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Title: Regulated Loan Company / Branch License
Alternate Title:
Description: Regulated Loan Companies make consumer loans, up to $100,000, higher if capitalized, and are frequently referred to as finance companies. Minnesota Department of Commerce
Subject: Loans and Lenders
Creation Date: 2/15/2018 8:18:28 AM
Modification Date: 8/15/2024 3:54:22 PM
Agency Name: Commerce, Minnesota Department of
Agency URL: https://mn.gov/commerce/
Agency Description: The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.
Agency Phone: 651-539-1500
Agency Fax: Agency URL: https://mn.gov/commerce/
Agency Address:
85 7th Place East, Suite 500

St. Paul
MN
55101
Division Name: Financial Institutions Division
Division URL:
Division Description:
Division Phone: 651-539-1570
Division Fax: Division URL:
Audience: Hold Application URL:
Renewal URL:
Versa URL:
Requirements:

Review:

Regulated Loan Companies

Regulated Lenders

Apply 

Renewal
 

Licenses issued under Minn. Stat. Chapter 56 expire annually on December 31 and are renewable on January 1 of each year. Renewal notices will be sent to licensees at the email address provided on the Company MU1 in November of each year. 

The renewal fee is $250. 

Renewal is done through NMLS


Rules:
Statutes: 56

Forms:

Minnesota uses NMLS


Fees:

Total - $750 ($500 investigation fee, $250 license fee)

Renewal - $250


Period of Issuance:

January 1 to December 31.


Length of Determination: 30 days.
Other Info:
Activity: Loans (Non-Bank Lenders)
License Detail URL:

Regulated Lenders

Regulated Loan Companies

Financial Institutions

License Lookup Directory

Minnesota Department of Commerce

   


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