Explain the difference between borrowing and lending?

Here's the difference between borrowing and lending:

• Borrowing is when an individual or entity receives money or assets from another party with the agreement to repay it, usually with interest, at a later date. The borrower is the one who owes.
• Lending is when an individual or entity gives money or assets to another party with the expectation that it will be repaid, typically with interest, by a specific time. The lender is the one who is owed.