English · Work & Business
loan
/loʊn/
[/loʊn/]
borrowed money
Beginnernoun
Definition
An amount of money that is borrowed, usually from a bank, and must be paid back over time.
Example
They took out a loan from the bank to pay for their daughter's education.
They took out a loan from the bank to pay for their daughter's education.
Etymology
From Old Norse 'lán', related to Old English 'læn', meaning 'a grant or gift'.
How & Where It’s Used
Used in banking; also a verb in many English varieties ('to loan money').