Answer:
A Non-Bank Financial Institution (NBFI)
Explanation:
A Non-Bank Financial Institution (NBFI) can be described as any institution without full banking license but offers loans and other financial services.
They are able to provide low cost loans due to the fact that they are privately owned and operated by individuals, as a result of this, they're mostly used by small and medium-sized enterprise.
A Non-Bank Financial Institution (NBFI) includes;
- Insurance companies.
- Pension funds.
- Pawn shops.
- Thrift or mutual credit societies.
- Credit unions.