Legal Status: Prohibited
Citation: Consumer loan act applies. Md. Code Com. Law § 12-101 et seq.
Small Loan Rate Cap:
2.75% per month; 33% per year.
Regulator: Maryland Commissioner of Financial Regulation
Address: 500 North Calvert Street Suite 402 Baltimore MD 21202
Regulatory Contact: Michael Jackson Director, Regulatory Policy
Maryland Division of Financial Regulation
Complaints and Inquiries
Beware of Predatory Lending
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.