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Definition 1:
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 .
Examples:
He took out a loan (from the bank) to pay for the car.
He got a car loan.
He’ll need several more years to pay off/back the rest of the loan.
She needed money, so she asked her friend for a loan.
A student loan [=a loan that is used to pay for a student’s education]
A bank loan [=a loan that is made by a bank]
A personal loan [=a loan that is made by a bank to someone for a personal need]
Definition 2:
Permission to use something for a period of time .
Examples:
Can I have the loan of your car? [=(more commonly) can I borrow your car?]
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