This license allows lenders to charge interest rates above those permitted by law.
State law prohibits businesses from making loans of $25,000 or less to individuals or $50,000 or less to businesses with an interest rate above 16%. Higher interest rates may only be given by licensed lenders.
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The City has tried to provide you with correct information on this website. While every effort has been made to ensure that the information provided is accurate and up-to-date, errors are still possible. The information provided is not legal advice. You may need additional information to meet the legal requirements for starting or operating your business.
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