Load

A fee or commission charged to an investor when buying or redeeming shares in a mutual fund. The fee may be charged at the time the investor buys into the mutual fund (called a front-end load) or when the investor redeems his/her mutual fund shares (called a back-end load).

Investopedia Says:
Most mutual funds today carry some load, since costs are incurred in the operation of the fund and as a result of numerous shareholder transactions (i.e. buying and redeeming of mutual fund shares). Also, this load quite literally acts as a burden for investors, effectively discouraging them from trading the mutual fund short-term.

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Finance: sales charge paid by an investor who buys shares in a load Mutual Fund, typically 8¹/₂% of invested funds. Loads are usually charged when fund shares are purchased; a charge for withdrawing shares from a fund is called a back-end load. A fund that does not charge this fee is a No-Load Fund.