Definition, Meaning & Synonyms
extend-credit
verb phrase
/ɪkˈstɛnd ˈkrɛdɪt/
Definition
To provide a loan or credit to a borrower.
Examples
- The bank decided to extend credit to small businesses affected by the pandemic.
- Retailers often extend credit to customers to encourage purchases.
- She was thrilled when the lender agreed to extend credit for her new car.
Meaning
Extending credit means allowing someone to borrow money or obtain goods or services with the promise of paying for them later.
Synonyms
- offer credit
- provide financing
- grant a loan
