Exhibit 10.18



PROMISSORY NOTE

|$475,000,000
June 30, 2003 |  | New York, New York
|-------------------------- |  | ------------------



FOR VALUE RECEIVED, E-LOAN, INC., a Delaware corporation (the
"Borrower"), hereby promises to pay to the order of GREENWICH
CAPITAL FINANCIAL PRODUCTS, INC. (the "Lender"), at the
principal office of the Lender at 600 Steamboat Road, Greenwich, Connecticut
06830, in lawful money of the United States, and in immediately available funds,
the principal sum of FOUR HUNDRED SEVENTY FIVE MILLION DOLLARS ($475,000,000)
(or such lesser amount as shall equal the aggregate unpaid principal amount of
the Advances made by the Lender to the Borrower under the Loan Agreement), on
the dates and in the principal amounts provided in the Loan Agreement, and to
pay interest on the unpaid principal amount of each such Advance, at such
office, in like money and funds, for the period commencing on the date of such
Advance until such Advance shall be paid in full, at the rates per annum and on
the dates provided in the Loan Agreement.

The date, amount and interest rate of each Advance made by
the Lender to the Borrower, and each payment made on account of the principal
thereof, shall be recorded by the Lender on its books and, prior to any transfer
of this Note, endorsed by the Lender on the schedule attached hereto or any
continuation thereof; provided, that the failure of the Lender to make
any such recordation or endorsement shall not affect the obligations of the
Borrower to make a payment when due of any amount owing under the Loan Agreement
or hereunder in respect of the Advances made by the Lender.

This Note is the Note referred to in the Master Loan and
Security Agreement dated as of March 21, 2002 (as amended, supplemented or
otherwise modified and in effect from time to time, the "Loan
Agreement") between the Borrower, and the Lender, and evidences
Advances made by the Lender thereunder.  Terms used but not defined in this Note
have the respective meanings assigned to them in the Loan Agreement.

The Borrower agrees to pay all the Lender's costs of
collection and enforcement (including reasonable attorneys' fees and
disbursements of Lender's counsel) in respect of this Note when incurred,
including, without limitation, reasonable attorneys' fees through appellate
proceedings.

Notwithstanding the pledge of the Collateral, the Borrower
hereby acknowledges, admits and agrees that the Borrower's obligations under
this Note are recourse obligations of the Borrower to which the Borrower pledges
its full faith and credit.

The Borrower, and any indorsers or guarantors hereof, (a)
severally waive diligence, presentment, protest and demand and also notice of
protest, demand, dishonor and nonpayments of this Note, (b) expressly agree that
this Note, or any payment hereunder, may be extended from time to time, and
consent to the acceptance of further Collateral, the release of any Collateral
for this Note, the release of any party primarily or secondarily liable hereon,
and (c) expressly agree that it will not be necessary for the Lender, in order
to enforce payment of this Note, to first institute or exhaust the Lender's
remedies against the Borrower or any other party liable hereon or against any
Collateral for this Note.  No extension of time for the payment of this Note, or
any installment hereof, made by agreement by the Lender with any person now or
hereafter liable for the payment of this Note, shall affect the liability under
this Note of the Borrower, even if the Borrower is not a party to such
agreement; provided, however, that the Lender and the Borrower, by
written agreement between them, may affect the liability of the Borrower.

Any reference herein to the Lender shall be deemed to include
and apply to every subsequent holder of this Note.  Reference is made to the
Loan Agreement for provisions concerning optional and mandatory prepayments,
Collateral, acceleration and other material terms affecting this Note.

Any enforcement action relating to this Note may be brought
by motion for summary judgment in lieu of a complaint pursuant to Section 3213
of the New York Civil Practice Law and Rules.  The Borrower hereby submits to
New York jurisdiction with respect to any action brought with respect to this
Note and waives any right with respect to the doctrine of forum non conveniens
with respect to such transactions.

This Note shall be governed by and construed under the
laws of the State of New York (without reference to choice of law doctrine but
with reference to Section 5-1401 of the New York General Obligations Law, which
by its terms applies to this Note) whose laws the Borrower expressly elects to
apply to this Note.  The Borrower agrees that any action or proceeding brought
to enforce or arising out of this Note may be commenced in the Supreme Court of
the State of New York, Borough of Manhattan, or in the District Court of the
United States for the Southern District of New York.



E-LOAN, INC.



By: /s/

Name:   Matt Roberts

Title:   CFO



SCHEDULE OF LOANS



This Note evidences Advances made under the within-described
Loan Agreement to the Borrower, on the dates, in the principal amounts and
bearing interest at the rates set forth below, and subject to the payments and
prepayments of principal set forth below:



|Date Made | Principal Amount of Loan | Amount Paidor Prepaid | Unpaid PrincipalAmount | NotationMade by
|--------- | ------------------------ | --------------------- | ---------------------- | ---------------
|          |                          |                       |                        |                
|          |                          |                       |                        |                
|          |                          |                       |                        |                
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