The term 'Takes a Loan' can be summarized as 'Borrows'. This is a financial term used to describe the act of obtaining money from a lender, such as a bank or other financial institution, with the intention of repaying it in the future. The borrower is expected to pay interest on the loan and may also be required to provide collateral. Taking a loan is often necessary for people who need to purchase large items, such as a car or a house, but do not have the funds to do so.