Loan syndication occurs when two or more lenders come together to fund one loan for a single borrower.

Syndicates are created when a loan is too large for one bank or falls outside the risk tolerance of a bank.

The banks in a loan syndicate share the risk and are only exposed to their portion of the loan.

A loan syndicate always has a syndicate agent, which is the lead bank that organizes the loan, its terms, and other relevant information.

The Loan Syndications and Trading Association provides resources on loan syndications within the corporate loan market.