The State of New Jersey
NJ Department of Banking and Insurance
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Home > Banking Division > Banking Licensees > Consumer Lenders, Sales Finance Companies
Consumer Lenders/Sales Finance Companies
(Corporations, Limited Liability Companies, Partnerships, Sole Proprietorships)


A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes in an amount of $50,000 or less and that is payable in one or more installments. A consumer lender license does not authorize the making of residential first or second mortgage loans.

The governing statute is the New Jersey Consumer Finance Licensing Act, N.J.S.A 17:11C-1 et. seq.

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A sales finance company license is required for the following business activities:

  1. acquiring or arranging for the acquisition of New Jersey retail installment contracts and/or New Jersey retail charge accounts from a retail seller
  2. directly or indirectly engaging in the business of soliciting the purchase of retail installment contracts or retail charge accounts from a retail seller
  3. aiding the retail seller in selling, assigning or arranging for the sale or assignment of retail installment contracts or retail charge accounts

The governing statutes are the New Jersey Consumer Finance Licensing Act, N.J.S.A 17:11C-1 et. seq., and the New Jersey Retail Installment Sales Act of 1960, N.J.S.A. 17:16C-1 et. seq.

NOTE: Fingerprinting is required for all Consumer Lender and Sales Finance Company License Candidates

Instructions and Applications
Information for COMPANIES
Information for BRANCHES

Instructions/Application (PDF)

The following forms are required with an initial application (Note: These forms are included in application above)

Instructions/Application (PDF)

The following forms are required with an initial application (Note: These forms are included in application above)

Additional Forms
Please Note:
If you are answering "Yes" to a question contained within application materials pertaining to an Arrest, Indictment or Conviction, you MUST complete an Arrest and Conviction Form (MS Word)
There are series of qualifying questions within the required application materials that require “Yes” or “No” responses. Affirmative responses to some questions and negative responses to others require the submission of additional information.
Supporting Documentation Requirements for
Business Entity Applicant or Individual Personal Certification
More Information...
 
For licensing questions, contact:   NJDOBI License Services, Banking
PO Box 473
Trenton, NJ 08625
E-mail: bliconline@dobi.state.nj.us
Phone: 609-292-7272
Fax: 609-633-0822
 
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New Jersey Department of Banking and Insurance