5+ Loan Invoice Templates in PDF

Step 1: The Need

When a person goes to apply for a loan, the person generally requires to state his or her reasons for applying for the loan. It is the responsibility of the loan agency or the bank to check and validate the reasons that the borrower provides. Ask questions to the borrower to know why the person wants the loan. Based on the reasons that the individual provides, determine the type of loan to sanction. Only proceed if the reasons provided are valid and legal.

Step 2: The Eligibility

A borrower just cannot get a loan as soon as he or she applies for it. To register for the credit, the person needs to be qualified. Different institutions have different eligibility criteria in place for loans. A person is granted the loan amount only if the individual checks out that criteria. The general criteria that almost loan agencies have in place include the age, the income, and the profession of the person, and the maximum loan limit.

Step 3: The Loan and Monthly Payments

Once the person is approved and fits the criteria, you can start discussing the details of the loan. The first thing to discuss is the loan amount. Ask the person how much credit the person would need and check to see if that particular loan amount can be provided or not. Try negotiating if that amount cannot be provided. Once the loan amount has been decided upon, you need to determine the monthly payments. The monthly installments refer to the amount that the person will pay each month for the loan.

Step 4: Develop the Layout

All kinds of business transactions use invoices. And the invoice of those businesses differs from one another in a lot of aspects. For the loan invoice of your agency, the initial thing to do is to develop the layout of the invoice. For this, you need to consider your agency’s protocols and see if they provide a ready-made layout or not. If not, you can use any kind of software such as Word, Excel, etc., to make the invoice. Determine then how you want to input the different elements and details.

Step 5: Determine the Elements

After determining the layout of the invoice, you need to decide the elements that you are going to use for the same. These include the font, the color scheme, etc. Most private banks use their signature colors and fonts for their loan invoice. If you want, you can opt to not consider the design elements altogether and make a plain, black and white invoice. Whatever you decide, just remember not to overdo it.

Step 6: Add the Required Details

A general invoice for any sort of transaction includes the transaction details, the credit details, the details of the two parties involved in the transaction, and other relevant ones. For your loan invoice, first check the company protocols, if there are any. After that, proceed to decide what to input in the invoice. There are some general items that you can include in the loan invoice. Start with the details of your company including the name, the address and the contact information. This can be followed by the details of the loan amount, the monthly payments, deductions, and additions if any, and the details of the borrower. You can add other details too if you want, provided they are relevant to the invoice.

Step 7: Review and Print

Once you have all the details assembled in one place, you need to compile them to form the invoice. Check this draft for errors and mistakes. Make sure there are grammatical errors and that there is not missing information either. If you are satisfied with the draft, you can proceed to print it. This is the final step. After printing, the invoice will be ready to provide to the borrower.