Montana constraints focus toward individual money to help you thirty six% per year, exclusive of one’s costs subscribed because of the Mont A personal loan mode credit provided otherwise stretched to one priily, or domestic motives, together with money private, relatives, or domestic purposes which are not mainly secured from the home financing, deed from faith, faith indenture, or people other security interest in real estate 26. MONTANA: True to form for the “M” states, no license is needed for a commercial loan broker or lender. Mortgage lenders and consumer lenders do need licenses. A consumer license is required for any person that engages, directly or indirectly, in the business of making consumer loans in any amount. Code Ann. 32-5-301(3) and (4) (2019). Any loan made or collected in violation of Mont. Code Ann. § 32-5-103(1) by a person other than a licensee or a person exempt under Mont. Code Ann. § 32-5-103(5) is void, and the person does not have the right to collect, receive, or retain any principal, interest, fees, or other charges. Pretty fierce penalty, so best to heed that law. twenty-seven. NEBRASKA: Nor doesNebraska wanted a permit to own industrial loan providers otherwise agents. And you can, as with of numerous states, user and you will mortgage lenders have to be subscribed.