👉 The term "lirate" is a loan that is repaid in part or all by the borrower, often with interest. It's an example of a loan arrangement where the lender provides financial assistance to the borrower, usually as collateral, and the borrower agrees to repay the amount borrowed according to a schedule. This type of loan can be useful for borrowers who need funds but may not have access to traditional forms of credit, such as payday loans or credit card debts.
