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Default Using VLookUpFnctnin Excell Sprdsheet

I have 2 sprdsheets & I know where to find VLookUp Fnctn, but I'm not sure
what to enter in every line;
I need to 'Bump Up'-match the loan #s on my existing Excel Sprdsheet via
using data from 2nd spreadsheet (column 1 (loan#s) & column 2(status of this
loan#s). So new loan #s with their status will appear separately & the loan
#s that match will show their new updated status.
Thank you in advance.
 
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