Meaning of the word "finance company" in English

What does "finance company" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

finance company

US /ˈfaɪ.næns ˌkʌm.pə.ni/
UK /ˈfaɪ.næns ˌkʌm.pə.ni/
"finance company" picture

Noun

1.

a company that makes loans to individuals and businesses, often at higher interest rates than banks, and typically does not accept deposits

Example:
He got a car loan from a finance company.
Many small businesses rely on finance companies for capital.
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