Definition of Loan:
Lend (a sum of money or item of property).
Written or oral agreement for a temporary transfer of a property (usually cash) from its owner (the lender) to a borrower who promises to return it according to the terms of the agreement, usually with interest for its use. If the loan is repayable on the demand of the lender, it is called a demand loan. If repayable in equal monthly payments, it is an installment loan. If repayable in lump sum on the loans maturity (expiration) date, it is a time loan. Banks further classify their loans into other categories such as consumer, commercial, and industrial loans, construction and mortgage loans, and secured and unsecured loans. A written promise to repay the loan is called a promissory note.
A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
Synonyms of Loan
Wall Street loan, Accommodate with, Accommodation, Advance, Allow, Allowance, Call loan, Call money, Collateral loan, Credit, Demand loan, External loan, Float a loan, Foreign loan, Lease-lend, Lend, Lend-lease, Loan-shark, Long-term loan, Negotiate a loan, Policy loan, Secured loan, Short-term loan, Time loan, Unsecured loan, Credit, Advance, Lend, Advance, Give credit, Credit, Allow
How to use Loan in a sentence?
- I really wanted a home because I saw other people living in nice homes but I am poor so I decided to apply for a loan .
- A loan may be able to provide you with the cash you need to buy your first, or even, second home.
- The word processor was loaned to us by the theater.
- Borrowers can take out a loan for $84,000.
- Leland was nervous about his upcoming meeting at the bank because if they didnt give him the loan he needed, he wouldnt be able to hang onto his small business.
Meaning of Loan & Loan Definition