Meaning of LOAN in English

I. loan 1 S2 W2 /ləʊn $ loʊn/ BrE AmE noun

[ Date: 1100-1200 ; Language: Old Norse ; Origin: lan ]

1 . [countable] an amount of money that you borrow from a bank etc

loan of

a loan of £60,000

I had to take out a loan to buy my car.

It’ll be years before we’ve paid off the loan.

2 . [singular] when you lend something to someone

loan of

Thanks for the loan of your camera.

3 . on loan (from somebody/something) if something or someone is on loan, they have been borrowed:

The book I wanted was out on loan.

paintings on loan from the Louvre

Cantona initially went on loan to Leeds United.

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■ verbs

▪ take out a loan (=borrow money)

Most home buyers take out a loan.

▪ repay/pay off/pay back a loan (=give back the money you borrowed, usually over a period of time)

You can repay the loan early without a penalty.

▪ give somebody a loan

I hoped to persuade my bank manager to give us a loan.

▪ make a loan (=give someone a loan)

Banks are cautious about making new loans.

▪ ask for/apply for a loan

He asked his father for a loan.

▪ get a loan

She got a loan from the bank.

▪ secure a loan (on something) (=agree to give the lender something if you do not pay back the loan on time)

The loan was secured on his home.


▪ a £20,000/$5,000 etc loan

The company asked for a £100,000 loan.

▪ a bank loan (=money lent by a bank)

What is the interest you will pay on a bank loan?

▪ a home/car loan (=a loan to buy a home or a car)

They took out a thirty-year home loan.

▪ a personal loan (=money lent to a person, rather than a company)

If you want money for a specific purchase, you can get a personal loan.

▪ a business loan (=money lent to a business)

The bank offers a range of business loans to meet the needs of small businesses.

▪ a student loan (=money lent to a student to pay for university)

Many college graduates are paying off huge student loans.

▪ a long-term/short-term loan (=to be paid back after a long/short time)

I intended the money as a short-term loan.

▪ an interest-free loan (=on which you pay no interest)

They offer an interest-free loan for two years.

▪ a low-interest loan

a low-interest loan to the country from the International Development Association

■ loan + NOUN

▪ a loan repayment

your monthly loan repayments

▪ a loan agreement (=that says how much the loan will be, how much you will pay back each month etc)

Read the terms of your loan agreement carefully.

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▪ loan noun [countable] an amount of money that is borrowed, especially from a bank or company, which you agree to pay back by the end of a period of time:

We took out a loan to buy a new car.


He is paying back a $50,000 loan.

▪ mortgage noun [countable] a large amount of money that someone borrows from a bank or company to buy a house:

Nick told me the mortgage on his apartment is worth about $90,000.


Anyone taking out a mortgage should be aware that interest rates can go up at any time.


It took my parents nearly thirty years to pay off their mortgage.

▪ interest noun [uncountable] money that you pay for borrowing money, especially that you pay every year or every month at a fixed rate:

Credit companies charge huge amounts of interest.


What’s the interest on the loan?

▪ overdraft noun [countable] British English the amount of money that you owe to bank when you have spent more money than you had in your account:

I left university with no job and a big overdraft.


20% of the bank’s customers regularly use their overdraft facility.


You have to pay a fee for unauthorized overdrafts.

▪ debt noun [uncountable and countable] an amount of money that a person or organization owes:

The company now has debts of almost £2 million.


A lot of the money went towards paying his debts.


The family were $100,000 in debt (=they owed $100,000) .

▪ credit noun [uncountable] an arrangement with a shop or bank that allows you to buy something and pay for it later:

We bought the furniture on credit.


He had a credit limit of £7,000.

II. loan 2 BrE AmE verb [transitive]

1 . American English to lend someone something, especially money

loan somebody something

Can you loan me $5?

Jeff’s loaned us his car for the weekend.

2 . ( also loan out British English ) to lend something valuable to someone:

The National Library has loaned several manuscripts.

loan something to somebody/something

Two of the steam trains have been loaned to other railways.

Longman Dictionary of Contemporary English.      Longman - Словарь современного английского языка.