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Do commercial loan brokers have to be licensed?

April 26, 2017brokers Commercial licensed loan

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Do commercial loan brokers have to be licensed?

1 Answer

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No, the regulation of commercial loan brokers does not fall under the jurisdiction of the Maine Bureau of Consumer Credit Protection. Transactions involving two businesses are legal/contractual in nature. Therefore, disputes involving a commercial loan between a business and commercial loan provider or broker must be settled in the court system.