A loan in Spain is an agreement that regulates the lending of an object or an amount of money with or without interest for the provider. There are two types of loan contracts, the first concerns the loan of a building without pay and the second refers to money without interest loans.
To formalise a loan agreement, you must use a loan agreement template or get a lawyer to write one where you should specify the nature of the loan, the date of rendering the paid sum of money and all the necessary details concerning the two parties.
A signature from both parties in a contract in Spain is compulsory since it certifies the compliance of the agreement. It is also advisable to register the loan with the Spanish treasury to the delegation of your province to formalise it. It can also be made public if before a notary but this method is more expensive and not actually that common.
The owner of a building can put his property at the disposal of another person to allow them to use it for a defined purpose, provided they return it after this use. Insofar as this loan is free and is a service, we speak of it as a loan contract for use. This loan is basically free in Spain, it is determined as a "friendly" loan that does not involve compensation. The lender retains ownership of the object in question. The receiver meanwhile benefits from its use but the goods are not their own.
Mutual loans are a financial loan agreement which is usually paid through interest with a specific deadline. If mutual agreements are secured by a mortgage law, it will be named a mortgage. This sort of loan in Spain is a credit line associated with current accounts. Through these, the bank offers clients a sum of money which does not affect their interest if the money is not touched. Interest fees only apply when the money is used. This type of loan is usually issued by banks but also by credit agencies, most commonly the smaller loans are easier to get, they are limited in quantity and their interest rates are multiplied by three compared to the average on the market. Since the explosion of the Spanish financial bubble, its pretty difficult to get credit in Spain and the rates are twice as high as those in France, for example. The government sent a message to the banks a little while ago saying that it is important that they revive lending to businesses and individuals alike. The question is whether the situation will change in the future.