CALIFORNIA COMMERCIAL LENDER LAWYER
Commercial lenders who lend to California borrowers, using physical office or online platforms, must obtain a California Finance Lenders Law License. (“CFLL”) and be subject to the California Finance Lenders Law.
Per California Finance Lenders Law, a finance lender is defined as “any person who is engaged in the business of making consumer loans or making commercial loans.”
In general, any person engaging in the business of a finance lender or finance broker is required to obtain a California Finance Lenders license.
Commercial lenders make secured or unsecured “commercial loans” and therefore require a CFLL license when making loans to California borrowers. There may be exemptions or non-loan transactions that may apply to some commercial financing transactions. When raising capital lenders must also comply with applicable state and federal securities laws and regulations.
Commercial lenders in California may be subject to many state and federal financial laws and regulations. THE LAW OFFICES OF ALAN ABERGEL, P.C. is knowledgeable and experienced in handling all the licensing, regulatory, compliance, and administrative matters concerning commercial lenders’ operations in California. Our services include, assisting with the California Finance Lenders License application, legal advice about compliance with the California Finance Lenders law and applicable California and federal lending and financial laws and regulations, drafting of contractual documents and disclosures in compliance with the California Finance Lenders law and applicable state and federal financial laws and regulations, representation before the DFPI in administrative litigation matters, audits, inspections, citations, desist and refrain orders, license suspensions, revocations, and accusations, representation in appeals of administrative decisions, and representation of California commercial lenders in court in defense against lawsuits brought by the DFPI, or other government authorities.
We do not represent consumers. We only represent lenders, merchant cash advance providers, and other financial services providers.
WE PROVIDE THE FOLLOWING LEGAL SERVICES TO CALIFORNIA COMMERCIAL LENDERS:
- Representation of California commercial lenders before DFPI and assistance in getting a California Finance Lenders license.
- Representation of California commercial lenders in compliance with DFPI rules, and compliance with financial and lending federal laws and regulations.
- Drafting the newly required California commercial financing disclosures.
- Representation in DFPI administrative hearings and proceedings, including Accusations, Statements of Issues, Desist and Refrain Orders, and Citations.
- Representation in investigations, inspections, and audits by DBO, CFPB, or other government agencies.
- Advice concerning state and federal financial and lending laws.
- Drafting of loan and credit documents for California Finance Lenders, merchant cash advance providers and commercial lenders
- Defense of California commercial lenders in state and federal court litigation.
- Affordable flat fee outside general counsel plans to California commercial lenders.