The important side effect of such cash loans is that once on the market, they are indistinguishable from any other cash. So the bank essentially increased amount of cash in circulation. While technically they didn't "print money", for all practical purposes, they did. And since this cash slowly propagates throughout economy, it increases the total supply which leads to raising prices. Prices raise first where this newly loaned cash is being applied. Since 2000s it is stock market. It grows in total sync with Fed's "bonds buying".