Token loan arranged to enclose most of pit (7)
I believe the answer is:
nominal
'token' is the definition.
('nominal' can be a synonym of 'token')
'loan arranged to enclose most of pit' is the wordplay.
'arranged' indicates anagramming the letters.
'to enclose' indicates putting letters inside.
'most of pit' becomes 'min' (I can't explain this - if you can you should believe this answer much more).
'loan' is an anagram of 'noal'.
'noal' enclosing 'min' is 'NOMINAL'.
Can you help me to learn more?
(Other definitions for nominal that I've seen before include "Inconsiderable" , "In name only or token payment" , "Ostensible" , "trifling" , "In name only, like face value of coin" .)