Installment Lenders

The Department has regulatory authority over certain installment lenders conducting business in Georgia.

Installment Lenders: Finance Companies and Small Loan Companies

Installment lender means any person that advertises, solicits, offers, or makes installment loans, or services installment loans made by others, excluding loans made by affiliated entities under the Georgia Installment Loan Act (“GILA”).  Installment loans means a contract or agreement to make a loan to an individual in an amount of $3,000 or less, including renewal or refinancing of any such loans.  Entities that meet the definition of installment lender are required to be licensed by the Department.  The Department utilizes the Nationwide Multistate Licensing System (“NMLS”) to license and manage installment lenders.

How Do I Apply for a Installment Lender License?

RENEWALS

Georgia's annual license/registration renewal period is between November 1 and December 1.  Late Renewals are permitted between December 2 and December 31.    Incomplete applications will be subject to expiration after December 31.

Installment Lenders – Related Links

Insurance products and insurance-related activities tied to installment lending are regulated in Georgia by the Office of the Commissioner of Insurance and Safety Fire.  For more information, please visit https://oci.georgia.gov. 

For finance companies that make consumer loans over $3,000, the Federal Trade Commission and the Consumer Financial Protection Bureau have regulatory authority over certain aspects of these loans.  For further information as well as information on how to file a consumer complaint, please visit:

Federal Trade Commission:

1-877-FTC-HELP (1-877-382-4357)

https://reportfraud.ftc.gov/#/

Consumer Financial Protection Bureau:

(855) 411-2372

https://www.consumerfinance.gov/complaint/