Definition: An act or instance of lending, an act or instance of granting something for temporary use.
Alright class, settle down and let’s take a look, At the word “loans,” a concept we need to cook! The dictionary gives us a helpful clue, “An act or instance of lending, it's true!” Think about this: you borrow a toy with glee, That’s a loan, for a little while, you see. Or maybe your friend needs a tool to mend, You lend it to them, ‘til the very end! It also means something given for a space, Like a temporary use, at a certain pace. So “loans” are agreements, clear and bright, Where someone gives something, with borrowed light! Does that make sense? Any questions you’d like to pose? Let's discuss this concept, before the lesson goes!