Match the Source of Loan to Description

Source of Loan Answer Description Commercial banks A. These are nonprofit organizations whose loan interest rates are relatively low. Consumer finance companies These institutions are popular with those who have poor credit ratings, but offer only high interest rates whose maximums are state-regulated. Credit unions These institutions generally offer higher interest rates than many other types of institutions because the vendor of the item being financed arranges the financing and must be paid for that service. Loans from these institutions are in high demand but given only to those who are good credit risks. Using these institutions is essentially borrowing from oneself. Savings and loan associations Sales finance companies E. F. Life insurance companies These institutions mainly make mortgage loans. Source of Loan Answer Description Commercial banks A. These are nonprofit organizations whose loan interest rates are relatively low. Consumer finance companies These institutions are popular with those who have poor credit ratings, but offer only high interest rates whose maximums are state-regulated. Credit unions These institutions generally offer higher interest rates than many other types of institutions because the vendor of the item being financed arranges the financing and must be paid for that service. Loans from these institutions are in high demand but given only to those who are good credit risks. Using these institutions is essentially borrowing from oneself. Savings and loan associations Sales finance companies E. F. Life insurance companies These institutions mainly make mortgage loans