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"take out a loan" vs "take a loan"

Both "take out a loan" and "take a loan" are correct phrases, but they are used in slightly different contexts. "Take out a loan" is more commonly used and refers to the action of obtaining a loan from a financial institution. On the other hand, "take a loan" is less common and may sound a bit more informal. It is used to express the idea of borrowing money without specifying the source.

Last Updated: March 19, 2024

take out a loan

This phrase is correct and commonly used in English.

This phrase is used when someone obtains a loan from a financial institution.

Examples:

  • I need to take out a loan to buy a new car.
  • She decided to take out a loan to start her own business.
  • They took out a loan to renovate their house.

Alternatives:

  • obtain a loan
  • get a loan
  • apply for a loan
  • secure a loan
  • borrow money

take a loan

This phrase is correct but less common in English.

This phrase is used to express the idea of borrowing money without specifying the source.

Examples:

  • I might need to take a loan to cover the expenses.
  • She took a loan from a friend to pay for the repairs.
  • They decided to take a loan to fund their trip.

Alternatives:

  • borrow money
  • get a loan
  • take a loan out
  • obtain a loan
  • secure a loan

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