Do private Lenders have to be licensed to lend money?
Do private Lenders have to be licensed to lend money?
Chris Seveney
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- Investor
- Virginia
Quote from @LaTonya N Thompson:
Do private Lenders have to be licensed to lend money?
Typically no, but its a state by state issue. I believe California does require one, but not 100% sure. It also depends on who and what you are lending too. I ask my attorney in that state to confirm whether or not we need to be licensed. Its always best to listen to your attorney.
