This is the 5594th most frequent Spanish word.
prestado
"Prestado" means "lent" or "borrowed" in English.
Here, 'prestaron' is the third person plural past form of 'prestar', meaning 'to lend'. It demonstrates someone lending something to the speaker.
Me prestaron un libro interesante.
They lent me an interesting book.
In this sentence, 'prestado' is used as an adjective indicating the borrowed state of the pencil.
Este lápiz está prestado, así que te lo debo devolver pronto.
This pencil is borrowed, so I must return it to you soon.
Here, 'prestado' is part of the phrase 'pedir algo prestado', which means 'to borrow something'. It complements the verb 'pedir' in this expression.