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"He had a loan" vs "He has a loan"

Both phrases are correct, but they are used in different contexts. 'He had a loan' is used when referring to a past situation where someone possessed a loan. 'He has a loan' is used when talking about a current situation where someone still possesses a loan.

Last Updated: March 29, 2024

He had a loan

This phrase is correct and commonly used when referring to a past situation where someone possessed a loan.

This phrase is used to talk about a loan that someone possessed in the past. It indicates that the loan was acquired at some point in the past.

Examples:

  • He had a loan from the bank last year.
  • She had a loan for her car, but she paid it off.
  • They had a loan for their house before they moved.
  • I had a loan for my education when I was in college.
  • The company had a loan to expand its operations.

Alternatives:

  • He took out a loan
  • He borrowed money
  • He was granted a loan

He has a loan

This phrase is correct and commonly used when talking about a current situation where someone still possesses a loan.

This phrase is used to indicate that someone currently has a loan. It refers to the present possession of a loan.

Examples:

  • He has a loan with the bank that he is still paying off.
  • She has a loan for her business that she needs to repay.
  • They have a loan for their new car.
  • I have a loan for my house that I am managing.
  • The company has a loan to fund its projects.

Alternatives:

  • He currently holds a loan
  • He is in possession of a loan
  • He is still repaying a loan

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