Loan

{
  "id": "MLC-T-LAW-005380",
  "term": "Loan",
  "field": "Law",
  "definition": "The lending of money, property, or other material goods by one party to another in exchange for future repayment of the principal amount plus interest. The terms of the agreement, including the interest rate, repayment schedule, and any fees, are documented in a loan agreement or promissory note. A loan is secured when the borrower pledges an asset as collateral to guarantee repayment, whereas an unsecured loan has no such backing and is based solely on the borrower's creditworthiness.",
  "url": "https://mlchart.com/terminology/law/loan/"
}