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 ?
A limited number of loaner copies will be available at the Adult Information Desk beginning Oct.
There's no guarantee that the loaner laptops are secure, nor are they guaranteed to have the software or data files that a traveler would need to be productive.
* Commitment to Uptime: Determine in advance if the provider offers onsite support or if they can provide loaner instruments while yours is being repaired.
"Kimberly-Clark really takes the time to understand the challenges users face with processing and handling heavier instruments and loaner trays," says Mark Duro, manager of the central sterile processing department at a leading orthopedic hospital.
Your shop capacity is always displayed for your location along with those waiting and loaner capacity on the Service Tab.
Under the bicycle loaner program, which offers employees free use of 10 bicycles located in the parking garage of the Harry S Truman building, employees can borrow a bike to attend a meeting or take a short, lunchtime ride on the Mall.
Millstone's wide range of outsourcing options includes packaging design and validation engineering, advanced mechanical inspection, sterile and non-sterile packaging, loaner kit processing, and distribution services.
The core features available in Tektronix Gold Care Plans - at a single price - include: a loaner product of equal or higher performance on product failures of any type, scheduled factory-certified calibration, EOS/ESD coverage,priority processing of all failed products, priority access to Tektronix technical support and call centers and uninterrupted coverage for up to 5 total years with automatic renewal.
Ranges can receive the M22 pistol on loan for six months, after which range operators may purchase the pistol for $229.95--MSRP normally starts at $369.95--and qualify for another loaner for six months.
Despite the daunting obstacles posed by singing over the border without being buttressed by a gathering of local community singers, and without enough loaner copies of the book to go around, the assembled host of "throats" raised a grand and glorious sound.
Foundation's Life Jacket Loaner Program offers infants', toddlers' and children's life jackets at more than 350 locations nationwide.
A delighted Brian, who used to drive a four-year-old Fiat Panda, said: "This is a loaner - mine will take a few weeks."