Borrower
The person or business that receives money or credit from a lender and is responsible for repayment under the agreement.
Related terms
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Co-borrower
A person who borrows jointly with another and is usually responsible for the debt under the terms of the agreement.
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Lender
A person or organisation that provides money or credit on terms requiring repayment.
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Credit limit
The maximum amount a lender agrees a borrower may owe under a credit facility at a particular time.
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