[take] out a loan
1
to borrow money from a bank or financial institution that must be paid back, usually with an extra amount added
- He decided to take out a loan to buy a new car.
- They took out a loan to renovate their house.
- They were approved to take out a loan for their small business.
- He took out a loan to cover unexpected medical expenses.
- She had to take out a loan to pay for her education.