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finance company

   Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson 0.10 sec.

finance company

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.



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Jeffrey Gould, president and chief executive officer of BRT said, "We are extremely pleased to enter into this relationship with such a highly regarded and successful commercial and consumer finance company.
Initially foreign Islamic banks have formed partnerships with Turkish investors and created joint companies of Al Baraka Turkish Special Finance Company, Faisal Finance Company and Kuwait Turkish Evkaf Finance Company.
Setting up a joint venture between a manufacturer and a finance company can be a real boon for a company with large volumes of receivables weighing down its balance sheet.
 
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