How to License a Consumer Loan Company:
- Read KRS 286.4 and the applicable administrative regulations under KAR 808, Chapter 6.
- Submit the application, surety bond and all other required documents online via NMLS. The initial application and license fee is $1,000.
How to Renew a Consumer Loan Company License:
- Read KRS 286.4.
- Submit renewal online via NMLS.
Licenses must be renewed each calendar year. All entities must renew by December 20 each year. The renewal fee is $500 per location. If the licenses are not renewed before they expire, there will be a 30-day reinstatement period and a $100 additional fee.
Notice
DFI issued an advisory to DFI-regulated lenders announcing the Department of Defense's final rule on limitations on consumer credit extended to military service members and their dependents.
For More Information
Contact Thiery Byishimo (ThieryM.Byishimo@ky.gov) with questions about applications, licensing, registration or exemptions.
Contact Rebecca Arthur at (502) 892-4130 about regulatory or compliance questions.
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