Finally, after we introduced the meaning of lending above, I believe that everyone has a certain understanding of what lending means, hoping to help you.
The main difference between a lender and a borrower is that a lender is a borrower and a borrower is a person who needs to borrow money. As a lender, we should pay attention to whether the borrower has good repayment ability and willingness, and keep the receipt. It is best to have a loan contract, stipulating the loan amount, interest and repayment date.
A borrower refers to an enterprise, institution or individual that borrows monetary funds from a lender with its own credit or property as a guarantee or a third party as a guarantee in credit activities.
Lender refers to the party who delivers the currency or physical object to the borrower for possession or use in the loan contract, and regularly or irregularly recovers the currency or physical object of the same kind, quantity and quality as the borrower, or recovers the original object according to the agreement.
Therefore, in private lending, lenders refer more to the party who borrows money, while borrowers refer to the party who needs to borrow money and borrow money from others.
Lender refers to the party who, in the loan contract or loan contract, delivers the money or physical object to the borrower for possession or use, and regularly or irregularly takes back the money or physical object of the same kind, quantity and quality as the original object according to the agreement. A borrower refers to an enterprise, institution or individual that borrows monetary funds from a lender with its own credit or property as a guarantee or a third party as a guarantee in credit activities.
Legal basis:
Article 674th of the Civil Code stipulates:
The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
Article 675 of the Civil Code stipulates:
The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.