California Occupational License

License Title:
    California Finance Lender Law
Return to Occupation Profile
Licensing Agency:
     Department of Business Oversight
     Division of Corporations
     Mortgage Lending Unit

Licensing Agency Contact Information:
     Address: 320 West Fourth Street, Suite 750
Los Angeles,  CA  90013

     Phone Number: (866) 275-2677
     Fax Number: (213) 576-7574

     E-mail Address:
     Internet Address:

License Requirements, Fees, and Examination Information:
A finance lender is defined in the law as "any person who is engaged in the business of making consumer loans or making commercial loans." A finance lenders license provides the licensee with an exemption from the usury provision of the California Constitution.
The California Finance Lenders Law is contained in Division 9 of the California Financial Code, commencing with Section 22000. Effective July 1, 1995, the Personal Property Brokers Law, Consumer Finance Lenders Law, and Commercial Finance Lenders Law were consolidated without substantive change into the California Finance Lenders Law (AB 2885, Chapter 1115, Stats. 1994). The regulations under the California Finance Lenders Law are contained in Chapter 3, Title 10 of the California Code of Regulations, commencing with Section 1404 (10 C.C.R. ยง1404, et seq.).

Licensed under the law are individuals, partnerships, associations, limited liability companies and corporations. There are a number of "non-loan" transactions, such as bona fide leases, automobile sales finance contracts (Rees-Levering Motor Vehicle Sales and Finance Act) and retail installment sales (Unruh Act), that are not subject to the provisions of the California Finance Lenders Law.

In addition to the lending authority provided by the law, the California Finance Lenders Law provides limited brokering authority. A "broker" is defined in the law as "any person engaged in the business of negotiating or performing any act as broker in connection with loans made by a finance lender." Brokers licensed under this law may only broker loans to lenders that hold a California Finance Lenders license.

1. Fees: Application: $200.00 application fee $100.00 investigation fee for a total of $300.00. Fees are not refundable.

2. Regulatory Examination Frequency: Approximately once every three years.

3. Experience Requirement: None

4. Average Time to Process Application: 120 days.

5. Renewal Period: License is in effect until surrendered.
Occupations To Which This License Applies:
Occupation TitleSOC Code
Loan Officers 132072
Financial Specialists, All Other 132099