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Consumer finance

Installment loans licensing

Companies that offer loans of $50,000 or less must get an Oregon consumer finance license from the division. This applies to loans for personal, household, or educational use. Assignments, purchasing, servicing or the refinancing of retail installment contracts from an original retailer requires a consumer finance license. The licensing requirements extend to agents, brokers, or facilitators, including servicers, of the company making or purchasing the loans. A consumer finance license is not required for business loans, commercial loans, or for retail installment or purchase money contracts entered into between a consumer and a retailer if the retailer who sold the goods is the originator of the loan.

How to apply

Oregon requires all new lenders to apply through The  Nationwide Mortgage Licensing System (NMLS). NMLS provides instructions for how to do almost anything in the Resource Center under the Resources and Support section. Follow the NMLS instructions to get an Oregon license and complete criminal background and credit check authorization form. Be sure to review the checklist for a new application to ensure your application is complete when submitted.

Interest rate and fee

The annual percentage rate (interest and fees) on the loans you offer may not exceed 36 percent.

Consumer finance discount rate order - 2025

Annual reports

All licensees must file an annual report  by March 31 each year. The report must cover your operations for the previous calendar year.

Renewals

All licenses issued before November 1 st, expire on December 31 st of the same year. Licensees are required to submit a renewal request through NMLS between November 1 st and December 1 st. See the NMLS Resource Center to apply for a license renewal.