Results 1 to 11 of 11
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02-26-2018, 06:39 PM #1
- Join Date
- Dec 2015
- Posts
- 55
Which lenders require a California Finance Lenders Law License
I know which ones do not require it... but does anyone know which lenders DO require that you have a CFL license in order to submit a California merchant to them?
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02-26-2018, 10:30 PM #2
- Join Date
- Dec 2016
- Posts
- 37
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03-06-2018, 03:43 PM #3
- Join Date
- Jun 2016
- Location
- Brooklyn
- Posts
- 54
Snap
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03-07-2018, 07:15 AM #4
- Join Date
- Feb 2018
- Location
- San Diego, CA
- Posts
- 103
biz2credit
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03-09-2018, 11:47 AM #5
- Join Date
- Dec 2015
- Posts
- 55
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03-09-2018, 11:52 AM #6
Its not a matter of what lenders, but if you are caught engaging in the practice of soliciting, brokering etc and dont have a license, you could be subject to a large fine.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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03-09-2018, 12:11 PM #7Karen37aGuest
Contact the Direct Funders for their specific rules Or a Super Iso/iso who has the ability to go to calif for more instructions.
(you will be required to provide a copy of their California finance broker license. A California business is any business located in California where financing is being requested for the California location. The California licensing requirement also applies to referring partners located outside of California.
Please note: This requirement will not apply to referrals of merchant cash advances.
http://www.amlicensing.com/californi...ge-license.asp)
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06-21-2018, 09:27 AM #8
Who doesn’t require a license?
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06-21-2018, 10:18 AM #9
- Join Date
- Feb 2017
- Posts
- 3,463
This is the funders that do NOT require:
http://dailyfunder.com/showthread.ph...hout-a-license
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06-21-2018, 12:18 PM #10
IOU Central
Rapid Advance
Kalamata
National Funding
QuarterSpotJonathan Kohanoff
B.R.E. #01962090
Diamond Business Loans
Beverly Hills, CA 90211
jon@diamondbl.com
www.DiamondBL.com
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06-21-2018, 03:10 PM #11
- Join Date
- Feb 2018
- Posts
- 1,349
If you are based in California, and, sell loans to customer's in CA, you have to be licensed. if you are selling purchase/sale contracts (mcas), my understanding is that does not qualify as a loan and you do not have to be licensed. we spoke to a few attorneys about this. anyone know different? "loans" is the keyword here.
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06-21-2018, 04:08 PM #12
- Join Date
- Oct 2016
- Posts
- 4,318
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06-25-2018, 04:11 PM #13
- Join Date
- Jan 2016
- Posts
- 20
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06-25-2018, 04:12 PM #14
- Join Date
- Jan 2016
- Posts
- 20
Also BlueVine.
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