- It refers to an amount of money that is borrowed and is expected to be paid back with interest
- It is something that is borrowed, typically for temporary use by the borrower
- It involves the giving of money from one person to another with an agreement that the amount will be returned, usually with additional interest, irrespective of any uncertain future events
- The bank approved the loan for the purchase of the house.
- The library has a three-week loan policy for books.
- The company took out a loan to invest in new machinery.