Legal Status: Permitted under small loan act or licensing law - Legal
Citation: Del. Code Ann. Tit. 5 2227 et seq.
Delaware State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, ChecknGo.com, QLoot.com
Maximum Loan Amount: $500
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not specified
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit
Maximum Number of Outstanding Loans at One Time: Not Specified ($1000 aggregate loans outstanding to all licensees)
Rollovers Permitted: Four (rollovers)
Collection Fees: One fee for nonpayment if the contract so provides, not to exceed 5% of the payment amount
Criminal Action: Prohibited
Regulator: Delaware Office of the State Bank Commissioner
Address: 555 E. Loockerman Street Suite 210 Dover DE 19901
Phone: (302) 739-4235
Fax: (302) 739-3609
State of Delaware-Office of the State Bank Commissioner
Information-Non Depository Institutions(Search Licensees)
Consumer Services – File a Complaint
Delaware Defined Contribution Plans
The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.
|Borrowed Amount||Loan Period||Monthly Payments||Total Payable Amount|
* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.