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Finance company

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Finance company
A company which provides loans to customers, usually at higher Interest rates than banks, building societies and credit unions is a finance company.
    
An Institution that uses its funds chiefly to purchase financial assets (deposits, loans, securities) as opposed to tangible property. Financial institutions can be classified according to the nature of the principal claims they issue: non-Deposit intermediaries include, among others, life and property/casualty insurance companies and pension funds, whose claims are the policies they sell, or the promise to provide income after retirement; depository intermediaries obtain funds mainly by accepting deposits from the public. See also Bank, Savings Bank.
Posted by  LISA Life Insurance Settlement Association
 
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