The difference in meaning between these two words is so basic, I'm almost speechless when somebody — anybody — in a responsible position doesn't know the difference. It makes them sound so stupid. Even 7th graders know the difference.
Jack Lucking, VP Auto Sales for all Walser dealerships in Minnesota, this morning on WCCO Radio said, "This is such a nice car you will be happy to BORROW IT to your friends."
For those people who only understand sports analogies, the LENDER is like a football quarterback; he lends something to somebody else. The BORROWER is like a wide receiver; he borrows/receives something from the lender. That is, he catches the ball that the quarterback has thrown.