A loan contract may be signed by an agent. If there is no authorized agent, no one else may sign on behalf of the borrower. A contract signed on behalf of others is a legally binding contract for the borrower. When signing a loan contract on behalf of others, a power of attorney shall be issued to the lender to prove the existence of the entrustment relationship. According to the provisions of Article 162 of the Civil Law, a civil juristic act carried out by an agent in the name of the principal within the scope of agency authority is effective for the principal. Article 165 If the power of attorney is in written form, it shall specify the name of the agent, the matters to be represented, the authority and the time limit, and shall be signed or sealed by the principal. Article 162 of the Civil Code: A civil juristic act carried out by an agent in the name of the principal within the scope of agency authority is effective for the principal. Article 165 of the Civil Code, if the power of attorney is in written form, the power of attorney shall specify the name of the agent, matters of agency, authority and time limit, and shall be signed or sealed by the client.