The licensing provisions for making consumer credit loans that were traditionally referred to as "small loans"  are found in §§367.100-367.215. Such a licensee may make loans, whether secured or not, in any amount of $500 or more, i.e., there is no upward limit. This license, due to various exemptions from other licensing acts, also authorizes the purchase of all kinds of dealer paper, for example, dental contracts, motor vehicle sales finance contracts, home improvement contracts not secured by real estate, etc.

The substantive law (that is, the law concerning rates, refunding, insurance and so forth) directly related to this license is found in §§408.100-408.210. The consumer protection provisions concerning rights to cure defaults, limitations on repossessions, etc. found in §§408.551-408.562 apply to consumer credit loans. Related regulations are found at 20 CSR 1140-5.010 and 20 CSR 1140-5.020.

The consumer protection provisions of §§408.551-408.562 do apply. Regulations for title loans are found in 20 CSR 1140-29.010.

PLEASE NOTE: The licensing fee for applications and renewals postmarked AFTER August. 28, 2015, has increased to $500. Please use the appropriate application packet below: