bank-loan

Vocabulary Word

Definition

A bank loan is money that a bank lends to you, which you have to pay back with interest over a set period. The interest is how the bank makes money from the loan.

Examples in Different Contexts

Bank loans in business finance are crucial for funding operations or expansion. A CEO might state, 'Securing a bank loan was a key step in financing our new manufacturing facility.'

Practice Scenarios

Creative

Scenario:

The costs for producing this play turned out to be much higher than expected. What are our financing options?

Response:

Perhaps we could look into getting a bank loan to meet the production costs.

Academics

Scenario:

The scholarship only covers part of our tuition. How can we manage the rest?

Response:

Have you thought about applying for a bank loan for students? It could cover our education expenses.