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Bill Title: Long term small loans. Provides that a lender that is licensed by the department of financial institutions to engage in small loans may enter into a transaction for a long term small loan with a borrower. Defines a long term small loan as a loan that: (1) is entered into by a licensed small loan lender and a borrower; (2) has a principal amount of at least $605 and not more than $2,500; and (3) is payable in installments over a term of not more than 24 months. Provides that with respect to a long term small loan, a lender

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-01-09 - First reading: referred to Committee on Insurance and Financial Institutions [SB0245 Detail]

Download: Indiana-2017-SB0245-Introduced.pdf

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