I make a list of objects on the board and ask students if they would be prepared to lend them to someone special, to someone they don't know very well, or if they wouldn't ever lend the object to anyone. Give reasons.
Your toothbrush Your umbrella A book you read and loved Your mobile phone Your car Your boyfriend (joke!) Your notes on a topic for exam preparation (they are the result of many hours of hard work!) Your camera Your favourite outfit
I use "would you...?" and "can I...?" questions. Students are asked to complete the structure using borrow and lend + noun, then take turns using the structures with a partner. After this, I get students to generate the rule for using "borrow" and "lend"; i.e. borrow - to take, lend - to give.