Found in the following dictionaries
OTCWL2014 (NASPA Word List 2014)
TWL06 (NASPA List 2006)
TWL06 (NASPA List 2006)
"Loanee" Definition
noun
Borrower; someone who is loaned something.
Source: Wiktionary
Someone who is being loaned, someone playing for another club on loan.
Source: Wiktionary
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