Legal Definitions - institutional lender

Definition: An institutional lender is a business, typically a bank, that regularly provides loans to the public.

Example: Bank of America is an institutional lender that offers various types of loans, such as personal loans, auto loans, and mortgages.

Explanation: Institutional lenders are financial institutions that have the resources and expertise to provide loans to individuals and businesses. They have a standardized process for evaluating loan applications and determining the interest rates and terms of the loan. Bank of America is an example of an institutional lender because it is a large bank that offers a wide range of loan products to the public.