State and describe financial institutions.

 Salty Pawz was established using Wanda’s personal funds, since originally she sold her products only to friends and family and was able to pay for everything as she went along. Now that the business is growing, she knows she cannot finance the expansion out of her own pocket, so she is considering taking out a loan. She has no experience with financial institutions other than the basics such as managing her personal bank accounts, a credit card, a mortgage, and a car loan, all of which are with the local Credit Union.Explain to Wanda how the monetary system works. In particular, describe the various financial institutions she could approach to seek funding. CRITERIA NEEDED TO MEET….MUST MEET THE 3 BELOW      

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