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Finance companies are established for the exclusive purpose of offering their customers loans.

Finance companies are established for the exclusive purpose of offering their customers loans.

What are finance companies?

finance company, specialized financial institution that supplies credit for the purchase of consumer goods and services by purchasing the time-sales contracts of merchants or by granting small loans directly to consumers.

What is customer loans?

In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed.

What is a loan?

A loan is when money is given to another party in exchange for repayment of the loan principal amount plus interest. Loan terms are agreed to by each party before any money is advanced. A loan may be secured by collateral such as a mortgage or it may be unsecured such as a credit card.

To learn more about Finance companies and customers loans refer

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