lending institutions

Lending institutions are organizations that provide funds to individuals or businesses with the agreement that the money will be repaid over time, usually with interest. Examples include banks, credit unions, and online lenders. They assess the borrower's ability to repay based on factors like credit history and income. These institutions support economic activity by facilitating borrowing for purchases like homes, cars, or to fund business operations, playing a vital role in financial systems. Their main goal is to manage risk while offering accessible credit to help fulfill financial needs.