Loan
Etymology
From Old Norse "lán", related to Old English "læn", from a Proto-Germanic root meaning to let have or leave with, ultimately from a PIE root "to leave". It is a close cousin of "lend": a loan is what is left in someone else’s hands for a time. The word entered English from Scandinavian usage.
noun · /LOHN/
A sum of money given to someone on the condition that it be paid back, usually with interest.
What it names
The transaction at the root of most debt — a handover of money now against a promise of money later.
Example
She took out a small loan to cover tuition and repaid it within two years.
Related idea
Distinguish credit: a loan is a specific lump sum handed over once, while credit is a standing arrangement to borrow up to a limit, drawing and repaying as you go.