Loro mi prestano il coltello ==> They lend me the knife
what is the action/verb?
prestano = (they) lend/loan, verb
who does the action?
Loro = they, subject
what/who does the subject action (what do they lend/loan) ?
il coltello = the knife, direct object
to whom/what does the subject action the direct object (to whom do they lend/loan the knife) ?
mi = (to) me, indirect object.
They to me lend/loan the knife ==> They lend me the knife or They lend the knife to me
Unfortunately, as I reported, "they lend me" is not actually correct English. The Italian present tense also implies the near future. In English we'd say "They'll/they will lend me the knife." The future tense in Italian would be used for a more definite reference to action in the future.
The "give" meaning is mostly found in some idioms like "prestare aiuto" (give help, or simply help), "prestare servizio" (give service, or simply serve), "prestare attenzione" ("pay" attention), "prestare orecchio" ("lend" an ear); in the last two examples English gets pretty idiomatic too.
WHY DOES THE PROGRAM NOT LAST LONG ENOUGH FOR US TO RECORD? I GET MANY INCORRECT BECAUSE IT DOES NOT WORK PROPERLY! GET BETTER PROGRAMMERS, AS WHEN I CLICK ON THE MICROPHOE, THEN HIT THE RECORDING ALONGSIDE OF IT IT STILL GETS IT WRONG! YOU ARE FREE, I UNDERSTAND, BUT YOU SHOULD BE FAIR!
Two problems: one about meaning and one about grammar.
First, "borrow" and "lend" have opposite meanings:
"Marco lends X" - Marco gives X to someone. "Marco borrows X" - Someone gives X to Marco.
Second, "borrow" isn't used that way in English. In "They lend me the knife," "me" is an indirect object because it could be replaced by "to me" ("They lend the knife to me."). "Me" doesn't refer to the item that's changing hands.
In English, you can say "borrow from" - "Marco borrows the spoon from Paolo" (and now Marco has the spoon) but you cannot say "borrow to." Also, although you can eliminate the "to" from "Marco lends the fork to Lisa" and turn it into "Marco lends Lisa the fork," you cannot do the same thing with "borrow from" - "Marco borrows Paolo the spoon" is ungrammatical.