Some grammarians still insist that 'loan' is a noun while 'lend' is the verb, so when you are writing for a teacher, use them that way. From the Am Heritage Dictionary: "The verb loan is well established in American usage and cannot be considered incorrect. The frequent objections to the form by American grammarians may have originated from a provincial deference to British critics, who long ago labeled the usage a typical Americanism.
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