Licensed Lender

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Banking Department State
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.


For more information, contact:

NYS Department of Financial Services (DFS)
Licensed Financial Services
One State Street
New York, NY 10004-1417
Phone: (212) 709-5507
Website: http://www.dfs.ny.gov/

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