Licensing

Lending and Credit Licensing

Identify applicable state licensing and registration requirements for lending, loan brokerage, servicing, collections, sales finance, and emerging credit products.

Schedule a Call

How we work through it

ModelMap who makes the loan, who funds it, who services it, and who the borrower is. In a bank partnership, map which role is yours.
MapMatch each activity to the licenses or registrations each state may require, test exemptions, and set the order to apply in.
PreparationBusiness plan, financials, surety bonds, background checks, loan documents, and policies.
SubmissionState applications through NMLS or the state's own system, then regulator questions until a decision.
MaintenanceRenewals, annual reports, branch and change-of-control filings, and exam preparation.

What we assess and support

Common lending and credit regulatory categories. Applicability and filing obligations vary by jurisdiction and business model.

Consumer lender license

Making consumer loans, including installment and small-dollar loans. Names and thresholds differ by state.

Sales finance license

Buying or holding retail installment contracts. Some states apply it to buy now, pay later.

Loan broker license

Arranging or marketing loans made by another lender, including a bank partner. Required in many states, not all.

Loan servicer license

Collecting payments on loans after they are made. Required in some states, often depending on the loan type.

Collection agency license

Collecting debts owed to someone else. Required in many states.

Commercial financing

Licenses in some states, registration or disclosure rules in others, and no specific regime in many.

Earned wage access

State treatment varies and is still changing: some states license or register providers, others do not.

What the license expects of you

Regulators review the program behind a license application, and examine it afterward. We help build it through our compliance service.

Compliance management system
Rate, fee, and disclosure controls by state
Fair lending and adverse action procedures
Servicing, collections, and complaint handling
Oversight of your bank partner's program requirements

Who regulates what

State regulatorsMost nonbank lending is licensed at state level, under each state's own law, rate and fee limits, and exemptions.

NMLSThe system most states use for lending license applications and renewals. The state agency makes the licensing decision.

Federal lawTruth in Lending, fair lending, credit reporting, and debt collection rules apply alongside state licensing, with federal supervision for some nonbanks. Banks lend under their charters.

Who it's for

Consumer and small-business lenders, buy now, pay later providers, marketplace and bank-partner platforms, servicers, collectors, and earned wage access providers.

Back to all licenses →

Let's discuss your regulatory needs.

Tell us about your business, product, or licensing challenge. We'll review your inquiry and discuss the appropriate next steps.

Schedule a Call