A requires the lender seeking a license to be organized as a Pennsylvania corporation; this is a requirement that could only be imposed on a Pennsylvania lender

Fourth, the Department’s interpretation gives no meaning to the requirement that the lender be a “domestic business corporation organized under ? the Business Corporation Law of this Commonwealth?” Section 3.A of the CDCA, 7 P.S. § 6203.A. When one parses Section 3.A, it reads

no person shall engage ? in the business of ? making loans ? and charge ? in excess of the interest that the lender would ? be permitted by law to charge if not licensed ? except a domestic business corporation ? after first obtaining a license? Czytaj dalej Otherwise, compliance would require the out-of-state lender to set up a Pennsylvania subsidiary, which would violate the Dormant Commerce Clause →

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Technically, there are generally no restrictions in how you use unsecured personal loan funds

Buying a car is a big financial decision. Czytaj dalej Auto loan vs. personal loan: what’s the difference? →