SB 777: The California Finance Lenders Law: application.

Existing law, the California Finance Lenders Law, provides for the licensure and regulation of finance lenders and brokers. Existing law exempts from its provisions, among others, persons making 5 or fewer commercial loans in a 12-month period if the loans are incidental to the business of the person relying upon the exemption.

This bill would also exempt, until January 1, 2022, a person who makes one commercial loan in a 12-month period from regulation pursuant to the California Finance Lenders Law.