An agreement between lender and borrower, you will need to sign a credit agreement before you receive a loan. The credit agreement will outline the terms and conditions of your contract.
Once a loan has received final approval, the borrower is required to sign a legal agreement in which the borrower promises to meet all the terms and conditions of the loan. Be sure to keep your copy of your Credit Agreement in a safe place until the entire loan has been repaid.
This is a written contract between a bank or other lender and a customer. The bank allows the customer to borrow money under the terms and conditions in the agreement.