Can t wait for payday 87



Learn how to obtian a enterprise license to function a payday loan business in Louisiana.

From Louisiana, the Office regarding Monetary Institutions regulates payday lenders. If you are planning on starting any new payday allowance business, following you register your business for the Louisiana Secretary regarding State, you subsequently boast to apply to the license that is allows you to run this type of financial business on the state.

Difficulty: Moderately Challenging

Directions

Things You'll Need

Registered business entity with the express Cash or funds order

2 Fill outside the Uniform Application. This contains completing the entire name also address to the payday allowance small business, phone number, the type regarding organization entity such since a corporation or LLC and make contact with info with the registered agent or principal speak to with the payday loan organization.

3 Make fingerprinted by a local law enforcement agency station. Call or visit your local Louisiana State Police station to get fingerprinted. Obtain dual full fingerprint cards, which you need to submit along with the Uniform application. Proprietors, directors and officials of the payday loan business must all submit two fingerprint cards with the application. The fee for fingerprints is $45.25 as of 2010.

4 Complete the Application Affidavit from front of a notary and need the style notarized. This form remains part of the Uniform Application packet. Payday Loans.

6 Request a letter of credit from the bank where the business account yous. The express about Louisiana requires payday lenders to have $25,000 regarding money in the business account or some series of credit for at least $25,000. Your business deposit need to provide you with some letter that is verifies you have the cash on the bank or one available line regarding credit to at least the $25,000.

7 Submit the application plus supporting documents to the Office about Financial Schools. You can submit the complete package in-person to Office of Financial Schools, 8660 United Piazza Boulevard, 2nd Floor, Rod Rouge, LA 70809 or by mail to Office of Financial Establishments, PO Box 94095, Baton Rouge, LA70804-9095.

8 Shell out the application fee. The charge remains payable in cash or a money order made payable to the Workplace of Financial Institutions. Since of 2010, the application fee is non-refundable and $550. If you mail the application, achieve not send cash although rather include a money order.

References

Workplace of Financial Colleges: Louisiana

Photo Credit hint. loan sale image by way of L. Shat away from website ;

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