Small Loan Companies
Small loan companies are businesses licensed to make loans of $2,500 or less to New Mexico consumers. These companies are licensed and regulated as per the provisions enacted in the New Mexico Small Loan Business Act §58-15-1 NMSA 1978.
In order to be licensed as a Small Loan Company you must complete a Small Loan license application and submit the completed application to the Director of the Financial Institutions Division. Click here for a Small Loan License Application. The application details all the requirements necessary for a person to apply for a Small Loan License.
Notice to all Small Loan Licensees
Small Loan Reporting Requirements Form (2013)
In accordance with the provisions of 58-15-10.1 NMSA 1978, this form must be submitted by all Small Loan Licensees who issued a loan with a disclosed annual interest rate (APR) greater than one hundred seventy five percent (175%) as disclosed pursuant to 12 C.F.R. 226, ("Regulation Z") between January 1, 2012 and December 31, 2012.
This form must be completed and received by the Financial Institutions Division no later than March 31, 2013. Click here for the form.