Cool MateLoan
UK /["/ləʊn/"]/US /["/ləʊn/"]/
Definition
money that an organization such as a bank lends and somebody borrows
In simple words: Money that you borrow and have to pay back later.
Examples
- She took out a loan to buy her first house.
- The bank approved his application for a student loan.
- The business needed a loan to expand its operations.
- They offered him a home equity loan based on the value of his property.
Usage notes
Use 'loan' in general contexts when discussing borrowing money. Avoid in very formal financial documents; prefer 'advance' or 'credit' instead.
Grammar pattern
loan + object + to + person
Memory hint
Think of 'loan' like 'alone' with a twist: you're alone with money you need to give back.
Collocations
- large
- massive
- small
- apply for
- ask for
- request
- total something
- application
- agreement
- arrangement
- on loan (from)
- loan from
- security for a loan
- large
- massive
- small
- apply for
- ask for
- request
- total something
- application
- agreement
- arrangement
- on loan (from)
- loan from
- security for a loan
Synonyms
- advance
- credit
- mortgage
- borrowing
- financing
Antonyms
- repayment
- return
Common mistakes
- Mixing up 'loan' and 'lone' which are pronounced differently.
- Using 'loan' as a noun only; it can also be a verb ('to loan money').
- Confusing repayment terms with leasing terms.