If you hold your savings in the form of a nominal asset (other than cash), you are a: lender
Who is a lender, exactly?
- A lender is anyone who makes money accessible to a person or business with the idea that they will pay them back, whether they are an individual, a public or private organization, or a financial institution.
- Payment of any interest or fees is considered repayment.
- Lenders are people, organizations, or establishments who permit you to borrow money for a predetermined length of time and pay interest on it.
- They can take many different shapes, including those of banks, credit unions, close friends, and professional organizations.
- A loan is the lending of money by one or more people, businesses, or other entities to other people, businesses, or other entities.
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