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Industrial Bank (Noun)

Meaning

A finance company that makes small loans to industrial workers.

Classification

Nouns denoting groupings of people or objects.

Examples

  • An industrial bank focused on providing loans to workers who could not secure credit from mainstream lenders.
  • In 1910, Morris and his colleagues established the first industrial bank in the United States with the goal of making finance more accessible.
  • Industrial banks catered to workers by offering small cash loans at relatively high interest rates to meet their short-term needs.
  • Drexel joined the board of directors of an industrial bank established specifically to cater to the growing demand for small loans among industrial workers.
  • At its core, the industrial bank's mission was to help low-wage workers manage emergencies by granting them affordable access to credit.

Synonyms

  • Industrial Loan Company

Hypernyms

  • Small Loan Company
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