Meaning of the word loans in English

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

loans

US /loʊnz/
UK /ləʊnz/

Plural Noun

sums of money that are borrowed and expected to be paid back with interest

Example:
Many students rely on government loans to pay for their education.
The bank offers various types of loans for businesses.