Industrial Loan License

Iowa Division of Banking


License to operate an industrial loan company. A company may make loans of any size with a finance charge greater than Iowa\’s basic usury rate, but limited to the restrictions shown in 536A.23.

Code Citation IC 536A

Who Applies A corporation engaged in the business of making loans to individuals (not corporations) must obtain a license to operate in this state.

When To Apply Application must be made and a license issued before operations begin.

Initial Requirements Minimum capital of $50,000 plus $5,000 surplus is required.

Duration Licenses are subject to renewal each December 1.

Processing Time 120 days (maximum).

Fee Structure Application Investigation: $100 Annual License: $250

Renewal Requirements Does not pertain.

Exam Licensee subject to examination once per year.

Additional Information None.

Services Provided

Service Category

  • Service SubCategory
Contact Information
Craig Christensen
200 East Grand Avenue
Suite 300
Des Moines, IA 50309