personal loan

[ pur-suh-nl lohn ]
/ ˈpɜr sə nl ˈloʊn /
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noun Finance.
a loan made for discretionary use typically to a person with a high credit score who is generally not asked to provide collateral to back up the loan. A personal loan may be used for almost any purpose, such as consolidating credit card debt, making home improvements, or making a major purchase. She got a personal loan so she could take time off from work and go on a round-the-world cruise.
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“Was” is used for the indicative past tense of “to be,” and “were” is only used for the subjunctive past tense.

Origin of personal loan

First recorded in 1850–55
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

How to use personal loan in a sentence