Definitions from the Web
Bank Loan
Description:
A bank loan refers to a sum of money borrowed by an individual, business, or organization from a bank or financial institution, generally with the intention of being repaid over time with interest. It is a common form of financing for various purposes, such as starting or expanding a business, purchasing a home or car, or funding personal expenses.
Sample Sentences:
- I applied for a bank loan to finance my new business venture.
- The bank approved his bank loan application after reviewing his credit history.
- She obtained a bank loan to buy her dream house.
- The company relied on a bank loan to upgrade its manufacturing facilities.
- He paid off his bank loan in monthly installments over a period of five years.
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