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The phrase "aforementioned borrowers" is correct and usable in written English.
It can be used when referring back to borrowers that have already been mentioned in the text.
Example: "The terms of the loan will be adjusted for the aforementioned borrowers based on their credit history."
Alternatives: "previously mentioned borrowers" or "those borrowers mentioned earlier".
Exact(3)
These companies sold people mortgages, gave them credit lines, and encouraged small businesses to borrow money; none of which any of the aforementioned borrowers could afford.
The aforementioned borrowers.
And since bank lending has not 'normalized' yet, a shadow lending system for the aforementioned borrowers has emerged, most often at onerous rates, starting at 8percentt.
Similar(55)
In this circumstance, the aforementioned borrower with $200,000 in debt at 7%, sees an effective interest rate of about 5.53%.
Subsequently, FIs also acknowledge aforesaid borrowers' recommendations.
The Consumer Financial Protection Bureau and the United States Department of Justice have entered into a settlement with the aforementioned National City Bank, which established a $35 million fund to pay African-American and Hispanic borrowers identified by the government agencies as having overpaid.
"The Borrowers".
Take the aforementioned gull.
All of the aforementioned?
(See aforementioned racial divide).
The aforementioned Ronald Lee Moore.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com