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loan

n. · v.
US //ˈɫoʊn// UK //lˈəʊn// loan
  1. 1 borrowed money (n.)
    B1 Intermediate Finance

    money that you borrow from a bank or person and must pay back, usually with extra interest.

    a sum of money provided by a lender to a borrower on the condition that it be repaid, typically with interest, over a specified period.

    Example

    The bank approved her loan so she could finally buy a small apartment.

    Example

    The small business owner applied for a low-interest loan to cover the costs of upgrading the kitchen equipment before the summer season.

    Usage

    Often used with the verbs 'take out', 'repay', or 'apply for'.
    Pitfall
    I need to take a loan for my new car.
    I need to take out a loan for my new car.

    In English, we use the phrasal verb 'take out' when talking about obtaining a loan from a bank.

  2. 2 the act of lending (n.)
    B2 Upper Intermediate

    the act of letting someone use something for a short time.

    the act of granting temporary use of an object or property to another party.

    Example

    The famous painting is currently on loan to a museum in Paris.

    Example

    Several rare manuscripts were provided on loan from the national archives for the duration of the historical exhibition.

    Usage

    Commonly used in the phrase 'on loan'.
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  1. 3 to lend (v.)
    B2 Upper Intermediate American English Informal

    to give something to someone for a period of time, expecting to get it back.

    to lend something to a recipient; frequently used ditransitively with both a direct and indirect object.

    Example

    Could you loan me your umbrella until tomorrow morning?

    Example

    He agreed to loan his brother the deposit for the flat, provided they signed a formal agreement regarding the repayment schedule.

    Usage

    In British English, 'lend' is preferred as the verb form.
    Pitfall
    Can you loan to me five dollars?
    Can you loan me five dollars?

    When using 'loan' as a verb, the person receiving the item usually comes immediately after the verb without 'to'.

Etymology 1

From Middle English lone, lane, from Old Norse lán, from Proto-Germanic laihną, from Proto-Indo-European leykʷ- (“to leave (over)”). Cognate with Icelandic lán, Swedish lån, Danish lån, German Lehen (“fief”), Dutch leen (“fief”), West Frisian lien, North Frisian leen (“fief; loan; office”), Scots lane, lain, len, Old English lǣn. More at lend.

Etymology 2

From Scottish Gaelic lòn (“marshy meadow”) (compare lèana (“wet meadow, marsh, meadow”)).

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