Meaning of the word "get a loan" in English

What does "get a loan" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

get a loan

US /ɡet ə loʊn/
UK /ɡet ə ləʊn/
"get a loan" picture

Phrase

to borrow a sum of money from a bank or financial institution that must be paid back with interest

Example:
We need to get a loan to buy a new car.
It is difficult for small businesses to get a loan these days.