What do I need is I wanted to borrow money from private investors

[Khoa Ha]

Hi BP,

I have this idea but I am not sure if it is possible or require any license or not. Let say that the current mortgage rate right now is 4%. If I have a group of friends that are willing to lend me their money in exchange for a 3% interest do I need any kind of license to be able to borrow money like this? I currently live in California. I have tried to search for it online but do not know what term to use to yield relevant result. 

Thanks,

KH