Credit

Credit is the provision of resources (such as granting a loan) by one party to another party where that second party does not immediately pay the first party for the resources in full, thereby generating a debt, and instead arranges either to pay for or to return those resources (or equivalent value) at a later date. The first party is called a creditor, also known as a lender. The second party is called a debtor, also known as a borrower.