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Borrower Meaning: Definition, Examples, and Translations

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borrower

[ˈbɒrəʊər ]

Definitions

Context #1 | Noun

finance

A person or organization that takes money from a bank or other financial institution with the agreement that they will pay it back within a certain period, usually with interest.

Synonyms

debtor, mortgagor, obligor.

Which Synonym Should You Choose?

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Word Description / Examples
borrower

Use when referring to someone who has taken something, typically money, from another party with the intention of returning it, often within a certain period and usually involving an agreement.

  • The borrower agreed to repay the loan within five years.
debtor

Refer to someone who owes money to another party. This term tends to have a more formal or legal tone and is often used in financial contexts.

  • The debtor struggled to make the required payments on time.
mortgagor

This term is specific to someone who has taken out a mortgage loan. It refers to the individual or entity that has pledged property as security for the loan.

  • As the mortgagor, she was responsible for making monthly payments to the bank.
obligor

Use in formal, legal, or financial situations to describe someone who has a legal obligation to pay a debt or fulfill an obligation.

  • In the contract, the obligor was required to make regular payments until the debt was fully repaid.

Examples of usage

  • The borrower failed to make the monthly payments on time.
  • The bank approved the loan application from the borrower.
Context #2 | Noun

library

A person who takes books or other materials to read or use from a library, with the understanding that they will be returned.

Synonyms

book borrower, library user, reader.

Which Synonym Should You Choose?

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Word Description / Examples
borrower

A person who takes something, usually money or items, with the intention of returning it.

  • John is a reliable borrower who always returns the things he borrows on time.
  • The bank requires borrowers to provide collateral for large loans.
reader

Anyone who engages in reading, whether it's books, articles, or other forms of written content. This word does not imply borrowing.

  • Elena is an avid reader who enjoys novels, magazines, and online blogs.
  • As a child, James was a dedicated reader, always with his nose in a book.
library user

A person who visits and uses the resources provided by a library, which may include borrowing books, using computers, or attending events.

  • As a dedicated library user, Michael attends the weekly book club meetings and often uses the study rooms.
  • Library users now have access to a wide range of digital resources and online databases.
book borrower

A person who specifically borrows books, typically from a library.

  • Alice is an avid book borrower; she's always reading something new from the library.
  • The library has a register to keep track of book borrowers and the books they take out.

Examples of usage

  • The library has a strict policy for borrowers regarding overdue books.
  • As a frequent borrower, she enjoys exploring different genres.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Economics

  • Borrowers are crucial in driving the economy, as loans help individuals and businesses invest in growth.
  • In many countries, borrowing can be a part of a healthy financial strategy, but it comes with the responsibility of repayment.
  • Mortgage lending, a common form of borrowing for buying homes, constitutes a significant portion of personal debt in the U.S.

Literature

  • In Charles Dickens' 'A Christmas Carol', Scrooge represents a harsh view on borrowing and lending, which contrasts with modern perspectives on community support.
  • The character of a borrower can symbolize hope and potential redemption in various stories, showing how borrowing can lead to change.
  • Shakespeare occasionally touched on themes of borrowing in his plays, linking it to morality and the consequences of one's actions.

Cultural Perspectives

  • In many cultures, borrowing has deep social implications, often viewed as a matter of trust and friendship.
  • Modern sharing economies, like libraries or car-sharing services, reflect a shift toward community borrowing rather than individual ownership.
  • Different cultures have unique norms around borrowing, affecting how it's perceived and practiced among people.

Psychology

  • The act of borrowing can create feelings of indebtedness, influencing interpersonal relationships and social dynamics.
  • Research indicates that people often attach emotional significance to borrowed items, leading to care and responsibility in their use.
  • Understanding the psychology behind borrowing can help in developing better lending systems that promote mutual support.

Origin of 'borrower'

Main points about word origin

  • The term 'borrower' originated from the Old English word 'borrowan', which means to receive a loan.
  • The concept of borrowing dates back thousands of years, with evidence in ancient Mesopotamia where writing was first used for financial transactions.
  • In various languages, the roots of similar terms also connect to themes of exchange and trust.

The word 'borrower' originated from the Old English word 'borgan', which means 'to borrow'. The concept of borrowing money or items has been around for centuries, with various forms of lending and borrowing seen throughout history. In modern times, borrowing plays a crucial role in finance, economics, and everyday transactions.

See also: borrow, borrowing.

Word Frequency Rank

Position #8,071 indicates this is an advanced-level word. While not essential for basic communication, it will enhance your ability to understand and create more nuanced content.