Lent was approaching (8)
I believe the answer is:
advanced
I believe this clue is a double definition.
'lent' is the first definition.
(advancing is a kind of lending)
'was approaching' is the second definition.
(I've seen this before)
(Other definitions for advanced that I've seen before include "Far on in progress or life" , "Submitted" , "was approaching" , "Complex; very modern" , "not for a beginner" .)