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A loan is a type of debt. It is an agreement for a temporary transfer of money from its owner (the lender) to a borrower who promises to return it according to the terms of the agreement, usually with interest as payment for its use.

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Some terms you may want to find more about:

debt, borrowing, lending, overdraft, principal, interest, interest rates, mortgage, secured, unsecured, security, asset, credit, credit rating, flexible interest rate, fixed interest rate, base bank rate, cash flow, repayment, business plan, budget, forecasts.