Second-stage boot loaders, such as GNU GRUB, rEFInd, BOOTMGR, Syslinux, NTLDR or iBoot, are not themselves operating systems, but are able to load an operating system properly and transfer execution to it; the operating system subsequently initializes itself and may load extra device drivers. The second-stage boot loader does not need drivers for its own operation, but may instead use generic storage access methods provided by system firmware such as the BIOS or Open Firmware, though typically with restricted hardware functionality and lower performance.

Many boot loaders can be configured to give the user multiple booting choices. These choices can include different operating systems (for dual or multi-booting from different partitions or drives), different versions of the same operating system (in case a new version has unexpected problems), different operating system loading options (e.g., booting into a rescue or safe mode), and some standalone programs that can function without an operating system, such as memory testers (e.g., memtest86+), a basic shell (as in GNU GRUB), or even games (see List of PC Booter games).Some boot loaders can also load other boot loaders; for example, GRUB loads BOOTMGR instead of loading Windows directly. Usually, a default choice is preselected with a time delay during which a user can press a key to change the choice; after this delay, the default choice is automatically run so normal booting can occur without interaction.

The boot process can be considered complete when the computer is ready to interact with the user, or the operating system is capable of running system programs or application programs.

Many embedded systems must boot immediately. For example, waiting a minute for a digital television or a GPS navigation device to start is generally unacceptable. Therefore, such devices have software systems in ROM or flash memory so the device can begin functioning immediately; little or no loading is necessary, because the loading can be precomputed and stored on the ROM when the device is made.

Large and complex systems may have boot procedures that proceed in multiple phases until finally the operating system and other programs are loaded and ready to execute. Because operating systems are designed as if they never start or stop, a boot loader might load the operating system, configure itself as a mere process within that system, and then irrevocably transfer control to the operating system. The boot loader then terminates normally as any other process would.
Linux Second-stage boot loader
A two-stage bootloader actually consists of two bootloaders after each other. The first being small with the sole purpose of loading the second one. The second one can then contain all the code needed for loading the kernel. GRUB uses two (or arguably, three) stages.