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Licensed Lender

About

State Banking Department

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.


NYS Department of Financial Services (DFS)

Address
Licensed Financial Services
One State Street
New York, NY 10004-1417
Phone (212) 709-5507
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