Sort of. Nobody can spend

Sort of. Nobody can spend what they don't have, whether their own or borrowed. Businesses including banks can't either. But of course there are differences between you and a bank. A bank aims to make a profit and practises double entry book-keeping.A bank's profit comes from the interest it charges (not all of it but what's left after it has paid its expenses including staff wages and interest on any money it has itself borrowed).Double entry book-keeping means that when a bank (or any business) acquires an asset or a liability this must be balanced, in the accounts, by a corresponding liability or asset. Thus, when a bank makes a loan this liability has to balanced by a corresponding entry in the asset column (the borrower's IOU to repay the loan). But nothing new has been created. This is just an accounting convention. That's all that the famous "stroke of a pen", or these days keyboard stroke, does.A better example would be if you were a moneylender, i.e if like a bank you lend money but your own money. You could even practise double entry book-keeping. But you would not be able to lend more money than you had. You could try but you would soon come unstuck and find yourself unable to honour a promise to pay someone money. The difference between a bank and moneylender is only that a bank is lending other people's money.Banks are essentially financial intermediaries, borrowing money at one rate of interest and relending it at a higher rate. Their economic role under capitalism is the useful one for capitalism of making available for investment and other spending purchasing power that would otherwise remain dormant.