While loan versus lend is not exactly the kind post you would find on our blog, we thought it wise to take care of this once and for all. We have had a number of people talk and argue about the usage of the words loan versus lend in comments sections both on the blog in previous posts and on our social platforms.
While this is not exactly the kind post you would find on our blog, we thought it wise to take care of this once and for all. We have had a number of people talk and argue about the usage of the words loan versus lend in comments sections both on the blog in previous posts and on our social platforms.
The issue of loan versus lend is mostly a thing about the usage of the English language more than it is about the meaning. The meanings of both can almost be interchanged and really there is no need for an argument over it. Both ‘’loan’’ and “‘lend’’ refer to getting of funds or materials from another person or entity for personal or business use.
However, the difference between loan versus lend lies in the usage;
While loan is a noun; a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
“borrowers can take out a loan for £84,000”
Lend on the other hand is a verb; grant to (someone) the use of (something) on the understanding that it will be returned.
“Stewart asked me to lend him my car”
Note that both needs to be repaid, but in the case of a loan it is usually repaid with an interest.
With this you can now more easily differentiate between the two words without mixing up their meanings.
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