I've used both terms Jackie, but the other way round. A loan translation (also called a calque) is translating a compound word or an expression bit by bit to make a new one in your language, while a loanword is a word taken over more or less as is.

So for example I believe an older German word for telephone is fernspreche (fern being a translation of tele and spreche of phone), which makes it a loan translation, while orangutan is a loanword from the Indonesian orang hutan (forest person).

Bingley

Bingley