<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001641541</cik>
        <entityName>Guggenheim Loan Fund, Ltd.</entityName>
        <issuerAddress>
            <street1>100 WILSHIRE BOULEVARD, SUITE 500</street1>
            <city>SANTA MONICA</city>
            <stateOrCountry>CA</stateOrCountry>
            <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
            <zipCode>90401</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>310-576-1270</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Exempted Company with Limited Liability</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alastair</firstName>
                <lastName>McKeever</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>330 Madison Avenue, 10th Floor</street1>
                <city>NEW YORK</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. McKeever is Managing Director of the Investment Advisor of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <lastName>Hauser</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>330 Madison Avenue, 10th Floor</street1>
                <city>NEW YORK</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Hauser is Senior Managing Director of the Investment Advisor of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <lastName>Solomon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO Box 309, Ugland House</street1>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-1104</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <lastName>Shaw</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO Box 309, Ugland House</street1>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-1104</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001641541-25-000003</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2015-04-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>GUGGENHEIM SECURITIES, LLC</recipientName>
                <recipientCRDNumber>40638</recipientCRDNumber>
                <associatedBDName>GUGGENHEIM SECURITIES, LLC</associatedBDName>
                <associatedBDCRDNumber>40638</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>330 MADISON AVENUE</street1>
                    <street2>8th Floor</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10017</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Guggenheim Funds Distributors, LLC</recipientName>
                <recipientCRDNumber>39805</recipientCRDNumber>
                <associatedBDName>Guggenheim Funds Distributors, LLC</associatedBDName>
                <associatedBDCRDNumber>39805</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>805 King Farm Blvd, Suite 600</street1>
                    <city>Rockville</city>
                    <stateOrCountry>MD</stateOrCountry>
                    <stateOrCountryDescription>MARYLAND</stateOrCountryDescription>
                    <zipCode>20850</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>ABG, LLC</recipientName>
                <recipientCRDNumber>167190</recipientCRDNumber>
                <associatedBDName>ABG, LLC</associatedBDName>
                <associatedBDCRDNumber>167190</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>725 FIFTH AVENUE</street1>
                    <street2>24TH FLOOR</street2>
                    <city>NEW YORK</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10022</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Kelson Capital LLC</recipientName>
                <recipientCRDNumber>149477</recipientCRDNumber>
                <associatedBDName>Kelson Capital LLC</associatedBDName>
                <associatedBDCRDNumber>149477</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2 RAVENGLASS DRIVE</street1>
                    <street2>2ND FLOOR</street2>
                    <city>STAMFORD</city>
                    <stateOrCountry>CT</stateOrCountry>
                    <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
                    <zipCode>06903</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>WI</state>
                    <description>WISCONSIN</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>577632213</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>12</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>787940</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The fees are paid by the investment advisor of the Issuer and the estimate includes amounts that may be payable over the next 12 months.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Guggenheim Loan Fund, Ltd.</issuerName>
                <signatureName>Robert Saperstein</signatureName>
                <nameOfSigner>Robert Saperstein</nameOfSigner>
                <signatureTitle>Chief Compliance Officer of the Investment Adviser</signatureTitle>
                <signatureDate>2026-05-15</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
