantor information (if applicable)
  • And most importantly, the loan amount

By collecting this information up front, you can streamline the assessment process and avoid any surprises down the road. Once you have all of the information you need, be sure to review it carefully. This will help you ensure that everything is accurate and up-to-date. After you have reviewed the information, you can then make a decision on whether or not to approve the loan.

Accepting online applications is a norm for nearly all businesses, today. Whether it is job applications, internships, or scholarship applications, using online applications can save you time and great effort. But how do you accept online applications, what is the best way? The answer is online forms. By using an online form builder, like forms.app here, you can easily create an application or submission form for gathering applicant information. 

An application form is a general name for a document used to collect information from your applicants to evaluate them. A typical application form can include questions regarding work experience, education, contact information, military service, background check, phone number, and other relevant details for the open position. Then, this online form for accepting applications can be shared with the target audience or embedded on the organization’s website. 

forms.app is an intuitive form creator that can help you create your own application forms. You can use many form fields to ask your questions or use conditional logic to make your forms complex and user-friendly at the same time. Data collection is much easier with forms.app. Here are the simple steps you should follow to build your online application form:

  1. Select a free form template to create your form faster
  2. Add choice questions or text fields to ask your questions, or edit the existing questions
  3. Add your organization logo to a visible part of your form
  4. Enable Welcome-Page to welcome the potential applicants and explain what they have to do to apply
  5. Head over to the design tab and change how your application form looks
  6. Share your online application form or embed it on your website

Whether you are creating a job application form or a membership registration form, forms.app offers you premium-quality templates for free. These application form templates come with common questions or form fields you would probably like to include in your form. Naturally, this will save you time and help you create better forms and surveys in a shorter time. So, choose one of our free form samples to create professional online forms today.

Free Package Includes All Features

There are a lot of powerful and useful features on forms.app such as payment collection, product basket, and geolocation restriction. These features are all included in the free plan.

SEE ALL FEATURES

Get Familiar With Outstanding Features

Take a closer look at forms.app’s some of the most excellent features, see how they work and start using right away.

DISCOVER FEATURES