A loan signing is a legal document that confirms the borrower's agreement to repay the loan. It is similar to a promissory note. A signature on the record indicates that the borrower agrees to repay the loan. There are two types of loans: secured and unsecured. With a secured loan, you borrow your credit against collateral such as your home or car. With an unsecured loan, you borrow against yourself and your creditworthiness.