Lending Institution (Noun)
Meaning
A financial institution that makes loans.
Classification
Nouns denoting groupings of people or objects.
Examples
- The bank is a prominent lending institution in the country, providing personal and business loans to its customers.
- A lending institution will typically require a credit check before approving a loan application.
- The interest rates offered by different lending institutions can vary significantly, making it worthwhile to shop around.
- To increase its competitiveness, the lending institution began offering lower fees and more flexible repayment terms.
- Before selecting a lending institution, borrowers should carefully review the terms and conditions of the loan agreement.