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 ?
NOTTS COUNTY v GRIMSBY Wolves loanee Aaron Collins is likely to be in for County.
RYAN KENT Kent is arguably the loanee who has made the most of his opportunity so far.
The QPR loanee is struggling with a stomach injury.
And Boro did have two of their own loanees in action - but they were refreshingly old school.
904 million to 49 loanees for setting up business during 1973 to 1996, but the borrowers did not pay their liabilities even after the expiry of loans repayment period, thus an amount of Rs14.
Apart from Hooper's pair and a cool finish from Hayes for United, the loanees stole the show.
Birmingham have Watford loanees Diego Fabbrini and Lloyd Dyer available after both were ineligible to face their parent club at Vicarage Road on Saturday.
HARTLEPOOL United could include Newcastle United loanee Sammy Adjei in their squad to face MK Dons today, writes PAUL REECE.
The loanee from Peterborough was a huge favourite with fans, both as a striker, and later when he switched to the centre of defence.
Loanees Shane Lowry and Gary McSheffrey have forgotten about their respective rivalries and are rooming together for the League One club.
Cheltenham v Stevenage Robins have six loanees and Matt Sparrow will hope not to miss out for a second match.