Credit relations appear with the occurrence of commodity production. Even before the money appearing as universal equivalent, when the exchange and the presence of trust between entities appear first credit transactions. The main feature of the loan is breaking in time from the alienation of the object of the transaction to repay liability incurred. For the period of deferment in time value passed in temporary possession of other hands and returns to the creditor within a specified period.
The most common “credit is the ability to receive goods or services in exchange for a promise to pay later or opportunity to receive money against pledge obligation to be paid later. ” To have a credit deal are necessary two members- creditor and borrower. Between their interests must have matched –  the creditor, loaning money and the borrower, requiring additional funds. They must be independent legal entities, and agree on the conditions guaranteeing the loan. Between creditors and borrowers must create economic relations, which have a material basis.

Forms in which occurs the loan are: 

• 1. Commodity credit. It appears as: commercial and consumer.Commercial loan is the first historical form of the loan, which exists to nowadays. It is applied between the participants who maintain direct relationships with each other.Consumer credit is that which shall be provided by banks and merchants to the end users, and to satisfy consumer needs.
• 2. Bank credit. It occurs later than merchandise credit. During the late Middle Ages, when banks appear as intermediaries of a credit relations with, and have a high level of development of money form of value, bank credit becomes the main form of credit relations. Banks became a creditor because they accumulate large cash capital.
• 3. State credit .This type of loan is also provided in monetary form. Subjects in the credit transaction are: the state in the face of Ministry of Finance or the municipalities, which could be both creditors and debtors, legal and physical who may also be creditors or debtors. Major creditor of the state banks are public or private, in this including banks, IMF, World Bank, European Bank for Reconstruction and Development and more.
• 4. Emission credits. This is a loan that shall be provided by the Central Bank through the issue, ie printing and release circulation of money. The issue of money increases the liability balance sheet liabilities of the Central Bank, as well as liabilities of the commercial banks, by way of increased borrowings in them. Through this credit increases credit resources in the economy. CB can lend at the expense of their own funds – primary and backup. Then We have a loan of the capital, which is directed at improving the production structure of the economy.
• 5. Bond credit. Giving bond loans are made through the issuance of bonds of specific instruments in the financial market. Bonds are subject of sale on the secondary market, where owners selling them and receive cash requirements. This makes liquid bonds and demanded as a form of store of value and as a form of credit. The bond loan will be considered more advantageous than bank credit.
• 6. International credit. It shall be provided both, in stock and in cash. Counter parties to credit are the State,banks, businesses and individuals. International credits carry overflow of capital from one national economy to another.

See: moody credit ratings