- A sum of money or other valuables or consideration which an individual, group or other legal entity borrows from another individual, group or legal entity (this latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest). Occasionally collateral is required to assure that the borrower repays his or her debt or returns the consideration thus loaned. Most loans require some sort of positive (or at least a lack of negative) credit to be established by the borrower first.
verb (loans, loaning, loaned)
- He got a five grand .
- The contract and array of legal and/or ethical obligations surrounding a loan. He made a payment on his .
- The permission to borrow any item.
- Thank you for the of your lawn mower.
- To lend. This usage is confined to the US (or perhaps parts thereof) and elsewhere is ungrammatical (loan being the noun, and lend the verb).
Etymology: Middle English from Old Norse lín, akin to Old English lín
- 2006: When you loan somebody something, they have the responsibility to safeguard it. — w:Judge Judy, Judge Judy (unidentified episode, but frequently heard from her as a verb)
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Full Definition of loan