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Ask HN: Cheapest way to obtain lending licenses in various US states?
I'm interested in hearing from people who have bought lending licenses for businesses in the US in various states. Specifically, it would be great to know what third party services (if any) you used to and what the fixed cost (states fees) and hourly cost of the people you hired to do that work was. The state fees are obviously available on each state site but if there was anything surprising or additional costs that you learned along the way would be great to hear about that. Also I am interested in non-residential lending.
- samstave 6y agoLoan Sharking? (jk) What are you looking to do?
- davidajackson 6y agoLong term goal would be to offer much better terms than what sharks offer. I'm working on building a service that relies heavily on data science (being intentionally vague atm). I will post a beta/demo at some point when it's ready for a show HN but in the meantime I'm trying to assess regulatory costs. Thanks
- ziddoap 6y agoIf it is a serious endeavor, I suggest it is well worth your money to speak with a lawyer who works in this area. Random internet people are generally not the best for assessing the regulatory costs of your intentionally vague business venture, and most lawyers would be happy to compile this type of information for a fair fee with the hopes that you will then use them for jumping through the regulatory hoops when you launch.