A loan deal refers to an agreement between a borrower and a lender, wherein the borrower receives money from the lender for a specific period of time with interest. This type of arrangement is commonly used by individuals or businesses who need access to funds temporarily but do not have enough cash on hand to cover expenses. The loan deal can be structured in various ways, such as fixed rate loans, variable rate loans, secured loans (backed by collateral), and unsecured loans (not backed by collateral). It is essential for the borrower to carefully consider the terms of the agreement before signing on the dotted line.