Do I need a license to do business to business lending?

Asked 8 months ago - Fort Lauderdale, FL

Are there any state or federal laws that regulate BUSINESS TO BUSINESS loans?

Attorney answers (3)

  1. Debra Lynn Fein

    Contributor Level 15

    2

    Lawyers agree

    Answered . There is not enough information here to answer this question. However, depending upon the type of lending you might arguably be selling securities as defined in Chapter 517 of the Florida Statutes - without the proper licenses you might find yourself in more trouble than you expected. You need to find a lawyer who specializes in this area of law for guidance.

    This answer does not establish an attorney client relationship and is just my opinion based upon the limited facts... more
  2. David H Salmon

    Pro

    Contributor Level 4

    2

    Lawyers agree

    Answered . As my colleague mentioned, more information is needed to respond to a question like this as there are several bodies of law which may be implicated by your business. I would consult an attorney to determine what licensing you may need and/or what liability you may be exposing yourself to before continuing operations.

    The information contained in this answer is provided for informational purposes only, and should not be construed... more
  3. Andrew Jarrett Sky

    Contributor Level 9

    Answered . You may want to turn to the Florida Statutes for some information.

    Ones you might want to start with are ยงยง494.001-494.0077, which can be found online at www.leg.state.fl.us/statutes/

    This is for educational purposes. Most likely you are not going to comprehend the information in the statutes so do yourself a favor, hire an attorney to do this for you. An ounce of prevention, is worth a pound in gold. I think my grandfather taught me this one.

    This information is for educational purposes only and is not to be relied upon as legal advice, legal opinion or... more

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