A loan is usually gotten from a financial institution to solve a financial emergency which was unplanned for.
What is a Loan?
This refers to the obtaining of money from a financial institution and a formal agreement is made for the repayment of the money after a given period of time and with interest.
With this in mind, we can see that loan proceeds can be used to:
- Buy a house
- Go on a trip, etc
Please note that your question is incomplete so I gave you a general overview to help you get better understanding of the concept.
Read more about loans ere:
https://brainly.com/question/25239160
