Lending services refer to financial offerings that allow individuals or businesses to borrow money for various purposes, such as purchasing a home, financing education, or starting a business. These services are typically provided by institutions like banks, credit unions, and online lenders, which assess the borrower's creditworthiness before approving a loan. The loans can come in different forms, including personal loans, mortgages, and auto loans. Borrowers usually repay the borrowed amount over time, along with interest, which is the cost of borrowing. Lending services play a crucial role in the economy by enabling access to funds for those in need.