Small Loan Companies: Forms and Applications
License Applications:
The Financial Institutions Division will now accept a scanned copy of any license application electronically. Applicants have the option to upload all required documents via the Division's secure email portal, Mail Express.
All New Mexico Small Loan Company Act licenses are due for renewal. Current licenses will expire on June 30, 2021, unless a renewal application and applicable fees are submitted before March 31, 2021.
Coronavirus Update:
We are currently accepting applications normally, and as long as we receive the application by the due date, we will consider it a timely submission.
All applications, exhibits, and applicable fees submitted after March 31, 2021, will result in a mandatory delinquency fee of ten dollars ($10.00) per day for each licensee delinquent in filing the renewal application pursuant to §58-15-5 (K) NMSA 1978.
As we continue to monitor the situation, we may make alternative arrangements, as we understand the pandemic response is affecting all businesses and individuals and we will work with our licensees the best we can going forward to avoid any negative impact to them as they deal with this situation.
The renewal application may be accessed by visiting our website at http://www.rld.state.nm.us/financialinstitutions/Small_Loan_Companies.aspx.
Select the “Forms and Applications” section and the link to Small Loan License Renewal Application.
The form is downloadable as an editable PDF document.
Once completed, print the application, sign and notarize the applicable verifications. A scanned copy of the completed application may be uploaded to the Division by utilizing the secure email portal, Mail Express. Further instructions are available on the website.
All fees listed below must be mailed to the Financial Institutions Division, P.O. Box 25101, Santa Fe, NM 87504. Please include a cover letter with the applicant’s name and license number.
- An annual renewal fee of five hundred dollars ($500.00) plus an additional seventy-five cents ($0.75) for each one thousand dollars ($1,000) or fraction thereof of loans outstanding as of December 31, 2020 pursuant to §58-15-5 (K) NMSA 1978.
- An annual examination fee of two hundred dollars ($200.00) pursuant to §58-159 (A) NMSA 1978.
- An annual financial literacy fee of two hundred dollars ($200.00) pursuant to §5815-5 (L) NMSA 1978. The financial literacy fee will be used for the development and implementation of financial literacy programs throughout New Mexico.
- Additionally, each licensee shall submit an annual report for all loan transactions in the amount of $5,000 or less originated in calendar year 2020. Licensees are required to complete the 2020 Small Loan Reporting Form, available on the Financial Institutions Division website, no later than April 15, 2021.
For detailed instructions on how to access and use the portal, click here. Please use the subject line and sender email address listed below for the specific application to be submitted.