Loop shortly arising close to home (5)
I believe the answer is:
noose
'loop' is the definition.
(I know that noose is a kind of loop)
'shortly arising close to home' is the wordplay.
'shortly' becomes 'soon' (synonyms).
'arising' shows that the letters should be reversed in order.
'close to home' becomes 'e' (I am not sure about this - if you are sure you should believe this answer much more).
'soon' written backwards gives 'noos'.
'noos'+'e'='NOOSE'
Can you help me to learn more?
(Other definitions for noose that I've seen before include "Hangman's rope" , "form of punishment" , "Sliding loop in a lasso (5)" , "trap" , "Loop formed by means of a slip knot" .)