Is “Loan” a Scrabble word?

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Yes
LOAN
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Valid

Meaning of Loan

/ləʊn/

noun
  1. 1.An act or instance of lending, an act or instance of granting something for temporary use.

    Because of the loan that John made to me, I was able to pay my tuition for the upcoming semester.

  2. 2.A sum of money or other property that a natural or legal person borrows from another with the condition that it be returned or repaid over time or at a later date (sometimes with interest).

    All loans from the library, whether books or audio material, must be returned within two weeks.

  3. 3.The contract and array of legal or ethical obligations surrounding a loan.

    He made a payment on his loan.

Synonyms: lending, loaning, principal

verb
  1. 1.To lend (something) to (someone).