borrower

borrower definition - business

borrower

An individual or organization that owes money to another individual or organization that has served as a lender. The borrower is generally required to make periodic interest payments and, on a specified date, repay the outstanding principal.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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