loan

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Loan

Temporary borrowing of a sum of money. If you borrow $1 million you have taken out a loan for $1 million.

Loan

The extension of money from one party to another with the agreement that the money will be repaid. Nearly all loans (except for some informal ones) are made at interest, meaning borrowers pay a certain percentage of the principal amount to the lender as compensation for borrowing. Most loans also have a maturity date, by which time the borrower must have repaid the loan.

A loan may be guaranteed by collateral, meaning that the lender either keeps an asset belonging to the borrower until the loan is repaid or has the right to seize such an asset in the event of default. Often, loans are obtained to purchase a major asset, such as a house. These loans are generally guaranteed by the asset they are used to buy. Lending is a foundational component of capitalism.

loan

the advance of a specified sum of MONEY to a person or business (the BORROWER) by other persons or businesses, or more particularly by a specialist financial institution (the LENDER) which makes its profits from the INTEREST charged on loans. The provision of loans by COMMERCIAL BANKS, FINANCE HOUSES, BUILDING SOCIETIES etc. is an important source of CREDIT in the economy serving to underpin a substantial amount of spending on current consumption and the acquisition of personal and business assets.

Loans may be advanced on an unsecured or secured basis; in the latter case the lender requires the borrower to offer some form of COLLATERAL SECURITY (for example property deeds) which the lender may retain in the event of the borrower defaulting on the repayment of the loan. See BANK LOAN, INSTALMENT CREDIT, MORTGAGE, LOAN STOCK, DEBENTURE, LOAN GUARANTEE SCHEME, INTEREST RATE, SOFT LOAN.

loan

the advance of a specified sum of MONEY to a person or business (the BORROWER) by other persons or businesses, or more particularly by a specialist financial institution (the LENDER), which makes its profits from the INTEREST charged on loans. The provision of loans by COMMERCIAL BANKS, FINANCE HOUSES, BUILDING SOCIETIES, etc., is an important source of CREDIT in the economy, serving to underpin a substantial amount of spending on current consumption and the acquisition of personal and business assets.

Loans may be advanced on an unsecured or secured basis; in the latter case the lender requires the borrower to offer some form of COLLATERAL SECURITY (for example, property deeds) which the lender may retain in the event of the borrower defaulting on the repayment of the loan. See BANK LOAN, INSTALMENT CREDIT, MORTGAGE, LOAN CAPITAL, DEBENTURE, LOAN GUARANTEE SCHEME, INTEREST RATE, SOFT LOAN, BOND.

References in periodicals archive ?
David Lucas plays for Fleetwood as Scott Davies is banned and loanee Ryan Edwards could make a debut.
HARROGATE v HASTINGS Harrogate are hoping Shane Killock can shake off a knock but Dwayne Samuels is back from a ban and loanee Lewis Turner can feature.
Loanee Stephen McManus cannot play for City and Albert Adomah is on international duty.
RYAN KENT Kent is arguably the loanee who has made the most of his opportunity so far.
Birmingham have Watford loanees Diego Fabbrini and Lloyd Dyer available after both were ineligible to face their parent club at Vicarage Road on Saturday.
Oxford Utd v York U's have no fresh worries so loanee Kyle Vassell is likely to continue his wait for a first start.
But McCall wants him to stay until the end of the season and says securing deals for the hitman and fellow loanee Lionel Ainsworth would make for a successful transfer window.
Onloan Stoke defender Rory Delap and fellow loanee Ryan Tunnicliffe, from Manchester United, were both unused substitutes at Burnley in midweek and could return to the starting line-up.
With Wayne Routledge, Ashley Williams and Tottenham loanee Steven Caulker sure to be pivotal to their survival chances, Rodgers told The Express: "Swansea is a club a million miles behind nearly every other in the Premier League in terms of resources.
Those five, plus Ben Mee from Manchester City, a regular in the Foxes back four, all arrived in January after a takeover at the Crisp Bowl let Leicester pour money into the team, and not into full time signings but into the wages of loanees.
It was added that these loanees did not repay the dues of the Bank despite lapse of 5 to 14 years and thus the recoverable amount including mark-up and penal mark-up stood at Rs107.
In this end-of-season goal fest, Doncaster's Premier League loanees Jay Emmanuel-Thomas and Jordon Mutch lit up a thrilling derby, while their injured leading scorer Billly Sharp picked up the Player of the Year title at last night's awards dinner.