[Haz66]

Loaning is a little more complicated than you may think, for a start there are Short term loans and Long term loans.
A short term loan is between 28 and 93 days, and a club is allowed 4 short term loanee`s at anyone time during the season, but no more than 8 over the entire season.
A club is also allowed 4 long term loanee`s at the club during the season, so in effect you can have 8 loan players at a club, but you can only name 5 on any given team sheet for a match.
A club can only take 4 loan players from any one club at a time, and any one club can only loan out 6 Long term loan players at any one time.
If a short term player signs during the season then his loan period does not count, ie if you had already loaned 8 players and sign one of them you can then take another player on loan.

Hope this clears things up a bit.