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Topic History of: commercial lending without a license
Max. showing the last posts - (Last post first)
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norton Most states require that you are licenses to accept a commission on a commercial loan. You also have to becareful if you are operating without a charter because whatever instrument you are selling and trying to collect a commission on your a sum of money to invest may be deemed a security that would have to be registered under a state's blue sky laws. It is a very tricky and complicated area of law.
Mark state law governs commercial loans. As long as client didnt write the loan he is not governed by the commercial loan law. He can consult someone, but he cant take a commission. Only licensed persons can take a commission on a commercial loan.
tbm1231 Anyone familiar with commercial lending laws? Client claims he helped facilitate a commercial loan. There is an investigation as to whether he held a license in CA to do so. What are the penalties for consulting a commercial loan without a license?
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