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California Financing Law | The Department of Business Oversight

Responsible Small Dollar Loans Pilot Program

Senate Bill 318 (Chap. 467, Stats. 2013) was signed into law on October 1, 2013 and is operative January 1, 2014. The bill created the Pilot Program for Increased Access to Responsible Small Dollar Loans (RSDL) to increase the availability of responsible small dollar installment loans of at least $300 but less than $2,500. Finance lenders who are licensed underthe CFLL and approved by the Commissioner of Business Oversight (Commissioner) to participate in the program may charge specified alternative interest rates and charges, including an administrative fee and delinquency fees, on loans of at least $300 but less than $2,500, subject to certain requirements. Licensees participating in the program are also permitted to use the services of a finder as defined in Section 22371 of the Financial Code.

Licensees under the former pilot program for affordable credit-building opportunities:

Effective January 1, 2014, Senate Bill

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Los Angeles, CA Businesses For Sale

Mission’s Tortilla Route, Santa Monica, CANets Over $62,000 Per Year!
$74,900Cash Flow: $62,462

Mission’s Tortilla Route, Santa Monica, CANets Over $62,000 Per Year!

Los Angeles, CA

Mission’s Tortilla Route for sale in the Santa Monica, California region for $74,900! Currently generating $433,680 in yearly sales and nets $62,462. Distributorship and territory are purchased through seller and contracted through Mission Foods. Mission Foods currently distributes its well-known brand of tortillas, chips, and more. This route currently has 6 accounts delivering to popular grocery stores, super stores, and a university. Plenty of growth opportunity! For more details and financing options go HERE: https://routesforsale.net/mission-foods-route-santa-monica-california.html

Fantastic Restaurant & Bar With Full Liquor License, $2,260,000 SalesFantastic Gastro Pub & Full Bar-High Volume-Low Rent
$349,000Cash Flow: $206,233

Fantastic Restaurant & Bar With Full Liquor License, $2,260,000 SalesFantastic Gastro Pub & Full Bar-High Volume-Low Rent

Los Angeles County, CA

Fantastic Restaurant

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Los Angeles Business Journal Homepage

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Digging In

Musk’s Boring Co. tunnels into new territory

While the world’s eyes have recently been focused on the first manned space launch by Elon Musk’s Hawthorne-based Space Exploration Technologies Corp., another Musk company has been making some news of its own.



Rates Likely to Rise Sharply

Businesses may see hikes after vandalism, virus

While mass protests against police brutality were taking place just blocks away on May 31, two cars pulled up in front of Lana Negrete’s family business, the Santa Monica Music Center.


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Key Milestone at BioLabs

Incubator is now home to 20 companies

When UCLA researcher Dimitrios Iliopoulos and two other UCLA research colleagues were seeking lab space in spring 2019 to house their newly formed biotech company, Athos Therapeutics Inc., they were in luck.


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Vista Studios Sees Future

Meets demand for remote, live tools

Broadcast veteran Randall Heer founded Vista Studios in 2017 with the idea

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CFC & Rwanda Finance Ltd agree to enhance cooperation ties

Casablanca Finance City (CFC) and Rwanda Finance Limited (RFL) have agreed to promote investment and cooperation between Morocco and Rwanda in financial services.

The agreement, signed on Wednesday via videoconference, seeks to promoting best practices, through which CFC will support the development of the International Financial Center of Kigali (KIFC).

Saïd Ibrahimi, CEO of CFC, said: “We are very pleased to sign this partnership between CFC and RFL. This agreement allows us to expand our network of partnerships and to share our expertise with other African financial centers in a logic of South-South cooperation”.

This partnership comes after the agreement sealed with the Rwanda Development Board (RDB), which aims to facilitate the business of CFC companies operating in Rwanda, added Mr. Ibrahimi.

For his part, Nick Barigye, CEO of Rwanda Finance Limited said: “By capitalizing on the close relations between our two countries, this agreement emphasizes the improvement of the

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What Does Business Casual Attire Mean?

Business casual sounds like a breeze. After all, with this dress code, you won’t have to worry about what to wear to work, right? Not quite. 

In fact, this dress code guideline is a frequent source of confusion for workers. And it’s not their fault — there really isn’t a clear, standardized definition. Business casual may mean different things in different companies, cities, and industries. And on top of that, understanding the subtle differences between “business” and “business casual” isn’t easy.

One thing is clear: Dressing in shorts and a t-shirt or a sundress and sandals is too casual. But wearing a full suit is overly formal. 

When in doubt, it’s better to err on the side of dressing too formally, rather than too casually. But where’s the line? Get advice on appropriate business casual attire for men and women, along with tips on what to wear — and what

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Treasury to begin distributing virus relief money to tribes

FLAGSTAFF, Ariz. (AP) — The U.S. Treasury Department said Tuesday that it will begin doling out billions to help tribes respond and recover from the coronavirus more than a week after a congressional deadline and after being sued over who is eligible for the money.

The $2.2 trillion federal rescue package approved in late March set aside $8 billion for tribal governments. The money was supposed to be distributed by April 26, but the Treasury Department said it was grappling with how to do it.

Tribes sued the agency to keep the money from going to Alaska Native corporations, which own most Native lands in the state under a 1971 settlement but are not tribal governments. U.S. District Judge Amit Mehta in Washington, D.C., gave the tribes a victory last week by limiting the funding to the country’s 574 federally recognized tribes while he settles the question of eligibility.

The

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How To Get A Personal Loan

A personal loan can be a great way to get the cash you need to consolidate debt, finance a home improvement project or make a large purchase. The average interest rate on a two-year personal loan is around 10.6 percent, according to the Federal Reserve, compared to the average credit card interest rate of about 17.7 percent.

Whether you’re interested in borrowing from a bank, credit union or an online lender, the process is mostly the same. But getting a loan the smart way requires a little extra research and care to make sure you get the best offer available.

How to get a personal loan in 8 steps

  1. Run the numbers
  2. Check your credit score
  3. Consider your options
  4. Choose your loan type
  5. Shop around for the best personal loan rates
  6. Pick a lender and apply
  7. Provide necessary documentation
  8. Accept the loan and start making payments

1. Run the numbers

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Personal loans can help in a crunch. But read this before you apply

While the stimulus checks have started dropping into bank accounts and many creditors are offering relief on payments, those options may not be available to everyone or they may not be enough. That’s why some people are turning to unsecured personal loans, often used for debt consolidation or home improvement projects, to cover emergency expenses.

While some lenders are offering low interest relief loans, others are tightening credit requirements for borrowers.

Here’s what you need to know about taking out a personal loan during this crisis and whether or not one makes sense for you.

An unsecured personal loan is money borrowed from a bank, credit union or online lender that can be used for anything. The money is paid back in installments over time, usually with a fixed interest rate.

While many experts would caution against personal loans, which often come with high interest rates and fees, they could

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