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 • 1141 views

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.

Show examples from the web [+]

He had to take a loan out from the DL.
Once he had a fair amount of honest citizens in his debt, Well, he made the transition into being a loan shark.
Newly originated SME loans are partly covered by the programme contribution on a loan by loan basis up to a certain amount (Cap).
Please define the A-Loan Loan to Value Method of calculation.
On 29 December 2005, [another private creditor] converted interest rates into a loan amounting to approx. EUR 1532500 with a loan period until the end of 2010.
Moreover, he could not have anticipated the sale, as he had come to an arrangement with his bank on the repayment of a loan.
He had no problem getting Harry Cohn to agree to a loan-out,
We'll get a loan to pay the loans. That's how it's done.
Loan Two was a loan from FIH Erhvervsbank to Newco of approximately DKK 13,45 billion (EUR 1,8 billion).
The conditions of the shareholder loans in 2006-08 were determined on the basis of a loan agreement between Sachsen LB and MFAG.
Illustration: A securitisation/ loan transfer is simply the sale of a loan to a third party.
The total amount of a loan partially or totally classified as a bad loan is excluded from interest rates statistics.
Greece has received a package of coordinated bilateral loans from Member States as well as a loan from the IMF.
As soon as they are transformed into a loan, they shall be classified as loans to households for house purchases.
He had shot for three days... and wanted to replace the director who was on the film... and asked if Stanley could be acquired, sort of on a loan-out basis.
To finance this reorganisation, the company took out additional loans (a loan of DEM 375000 at the Dresdner Bank AG and a loan of DEM 725000 at the Sparkasse Erfurt) in the fourth quarter of 1996.
Ireland has received a package consisting of bilateral loans, a loan from the European Financial Stability Facility (EFSF) and also a loan from the IMF.
Maybe, but I just got hit for a loan.
Yesterday you were a loan shark.
He's a loan shark alright, but he'd never admit it.

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.