A financial corporation that specializes in financing installment purchases made by individuals and firms is called a

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A sales finance company specializes in financing installment purchases made by individuals and firms. They typically work with retailers or manufacturers to offer installment financing options to customers who may not have the ability to pay up front for a large purchase. Consumer finance companies focus on providing personal loans to individuals, while factoring companies purchase accounts receivable from businesses. Credit unions offer banking services to a specific group of people, often with a focus on providing lower interest rates and fees than traditional banks. Commercial finance companies provide a range of financial services to businesses, including loans, equipment leasing, and asset-based lending.

A Financial Corporation That Specializes in Financing Installment Purchases Made