a person or thing that loans.
something, as an automobile or appliance, that is lent especially to replace an item being serviced or repaired.

1880–85; loan1 + -er1 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
loan1 (ləʊn)
1.  the act of lending: the loan of a car
2.  a.  property lent, esp money lent at interest for a period of time
 b.  (as modifier): loan holder
3.  the adoption by speakers of one language of a form current in another language
4.  short for loan word
5.  on loan
 a.  lent out; borrowed
 b.  (esp of personnel) transferred from a regular post to a temporary one elsewhere
6.  to lend (something, esp money)
[C13 loon, lan, from Old Norse lān; related to Old English lǣn loan; compare German Lehen fief, Lohn wages]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1884, "one who lends," from from loan. Meaning "a thing loaned" especially in place of one being repaired, is from 1926.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Golfers may bring their own clubs or use loaner clubs provided at the clinic.
The factory will supply a loaner device to the participant.
Loaner programs teach parents how to use a seat correctly for every ride.
Loaner clothes are required if students forget their clothes.
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