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1

loan

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noun \ˈlōn\

Simple Definition of loan

  • : an amount of money that is given to someone for a period of time with a promise that it will be paid back : an amount of money that is borrowed

  • : permission to use something for a period of time

Source: Merriam-Webster's Learner's Dictionary

Full Definition of loan

  1. 1 a :  money lent at interest b :  something lent usually for the borrower's temporary use

  2. 2 a :  the grant of temporary use b :  the temporary duty of a person transferred to another job for a limited time

  3. 3 :  loanword

Examples of loan in a sentence

  1. He got a car loan.

  2. He'll need several more years to pay off the rest of the loan.

  3. She needed money, so she asked her friend for a loan.



Origin and Etymology of loan

Middle English lon, from Old Norse lān; akin to Old English lǣn loan, lēon to lend, Latin linquere to leave, Greek leipein


First Known Use: 12th century


2

loan

verb

Simple Definition of loan

  • : to give (something) to (someone) for a period of time

  • : to give (money) to (someone) who agrees to pay it back in the future

Source: Merriam-Webster's Learner's Dictionary

Full Definition of loan

  1. transitive verb
  2. :  lend

loanable

play \ˈlō-nə-bəl\ adjective

Usage Discussion of loan

The verb loan is one of the words English settlers brought to America and continued to use after it had died out in Britain. Its use was soon noticed by British visitors and somewhat later by the New England literati, who considered it a bit provincial. It was flatly declared wrong in 1870 by a popular commentator, who based his objection on etymology. A later scholar showed that the commentator was ignorant of Old English and thus unsound in his objection, but by then it was too late, as the condemnation had been picked up by many other commentators. Although a surprising number of critics still voice objections, loan is entirely standard as a verb. You should note that it is used only literally; lend is the verb used for figurative expressions, such as “lending a hand” or “lending enchantment.”

Examples of loan in a sentence

  1. The National Gallery has been kind enough to loan this painting to our museum.

  2. His mother loaned him the money to buy a new car.

  3. Can you loan me $20?



13th Century

First Known Use of loan

13th century



LOAN Defined for Kids

1

loan

play
noun \ˈlōn\

Definition of loan for Students

  1. 1 :  money given with the understanding that it will be paid back

  2. 2 :  something given for a time to a borrower <That's not mine, it's a loan.>

  3. 3 :  permission to use something for a time <May I have the loan of your car?>




2

loan

play
verb

Definition of loan for Students

loaned

loaning

  1. :  to give to another for temporary use with the understanding that the same or a like thing will be returned <loan a book> <loan money>




Law Dictionary

loan

noun

Legal Definition of loan

  1. 1a :  money lent at interest b :  something lent usually for the borrower's temporary use

  2. 2 :  a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usually with interest; broadly :  the furnishing of something to another party for temporary use with the agreement that it or its equivalent will be returned <the leasing of the car was termed a loan> bridge loan :  a short-term loan used as a means of financing a purchase or enterprise prior to obtaining other funds <used a bridge loan to purchase a new home prior to the sale of the old one> conventional loan :  a loan for the purchase of real property that is secured by a first mortgage on the property rather than by any federal agency demand loan :  a loan that is subject to repayment upon demand of the lender home equity loan :  a loan or line of credit secured by the equity in one's home —called also equity loan, home equity line, home equity line of credit — see also qualified residence interest at interest 5 loan for consumption \-kən-ˈsümp-shən\ :  a loan in which the borrower is obligated to return property of the same kind as that borrowed and consumed —used chiefly in the civil law of Louisiana; — compare bailment deposit loan for use in this entry loan for use :  a loan in which one party lends personal property to another with the understanding that the borrower will return the same property at a future time without compensation for its use :  commodatum —used chiefly in the civil law of Louisiana; — compare bailment deposit loan for consumption in this entry participation loan :  a single loan in which two or more lenders participate term loan :  a loan extended to a business with provisions for repayment according to a schedule of amortization and usually for a period of one to five years and sometimes fifteen years





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