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commercial lending without a license (1 viewing) (1) Guest
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TOPIC: commercial lending without a license
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tbm1231 (User)
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commercial lending without a license 2 Months, 3 Weeks ago Karma: 0  
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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Mark (User)
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Re:commercial lending without a license 1 Month, 4 Weeks ago Karma: 3  
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.
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norton (Moderator)
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Re:commercial lending without a license 1 Month, 3 Weeks ago Karma: 0  
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.
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