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The tutorial explains how to create a personal loan agreement using a fillable form on a webpage, specifically in DocHub PDF format. The process involves entering the effective date of the agreement, which is set as May 24, and identifying the borrower, Johnny Appleseed, with an address at 123 Apple Way, Appleville, Texas. Nancy Appleseed is mentioned as the lender, residing at the same address. The agreement stipulates that the borrower will repay a loan of $10,000 within a year. The tutorial emphasizes the simplicity of the fillable form, encouraging users to click on the blanks to fill in necessary details like loan amount and repayment terms.