How to implement Asset Inventory?
Start with creating 3 content types like so:


Borrower, with as fields the various attributed you mentioned within Borrower Information.
Asset, with as fields the various attributed you mentioned within Asset Details.
Loan, with as fields the various attributed you mentioned within Loan Information.


Then use the Entity Reference module to add 2 more fields to Loan:


a 1st entity reference field to indicate the Borrower.
a 2nd entity reference field to indicate the Asset.


Then use the Views module to build all sorts of lists. Such as a Loan history, which could simply be a list all nodes of type Loan, in which you'd also want to add a Views "relationship" to Borrower and/or Asset. You could also add some Views filter(s) to further  limit this list to fit your needs, e.g. to list all available (not borrowed) assets (as in your comment to my answer). For this kinds of lists I often use the dataTables module to make the searching even more flexible/dynamic (in the browser). Refer to my answer to "How to display the data of a View in table format?" for (way) more details on that.

You could easily take this a step further by also adding the Rules module to the mix. E.g. to schedule an eMail reminder to the borrower X days before the "to be returned date". However, for this to work (make sense), you'll also want to add an extra field (of type date) to the Loan type to register the actual return date of the Asset (which you should also add IMO even if you don't want this extra Rules feature). Assuming you added such return date field, you'd want to check it's value in such eMail reminder (to avoid sending reminders for Assets that were returned already).