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Missouri Division of Finance     
301 W. High Street
Room 630,
P.O. Box 716
Jefferson City, MO  65102
Phone: 573 751-3242
Fax: 573 751-9192
E-Mail: finance@dof.mo.gov

Small Loan Companies (Sections 367.100-367.215 RSMo)

Sections 367.100-367.215 are the licensing provisions for making consumer credit loans which were traditionally referred to as "small loans." Such a licensee may make loans, whether secured or not, in any amount of $500 or more, i.e., there is no upward limit. This license, due to various exemptions from other licensing acts, also authorizes the purchase of all kinds of dealer paper, for example, dental contracts, motor vehicle sales finance contracts, home improvement contracts not secured by real estate, etc. This type of lender may also make real estate secured loans.

The substantive law (that is the law concerning rates, refunding, insurance, and so forth) directly related to this license is found in sections 408.100-408.210. The consumer protection provisions concerning rights to cure defaults, limitations on repossessions, etc. found in sections 408.551-408.562 apply to consumer credit loans. Related regulations are found at 20 CSR 1140-5.010 and 20 CSR 1140-5.020.

The consumer protection provisions of sections 408.551-408.562 do apply.  Regulations for title loans are found in 20 CSR 1140-29.010.