From Paul Brians’ excellent book Common Errors in English Usage (to which, to remind readers once again, he allows free access at his webpage at Washington State University), here is a worksheet on the use of the verbs lend and loan. This is a full-page worksheet with a reading of two long compound sentences (which might be better chopped up for emergent or struggling readers, or students for whom English is not a first language) and ten modified cloze exercises.
The gist of the work here involves students judging whether both of these are best used as verbs, or if lend is the verb and loan is the object being lent–and therefore only used as a noun.
If you find typos in this document, I would appreciate a notification. And, as always, if you find this material useful in your practice, I would be grateful to hear what you think of it. I seek your peer review.
Mark's Text Terminal 