Homonym: Borrower (Debtor)
A Borrower is an individual or entity that takes money or assets from another party, typically a lender, with the agreement to repay it later, usually with interest. Borrowers can be individuals seeking personal loans, businesses needing capital for expansion, or even governments financing public projects.
The borrowing process often involves a formal agreement, such as a loan contract, which outlines the terms, including the repayment schedule and interest rates. Common types of loans include mortgages, student loans, and credit cards. Responsible borrowing is essential to maintain good credit and financial health.