loan n
1 a: money lent at interest
b: something lent usu. for the borrower's temporary use
2: a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usu. with interest; broadly: the furnishing of something to another party for temporary use with the agreement that it or its equivalent will be returned
the leasing of the vehicle was termed a loan subject to usury statutes
bridge loan: a short-term loan used as a means of financing a purchase or enterprise prior to obtaining other funds
used a bridge loan to purchase a new home prior to the sale of their previous one
con·ven·tion·al loan /kən-'ven-chə-nəl-/: a loan for the purchase of real property that is secured by a first mortgage on the property rather than by any federal agency
demand loan: a loan that is subject to repayment upon demand of the lender
home equity loan: a loan or line of credit secured by the equity in one's home – called also equity loan, home equity line, home equity line of credit; see also qualified residence interest at interest 5
loan for con·sump·tion /-kən-'sümp-shən/: a loan in which the borrower is obligated to return property of the same kind as that borrowed and consumed
loan for use: a loan in which one party lends personal property to another with the understanding that the borrower will return the same property at a future time without compensation for its use: commodatum
— used chiefly in the civil law of Louisiana; compare bailment, deposit, loan for consumption in this entry
par·tic·i·pa·tion loan: a single loan in which two or more lenders participate
term loan: a loan extended to a business with provisions for repayment according to a schedule of amortization and usu. for a period of one to five years and sometimes fifteen years
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.