an amount of money loaned at interest by a bank to a borrower, usually on collateral security, for a certain period of time.
The other was external debt: either a bank loan or a credit-card balance.
To be sure, for some people the best route out of poverty will be a bank loan.
Credit between family members requires the formalities of a bank loan, but the rate can be more favorable.
They said it was not a bank loan, nor was collateral needed to secure it.