Financial Definitions

Bank

Bank

Picture Modern banks provide many services   Bank is a financial firm that accepts people’s deposits and uses them to make loans and investments. People keep their savings in banks for several reasons. Funds are generally safer in a bank than elsewhere. A debit card or an account that permits…

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Finance Company

Finance Company

Finance company is a firm that loans money. Finance companies make loans to merchants and manufacturers. These companies also make loans to people. Borrowers agree to repay the loan with interest in a specified period of time. Borrowers must offer some guarantee that they will repay the loan. For example,…

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