Information and Resources for Licensed Lenders
As stated in Section 340 of the Banking Law, “No person or other entity shall engage in the business of making loans in the principle amount of twenty-five thousand dollars or less for any loan to an individual for personal, family, household, or investment purposes and in a principal amount of fifty thousand dollars or less for business and commercial loans, and charge, contract for, or receive a greater rate of interest than the lender would be permitted by law to charge if he were not a licensee here under except as authorized by this article and without first obtaining a license from the superintendent.”
For licensing requirements see Article 9 of the Banking Law, sections 340 to 361, Superintendent's Regulations Parts 401, 407 and 300 and Penal Law Section 190.42.
The New York State Department of Financial Services (DFS) uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage license applications and ongoing regulation.
The following forms are in PDF format.