Private lending is a kind of private financial activity with a long history and widespread in the world. Most of them represent contracts in the form of "IOUs", which is generally acceptable. However, because the IOU is too simple, it is difficult to handle disputes on this basis. Therefore, it is better for both lenders and borrowers to sign a formal loan contract to determine the rights and obligations of the parties in detail, so as to avoid future troubles. Of course, if there is no written receipt of loan or contract between the parties, but both parties acknowledge the loan, it can be confirmed that the loan relationship exists between both parties.