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Some companies offering loans are brokers for banks and institutional lenders. People who use a broker to get loans may get competing loan packages from lenders wanting their business. People getting loans through brokers can then select from the offers that the lenders have made. People use loans for a variety of purchases, such as to purchase new automobiles, make home improvements, to consolidate debt and sometimes to purchase investment properties. Credit unions, savings and loans, and banks are common sources of money for loans. Lenders provide the loans as a source of income for them which they get by collecting interest payments.
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