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A loan is the payment of money by one person (usually a bank) to another who [[promise]]s to repay the loan in the future, typically with interest. Usually the loan is given based on the [[security]] of the lender being able to acquire ownership of the asset being acquired by the loan.
A '''loan''' is the giving of money by one person or entity (usually a bank) to another person or entity who [[promise]]s to repay the loan in the future, typically with [[interest]]. Usually the loan is given based on the [[security]] of the lender being able to acquire ownership of the asset being acquired by the loan.
While personal loans among individuals may involve repayment all at once, loans through financial institutions usually encompass regular payments to satisy the [[debt]].
[[category:legal terms]]
[[category:legal terms]]
[[category:business]]
[[category:business]]
[[Category:economics]]