Lender of last resort

A lender of last resort is someone that offers loans to people who are in financial trouble. Basically, it's a person or organization (like a bank or government) that's willing to lend money to people who don't have many options left. It's like a safety net for people who are in serious financial trouble. Because the lender of last resort is usually the last option for people, it usually comes with higher interest rates and stricter rules so that it's more likely that the loan will be paid back. In some cases, governments will step in and act as a lender of last resort to help prevent people from completely losing their homes or businesses.