First Finance Company

The specific banking products that can be offered by NBFCs depends on the jurisdiction, and may include services such as loans and credit facilities, savings products, investments and money transfer services In some jurisdictions, such as New Zealand, any company can engage in banking business, except they are not allowed to use the word bank in their name. The paid-up capital of a finance company should not be less than dirham thirty five million and national shareholding should not be less than 60{606b15cb8282e5ec3580d0e72c193589ece6551be175750a8e347f0d91362e12} of total paid-up capital, without prejudice to provisions of Federal Law No. 8 of 1984 and any subsequent amendments thereto.Finance CompaniesFinance Companies

If you happen to default on the loan, it will be much easier for the finance company to sell your old and new dump trucks (yes they get both if you don’t pay them back) to someone else than it will be to sell a commercial freezer (not good collateral for a collateral loan because it doesn’t hold a high re-sale value).

Due to the size and scale of their operations, the captive finance companies of the Big Three car manufacturers: General Motors Acceptance Corporation (GMAC), Chrysler Financial and Ford Motor Credit Company ‘ are arguably almost as well-known as their parent companies.

These companies care only about the value of the equipment they are financing not about the company they are lending the money to. Many businesses, after having been turned down for traditional financing, will turn to a leasing company as an alternative.

I. Asset Finance Company(AFC): An AFC is a company which is carrying the principal business of financing of physical assets such as automobiles, tractors, lathe machines, generator sets, earth moving and material handling equipments, moving on own power and general purpose industrial machines.Finance Companies