Liberal drinks, loses head and uses borrowed money to pay for company (9)

'uses borrowed money to pay for company' is the definition.

'liberal drinks loses head' is the wordplay.
'liberal' becomes 'l' (abbreviation).
'drinks' becomes 'beverages' ('beverage' can be a synonym of 'drink').
'loses head' means to remove the first letter.
'beverages' with its initial letter taken away is 'everages'.
'l'+'everages'='LEVERAGES'

'and' acts as a link.