Crossword Genius

Give props to old Republican money lender (8)

Ross

I believe the answer is:

creditor

I'm a little stuck... Click here to teach me more about this clue!

'money lender' is the definition.
'creditor' can be an answer for 'lender' (creditor is a kind of lender). I am not sure about the 'money' bit.

'give props to old republican' is the wordplay.
'give props' becomes 'credit' (I am not sure about this - if you are sure you should believe this answer much more).
'to old' becomes 'o' (common abbreviation eg in OE for Old English).
'republican' becomes 'r' (abbreviation).
'credit'+'o'+'r'='CREDITOR'

Can you help me to learn more?

(Other definitions for creditor that I've seen before include "The one to whom debt is due" , "Person to whom money isowed" , "one to whom money is due" , "Director (anag)" , "Lender" .)

I've seen this clue in The Independent.
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