Installment Lenders: Finance Companies & Small Loan Companies

Finance companies and small loan companies that make consumer loans of $3,000 or less are regulated by the Department pursuant to the Georgia Installment Loan Act (“GILA”).  O.C.G.A. §§ 7-3-1 through 7-3-52.[1] Installment lenders include entities that advertise, solicit, offer, or make loans of $3,000 or less, including renewing or refinancing any such loans.  O.C.G.A. § 7-3-3.  Entities that make such loans are required to be licensed by the Department.  O.C.G.A. § 7-3-4.  The Department utilizes the Nationwide Multistate Licensing System (“NMLS”) to license and manage installment lenders.   Consumers can verify that installment lenders are authorized to operate in Georgia by checking NMLS Consumer Access, available at: www.nmlsconsumeraccess.com.

If you believe that you have conducted business with an entity offering installment loans in Georgia who is not listed as a licensed entity through NMLS Consumer Access, please report such entity to [email protected].

If you have had an issue with a licensed installment lender in Georgia, you should attempt to resolve the issue directly with the entity.  If you are unable to resolve the issue directly with the entity, you may wish to file a complaint with the Consumer Financial Protection Bureau (“CFPB”).  For more information about the CFPB complaint process, please visit: www.consumerfinance.gov/complaint/.

The Department is not authorized to resolve disputes between consumers and installment lenders.  However, the Department does use information provided by consumers in its regulatory process.  If you wish to report an issue to the Department, please send a detailed email and supporting documentation to [email protected]. 

For more information on the Department’s regulation of installment lenders, please visit the Department’s “Installment Loans” page.  This page includes guidance on dealing with unlicensed installment lenders as well as other information about installment lending.

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 on how to file a complaint, please visit:

            Federal Trade Commission:
            1-877-FTC-HELP (1-877-382-4357)
            reportfraud.ftc.gov/#/

            Consumer Financial Protection Bureau:
            www.consumerfinance.gov/complaint/

[1] To access these laws or any part of the Georgia Code, please visit the Georgia General Assembly and type in the relevant Code Section (e.g., “7-3-1”) into the provided search bar. (Links off-site)

The Code is provided by the State of Georgia from the Georgia General Assembly's website. In viewing the Code, please be aware that legislation passed during the most recent legislative session may not yet be posted on LexisNexis.