SHORT TERM LOAN
The Division of Financial Institutions regulates short term lenders in Ohio pursuant to Sections
1321.35 to 1321.48
and 1315.99 of the Ohio Revised Code.
A Short-Term Loan is a loan made pursuant to the Short Term Lender Law. No person shall engage in the business of making short-term loans to a
borrower in Ohio, or, in whole or in part, make, offer, or broker a loan, or assist a borrower in Ohio to obtain such a loan, without first
having obtained a license from the superintendent of financial institutions under section 1321.35 to 1321.48 of the Revised Code.
Instructions and the forms required to apply for a short term license can be obtained at
http://www.com.ohio.gov/fiin/Forms.aspx. The Division will investigate the applicant to determine they meet
all the statutory requirements for licensure under the act.
Licenses must be renewed annually. Each short term lending office location must be individually licensed. If an office is to be
relocated, the licensee must obtain a new license from the Division prior to conducting business at the new location.
Licensees are responsible for understanding and complying with the applicable statutes. The Division will periodically examine
licensees for compliance with Ohio law and has the power to issue subpoenas in the process of conducting examinations and investigations.
In addition, the Division may deny applications for registration, revoke, suspend, or refuse to renew licenses, or impose fines
against licensees pursuant to the Ohio Administrative Procedures Act, Chapter 119 of the Ohio Revised Code.
Questions regarding the industries regulated by Consumer Finance may be e-mailed to: webdfi-cf@com.state.oh.us