Loan vs Payment - What's the difference?
loan | payment |
(banking, finance) 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).
*
, title=The Mirror and the Lamp
, chapter=2 The contract and array of legal or ethical obligations surrounding a loan.
The permission to borrow any item.
To lend (something) to (someone).
* 2006: — (unidentified episode, but frequently heard from her as a verb)
(uncountable) The act of paying.
(countable) A sum of money paid in exchange for goods or services.
* , chapter=7
, title=
As nouns the difference between loan and payment
is that loan is (banking|finance) 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) or loan can be (scotland) a lonnen while payment is (uncountable) the act of paying.As a verb loan
is to lend (something) to (someone).loan
English
Etymology 1
From (etyl) lone, lane, from (etyl) . More at (l).Noun
(en noun)citation, passage=That the young Mr. Churchills liked—but they did not like him coming round of an evening and drinking weak whisky-and-water while he held forth on railway debentures and corporation loans . Mr. Barrett, however, by fawning and flattery, seemed to be able to make not only Mrs. Churchill but everyone else do what he desired.}}
Hypernyms
* (something that a legal entity borrows) bailmentHyponyms
* (something that a legal entity borrows) mutuumDerived terms
* bridge loan * caveat loan * loan shark * low-doc loan * swing loanVerb
(en verb)- When you loan somebody something, they have the responsibility to safeguard it.
Usage notes
* This usage, once widespread in the UK, is now confined to the US (or perhaps parts thereof). * It is often considered preferable to use lend when the object being loaned or lent is something other than money.Etymology 2
See lawn.Anagrams
* ----payment
English
Noun
The Mirror and the Lamp, passage=“[…] This is Mr. Churchill, who, as you are aware, is good enough to come to us for his diaconate, and, as we hope, for much longer; and being a gentleman of independent means, he declines to take any payment .” Saying this Walden rubbed his hands together and smiled contentedly.}}