The term "multiple lenders" refers to a situation where there are two or more different financial institutions, companies or individuals that provide loans or credit to someone. This means that instead of borrowing from just one source, an individual or business has access to funds from multiple sources at the same time. Having multiple lenders can be beneficial for both parties as it allows for greater flexibility and options in terms of interest rates, repayment schedules, and loan amounts. It also reduces the risk of relying on a single source of credit, which could potentially fail or go bankrupt, leaving the borrower without any funds to continue their operations.