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Companies that offer personal loans of $50,000 or less must get an Oregon consumer finance license from the division. This applies to loans for personal or household use. No consumer finance license is required for business loans, commercial loans, purchase money loans, or retail installment sales contracts. The license requirements extend to agents, brokers, or facilitators of the loan company.
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.
503-947-7300, option 2DFR.NDP.Licensing@dcbs.oregon.gov
The annual percentage rate (interest and fees) on the loans you offer may not exceed 36 percent.
Consumer finance discount rate order - 2023
All licensees must file an annual report by March 31 each year. The report must cover your operations for the previous calendar year.
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.
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