1. noun
a) 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).
He got a five grand loan.
b) The contract and array of legal or ethical obligations surrounding a loan.
He made a payment on his loan.
2. verb
When you loan somebody something, they have the responsibility to safeguard it.
Wikipedia foundation.