Question

What is a loan and how do we use it

Answer 1

a loan is money you borrow from somebody or a bank, and then you pay them back the money they let you borrow. It basically works like this, say you have no money and you need gas in your car or you need to buy groceries. You either ask someone or go to bank and ask them for how much you need. They give it to you, you just have to pay them back. FYI... the best place to get a loan is the bank. Hoped this help.

Answer 2

A loan is a borrowed money that is expected to be paid later. You can use it if you have financial problems like paying for college which you could use student loan but you will be in debt, having to pay back what you borrowed from the government.