Financial Code - FIN - FIN § 22303

Summary

Every licensee who lends any sum of money may contract for and receive charges at a rate not exceeding the sum of the following: (a) Two and one-half percent per month on that part of the unpaid principal balance of any loan up to, including, but not in excess of two hundred twen

Text

Every licensee who lends any sum of money may contract for and receive charges at a rate not exceeding the sum of the following:
(a)
Two and one-half percent per month on that part of the unpaid principal balance of any loan up to, including, but not in excess of two hundred twenty-five dollars ($225).
(b)
Two percent per month on that portion of the unpaid principal balance in excess of two hundred twenty-five dollars ($225) up to,
including, but not in excess of nine hundred dollars ($900).
(c)
One and one-half percent per month on that part of the unpaid principal balance in excess of nine hundred dollars ($900) up to, including, but not in excess of one thousand six hundred fifty dollars ($1,650).
(d)
One percent per month on any remainder of such unpaid balance in excess of one thousand six hundred fifty dollars ($1,650).
This section does not apply to any loan of a bona fide principal amount of two thousand five hundred dollars ($2,500) or more as determined in accordance with Section 22251.

Retrieval chunks

• #1 | Financial Code - FIN - FIN § 22303

  Every licensee who lends any sum of money may contract for and receive charges at a rate not exceeding the sum of the following: (a) Two and one-half percent per month on that part of the unpaid principal balance of any loan up to, including, but not in excess of two hundred twenty-five dollars ($225). (b) Two per…