Installment Loan License - Financial Regulation
Installment Loan Lenders provide loans or extension of credit repayable in scheduled periodic payments of principal and interest.
- New Applicants - ALL new license applicants MUST initiate applications through the NMLS. Proceed to NMLS.
Please note new license requests must be submitted through the NMLS, but supporting documentation must be sent to the Maryland Office of the Commissioner of Financial Regulation.
- Renewing Licensees - You must renew your license on the NMLS during the renewal period – November 1st through December 31st. Proceed to NMLS. Please note renewal requests must be submitted through the NMLS, but supporting documentation must be sent to the Maryland Office of the Commissioner of Financial Regulation.
- Print a Copy of Your License
- Application and Licensing Fees
Laws and Rules
Applicants and licensees are expected to be knowledgeable about and in compliance with the Installment Loan law, and any other applicable State or Federal statutes and regulations. Maryland rules and regulations can be found by accessing the Code of Maryland Unannotated and Rules (Public Access) and Code of Maryland Regulations (COMAR).
Note: To access the Maryland Code Annotated, from the link below, select the "Maryland Code" folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.
Maryland Code Annotated, Commercial Law § 12-103(a)(3) or (c) (Interest and Usary)
Maryland Code Annotated, Commercial Law § 12-901 et seq. (Credit Grantor Law/Open-End Credit)
Maryland Code Annotated, Commercial Law § 12-1001 et seq. (Credit Grantor Law/Closed-End Credit)
Maryland Code Annotated, Financial Institutions § 11-301 et seq. (Installment Loans-Licensing Provisions)
COMAR 09.03.02 General Regulations
COMAR 09.03.10 Credit and Other Regulation