A person or business that loans money is a what?

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Study for the 6th Grade Financial Literacy Test. Explore interactive quizzes and multiple-choice questions with insightful explanations. Prepare effectively today!

Multiple Choice

A person or business that loans money is a what?

Explanation:
When someone gives a loan, they are the one providing the money and expect it to be paid back with interest. That person or business is called a lender. The borrower is the person who receives the loan and must repay it. An investor puts money into something to earn a return, but not necessarily by issuing a loan to someone. A creditor is anyone to whom money is owed, which can include lenders, but the term that specifically describes the act of loaning money is lender.

When someone gives a loan, they are the one providing the money and expect it to be paid back with interest. That person or business is called a lender. The borrower is the person who receives the loan and must repay it. An investor puts money into something to earn a return, but not necessarily by issuing a loan to someone. A creditor is anyone to whom money is owed, which can include lenders, but the term that specifically describes the act of loaning money is lender.

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