Yes. Only if the lender cannot repay the loan on time will the guarantor be responsible for the repayment. As long as you meet the loan conditions and have a good credit record, you can apply for a personal loan and the loan will be disbursed on time. Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must be returned. Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts.