First Known Use: 12th century
Dictionary
1loan
noun \ˈlōn\
: an amount of money that is given to someone for a period of time with a promise that it will be paid back : an amount of money that is borrowed
: permission to use something for a period of time
Full Definition of LOAN
1
a : money lent at interest b : something lent usually for the borrower's temporary use
2
a : the grant of temporary use b : the temporary duty of a person transferred to another job for a limited time
3
: loanword
See loan defined for English-language learners
See loan defined for kids
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Origin of LOAN
Middle English lon, from Old Norse lān; akin to Old English lǣn loan, lēon to lend, Latin linquere to leave, Greek leipein
Other Economics Terms
2loan
verb
: to give (something) to (someone) for a period of time
: to give (money) to (someone) who agrees to pay it back in the future
Full Definition of LOAN
transitive verb
: lend
— loan·able \ˈlō-nə-bəl\ adjective
See loan defined for English-language learners
Usage Discussion of LOAN
The verb loan is one of the words English settlers brought to America and continued to use after it had died out in Britain. Its use was soon noticed by British visitors and somewhat later by the New England literati, who considered it a bit provincial. It was flatly declared wrong in 1870 by a popular commentator, who based his objection on etymology. A later scholar showed that the commentator was ignorant of Old English and thus unsound in his objection, but by then it was too late, as the condemnation had been picked up by many other commentators. Although a surprising number of critics still voice objections, loan is entirely standard as a verb. You should note that it is used only literally; lend is the verb used for figurative expressions, such as “lending a hand” or “lending enchantment.”
First Known Use of LOAN
13th century
Other Economics Terms
LOAN[2] Defined for Kids
1loan
noun \ˈlōn\
Definition of LOAN for Kids
1
: money given with the understanding that it will be paid back
2
: something given for a time to a borrower <That's not mine, it's a loan.>
3
: permission to use something for a time <May I have the loan of your car?>
2loan
verb
loanedloan·ing
Definition of LOAN for Kids
: to give to another for temporary use with the understanding that the same or a like thing will be returned <loan a book> <loan money>
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