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loan

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noun loan pronunciation in American English /loʊn/ 
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singularloan
pluralloans
  1. 1
    [countable] an amount of money that a person, business, or country borrows, especially from a bank

    an interest-free loan

    obtain/arrange/take out a loan:

    Jim took out a loan to pay for his car.

    pay off/repay a loan:

    How soon do you have to pay off the loan?

    Kenya was still paying off a multimillion-dollar loan to the IMF.

  2. 2
    [singular] a situation in which someone lends something to someone
    loan of:

    He had accepted Tom's offer of the loan of his cabin in the mountains.

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