finance company

finance company

noun

: a company that makes small loans to people

Full Definition of FINANCE COMPANY

:  a company that makes usually small short-term loans usually to individuals

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First Known Use of FINANCE COMPANY

circa 1924

finance company

noun    (Concise Encyclopedia)

Specialized financial institution that supplies credit for the purchase of consumer goods and services. Finance companies purchase unpaid customer accounts at a discount from merchants and collect payments due from customers. They also grant small loans directly to consumers at a relatively high rate of interest.