A sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest). (noun)
The contract and array of legal or ethical obligations surrounding a loan. (noun)
The permission to borrow any item. (noun)
To lend (something) to (someone). (verb)
Examples of word loan
In December, Novelis Inc. refinanced a term loan of $1.5 billion with a lower coupon of 3 percentage points over the London interbank offering rate or Libor.
Quiznos owes lenders led by Goldman Sachs Group Inc. $575 million under a term loan and $70 million under a revolving credit line that matures in May.
Under the details announced last week, Chrysler secured $3.2 billion in bonds, $3 billion in a term loan and a $1.3 billion revolving credit facility.
For example, here is a result for "Connor Erickson" with the term "loan modification", a pretty typical result for almost all names used:
Two capital needs were identified: a term loan of $350,000 to finance office improvements and new equipment; and a $200,000 line of credit to cover the more seasonal requirements of fabric ordering, finished-goods production, and marketing and selling costs.