Licensed Lender

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This license lets lenders charge interest rates higher than those normally permitted by law.

According to state law, businesses cannot make loans of $25,000 or less to people or $50,000 or less to businesses with an interest rate above 16 percent. Only licensed lenders can charge higher interest rates.

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Additional Resources
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NYS DFS Licensed Lenders Information Page
NYS Department of Financial Services (DFS)
Licensed Financial Services
One State Street
New York
NY
10004-1417
http://www.dfs.ny.gov/
(212) 709-5507
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