finance company


finance company
Non-bank company that makes loans to individuals and businesses. Its capital comes from banks and other financial institutions and money markets-rather than from deposits. The primary types of finance companies are: consumer (or small loan) finance companies; sales finance (acceptance) companies, that purchase installment financing paper from e.g. automobile dealers; and, commercial finance or credit companies that make loans to manufacturers and wholesalers

Black's law dictionary. . 1990.