Yes, because that is effectively saying there is a limit to support use it wisely; IOTL the UK/CW got over $30 Billion in LL that was unlimited and told you can have all you need until we win the war, whereas ITTL its just $5 Billion, good luck.
It's an interesting question in OTL church ills strategy was to spend money on everything they needed hoping that the U.S. Would come through with unsecured loans so he might see this loan as the start of this process.
If however this was seen as a one time offer and Britain went on a dollar conservation policy then interesting choices would be made, the scope of Britains purchases of American aircraft would diminish considerably and the taking over of French orders would mostly cease.
Probably historical purchases of artillery and small arms would go ahead along with investment in increasing American shipbuilding capacity. Armoured vehicle purchases and direct purchase of ships would be another priority.
More British investment in Canadian assembly plants using US parts (pay the workers in sterling which saves Dollars)
Reserve a lot of the cash for purchases of U.S. Raw materials Oil, and food. and Ship repair for RN ships.
Interesting
Regards Hipper