Choose this option if the borrower is offering some assets to secure the loan (sometimes called "collateral").

A set up fee is meant to cover some of the costs of setting up the loan.

An advance simply means the amount the borrower draws on the revolving loan. The lender may want some conditions for each advance. For example, a minimum advance amount, a certain amount of notice, or some other specific condition. 

Choose this option if the company is offering some assets to secure the loan (sometimes called "collateral").

A set up fee is meant to cover some of the costs of setting up the loan.

A standby fee is a rate charged to the borrower for any unused portion of the loan. For example, the lender could charge a 2% rate on the part of the loan that the borrower hasn't drawn on yet.

If a borrower doesn't use the whole amount of the loan, the lender doesn't earn interest on the unused portion. But, the lender still has a commitment to the borrower to make the unused amount available if the borrower decides to use it.

Since the lender could have loaned the money to someone else that would have used the funds, which means the lender would have earned interest, sometimes lenders charge a standby fee on unused amounts of a loan to make up for not earning as much interest. 

The shareholder making the loan may want to be paid back first before large payments are made to other lenders or creditors. But the business still needs to make its payments to others, especially to service providers, suppliers, and others involved in the business.

So you can say that while there is a balance owing on the shareholder loan, payments to others above a certain amount will require the shareholder's approval before they can be made.

When a company merges with another business, there can be a change in decision making power. That can make shareholder lenders nervous. So, sometimes there is a restriction that says the business cannot merge with another unless the shareholder loan is paid off first.

When shareholders are owed money for a loan they made to the company, sometimes they want to be paid back first before the company makes investments in other businesses.

This is only an option, though. Sometimes a shareholder loan is even made to fund an investment in another company. Whether you want this restriction will depend on what the loan money is meant for and what the company's business plans are.

Since the company's assets are how a business makes money, shareholder lenders sometimes want a rule that says the company cannot sell its assets while there is a balance owing on the loan.