Section 37-3-106 - "Loan" defined"Loan" includes:
(1) the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;(2) the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;(3) the creation of debt pursuant to a lender credit card or similar arrangement; and(4) the forbearance of debt arising from a loan.1982 Act No. 385, Section 27; 1974 (58) 2879; 1962 Code Section 8-800.236.