General loans are lending tools that can be sought out for a variety of reasons. The proceeds from this type of funding are not typically restricted in use either. These loans may be offered as secured or unsecured, depending on the lender, the amount and a person’s credit standing. General loans include signature loans, consolidation loans, home equity lines of credit and equity loans. The lenders that might offer general or basic loans include standard banks, credit unions and private finance companies. Home loans are generally designed to be long-term lending vehicles. In most cases, this type of loan is financed by a bank, lending company or credit union for a period of 30 years. A standard home loan will cover the purchase of the home originally. A second mortgage, equity loan or refinancing may be sought out to fund renovations.