Definition, Meaning & Synonyms
borrower
noun
/ˈbɔːroʊər/
Definition
A borrower is a person or entity that receives something, typically money, with the intention of returning it later, usually under agreed terms.
Examples
- The borrower must provide proof of income to secure the loan.
- As a borrower, it’s essential to understand the terms of your loan.
- The borrower defaulted on the payment schedule, leading to financial penalties.
Meaning
The term refers specifically to someone who takes out a loan or borrows money from a lender like a bank, with the promise to pay it back over time, often with interest.
Synonyms
- borrower
- debtor
- loanee
