General Information

Definitions

Loan broker

Any person, firm or corporation who, in return for any consideration from any person, promises to:

• Procure for such person, or assist such person in procuring, a loan from any third party; or
• Consider whether or not it will make a loan to such person.

Loan

Any agreement to advance money or property in return for the promise to make payments therefor, whether such agreement is styled as a loan, credit card, line of credit, or lease or otherwise.

There are exceptions to the definition and you may want to review the document under the box entitled “Do You Need to Register” on the right.

Required Documents

Prior to placing any advertisement or making any other representations to prospective borrowers in North Carolina, every loan broker needs to file the following documents with the Secretary of State:

Disclosure Statement

• Two (2) copies of the disclosure statement
• These documents should be reviewed to determine that all the information required by G.S. §66-107 is contained within them.

Surety Bond or Trust Account

• One (1) copy of a surety bond required or formal notification of the establishment of a trust account is required. G.S. §66-108
• The bond or trust notification should be reviewed to determine compliance with G.S. §66-108
• The bond or trust account notification must be submitted with the disclosure statement.

Foreign Entities

Foreign entities registering to transact loan broker activities in North Carolina are required to apply for a Certificate of Authority.

Update of Information

The registration is to be updated as any information is changed or there is a change in the status of the surety bond or trust account. If there are no changes, the information is to be confirmed annually.

Submit Document Package to: