This book is only a novel in the 'loose' sense of the word. [=the word “novel” does not usually refer to a book like this; many people would not consider the book a novel]
Ten advocacy groups from all parts of the country formed a 'loose' alliance/association/coalition to present their shared interests to Congress.
She's been 'cut loose' from her contract. [=the company/organization with whom she had a contract to work has ended the contract]
(..) Where will you get the money to back this? Hit these three casinos, we'll get our bankroll. Benedict's got a list of enemies. But enemies with loose cash and nothing to lose? -Reuben. -Reuben. Hey. Oscar, lower it a bit, would you? (..)2001 Ocean's Eleven