Loan Waiver

A loan waiver refers to the intentional decision made by a lender to cancel all or part of the outstanding debt owed by a borrower. This action is typically taken under specific situations, such as financial hardship or inability to repay the loan.

Loan waivers can be initiated by the lender voluntarily or as part of a government program aimed at reducing the financial burden for certain borrowers, such as farmers or small businesses.