FINANCE COMPANY

finance company.A nonbank company that deals in loans either by making them or by

purchasing notes from another company that makes the loans directly to borrowers.

commercial finance company.A finance company that makes loans to manufacturers and

wholesalers. — Also termed commercial credit company.

consumer finance company.A finance company that deals directly with consumers in

extending credit. — Also termed small-loan company. [Cases: Consumer Credit 3. C.J.S.

Interest and Usury; Consumer Credit§§ 280–293, 306.]

sales finance company.A finance company that does not deal directly with consumers but

instead purchases consumer installment paper arising from the sale of consumer durables “on

time.” — Also termed acceptance company.[Blacks Law 8th]