Yes. Spanish often uses a redundant indirect object pronoun alongside an explicit indirect object:
• Le pido un préstamo al banco.
Here le refers to “to the bank.” This duplication is common and clarifies the role of the bank as the indirect object. Omitting le (just saying Pido un préstamo al banco) is possible in casual speech but less standard.
Yes, here are a few alternatives:
• Obtener un préstamo (“to obtain a loan”)
• Tramitar un préstamo (“to process/apply for a loan”)
• Sacarse un préstamo (colloquial: “to get oneself a loan”)
But pedir un préstamo remains the most common everyday expression.