Finance company

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Finance company

A company whose business and primary function is to make loans to individuals, while not receiving deposits like a bank.

Consumer Finance Company

A non-bank lender. A consumer finance company does not receive deposits, but does make loans to customers for business or personal use. It derives its profits from the interest on these loans. It is also called simply a finance company.
References in periodicals archive ?
Carlson continued, "The captive auto finance companies are supporting sales for the manufacturers, and dealers continue to work with independent auto finance companies to find the right loans for their customers, particularly in the non-prime space.
The Issue: If the insured declares bankruptcy, premium finance companies may have to return some of these payments to the debtor.
Among the nondepository institutions, finance companies are the most commonly used, accounting for about one in ten of all financial institutions used.
HH: In the past year we have welcomed three new input finance companies and are just adding two new equipment manufacturer programs in summer 2006.
On the other, banks and finance companies are reluctant to accept a large part of their receivables as collateral.
The report cites the data mainly from China Automotive Industry Association, and the official websites of automotive finance companies.
10 /PRNewswire/ -- In the report, Rating Guidelines for Commercial Finance Companies, released today, Fitch Investors Service guides readers through its approach to identifying and assessing the factors that impact the credit strength of a commercial finance company.
The top six premium finance companies represent roughly two-thirds of the total premium finance market; the top 10 premium financiers represent about 80% of the market, he said.
Small businesses can now use assets as collateral for business loans, from both banks and commercial finance companies.
Furthermore, Capri Capital's relationship with CharterMac is very attractive to us, as it will provide us with access to one of the most sophisticated real estate finance companies in the nation.
Through its purchase of contracts, the company provides indirect financing to car dealer customers with limited credit histories, low incomes or past credit problems, who generally would not be expected to qualify for financing provided by banks or by automobile manufacturers' captive finance companies.
This unique network will enable agents to quickly find the right financing terms across the vast number of finance companies and options available.