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LSDefine

Simple English definitions for legal terms

loan

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A quick definition of loan:

A loan is when someone gives you money and you promise to pay it back later. It's like borrowing money from a friend, but instead you borrow it from a bank or another person. You have to pay back the money you borrowed plus extra money called interest. Sometimes you have to give something valuable, like your car or house, as a promise to pay back the loan.

A more thorough explanation:

A loan is when one person or organization agrees to lend money to another person or organization. This means that the borrower will receive a certain amount of money and will have to pay it back with interest over a period of time.

For example, if you want to buy a car but don't have enough money, you might take out a car loan from a bank. The bank will give you the money to buy the car, and you will have to pay it back over a few years with interest.

Loans can have different terms, such as the amount of money borrowed, the interest rate, and the length of time to pay it back. Some loans also require collateral, which is something of value that the borrower puts up as security in case they can't pay back the loan.

Overall, loans are a way for people and organizations to get the money they need to make big purchases or investments, but they come with the responsibility of paying back the borrowed money with interest.

LLP | loan broker

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JumpySubsequentDolphin
10:24
idk about septums, i only have nostril pierced @bulb
triplethread
10:24
snow i think we will prob hear back from kent the week of dec 1st
10:24
Past 10am and ....nothing
JumpySubsequentDolphin
10:24
I think UCLA a wave today no?
babycat
10:24
🚑
What time have UCLA waves been at
Dkk
10:24
It's only 7:24 AM. We on the west coast control the time.
thismanatemyson
10:25
UCLA please save me
triplethread
10:25
snow if i dont get invited for an honors college interview i might freak
Dkk
10:25
11:22:24 AM PST, wave will come.
triplethread
10:26
dkk are u a boy or a girl
Dkk
10:26
Wizard 101 told me I was a boy wizard.
triplethread
10:26
ok
BulbasaurNoLikeCardio
10:26
I am thinking it will be slower/quitter until after thanksgiving
snow
10:27
thread im like 90% sure im getting an R, but ive come to peace that this might be my unreasonable R for the cycle
triplethread
10:27
but snow we have the same stats. you'll be fine. i promise. if im this confident you should be too
Dkk
10:27
Only tiktok I will share cus I stay off that site.
I am sorry if you like it, but TikTok is fucking awful
LSDFan
10:28
tiktok is great
triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
m10
10:30
Sorry to hear @Eggan
BulbasaurNoLikeCardio
10:30
I think tik tok is evil and coming from a national defense background, working in PSYOP and in the intelligence community I can promise it is.
glovediedthisishismom
10:30
5318008 now look at it upside down ;)
snow
10:31
tik tok and youtube reals has fried my brain
babycat
10:31
@glovediedthisishismom: boobies!!!
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