Vocabulary Showcase: Different types of ‘loan’
Have you ever tried to get a loan? This is where you borrow money from someone, or an organisation, and you pay it back later. It can be a little confusing in English though. Every loan has a different name.
Let’s take a look at different names for a loan (noun) and to loan (verb)!
• To lend (verb) – to give money to another person that will be paid back to you in the future.
• To borrow (verb) – you take money from another person and pay it back to them in the future.
• To buy something “on credit” – This is when you get the service or item you want but pay the money for it later.
• An advance (noun) – this is money that you earn from your job that you are paid early (in advance). This is also a verb – “they advanced my pay”.
• A mortgage (noun) – this is a loan of a large amount of money for buying a house.
What would you like to know more about? We have done doctors and loans. Where should we go next? Taxes? Pringles flavours? You decide.
To find out more about the private English lessons I teach online, visit www.wrightenglish.com. You can book a free trial lesson with me, just email lana@wrightenglish.com.
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