what is a lender 
a lender is an individual a group public or private or a financial institution that makes funds available to a person or business with the expectation that the funds will be repaid repayment will include the payment of any interest or fees 1 repayment may occur in increments as in a monthly mortgage payment or as a lump sum one of the largest loans consumers take out from lenders is a mortgage 2understanding lenderslenders provide funds for a variety of reasons such as a home mortgage an automobile loan or a small business loan the terms of the loan specify how it must be satisfied e g the repayment period and the consequences of missing payments and default a lender may go to a collection agency to recover any funds that are past due 