When you translate something loosely, it's because the exact translation is not important at the moment -- you just want to impart the main idea, maybe to save time
What does loosely translated mean?
Answer:
Loosely translated means to translate a foreign language to another language and get the same meaning rather than to translate word for word. Take the following examples:
In Spanish, The expression Me casa su casa, translates, my house is your house. It means, make yourself at home. Es suyo, translates It is yours. It means, enjoy it.
In German, The expression Still Wasser ist tief translates still water is deep. It means quiet water runs deep, meaning a person who does not chatter ponders seriously.
In the Bible the Apostle Paul makes a statement, "Behold, I show you a mystery." In a Greek play, the same Greek is translated, "Wow, I just figured it out."