Finance Companies

Singapore Statutes Online

Finance CompaniesFinance firm is a corporation that originates loans for both businesses and consumers. Much like a bank , a typical finance company acts as a lending entity by extending credit score. However, the primary distinction between a bank and a finance company is that, not like a bank, a finance firm doesn’t accept deposits from the general public. Instead, a finance company could draw funding from banks and various different cash market resources. A finance company may extend credit to people for numerous client purchases, as well as to firms for industrial use. A finance firm might also concentrate on providing financing for quite a lot of installment plan gross sales. A finance firm might also be affiliated with a producing agency or a holding company.

unsecured advance”, unsecured mortgage” or unsecured credit score facility” means any advance, loan or credit facility given without security, or in respect of any … Read more