Legal Question in Business Law in California

If I'm a business owner, can I make (aka borrow) multiple microloans ($5k or less) from people and/or businesses across the United States without registering with the SEC as long as I keep the interest rate at approximately 5%? I've done a lot of online research and downloaded numerous publications, articles etc and now I would like feedback from an Attorney. Contracts and disclosures etc would be used online and everything would be full disclosure.

Thanks Mr Bowen San Diego CA [email protected]


Asked on 12/07/21, 11:14 pm

1 Answer from Attorneys

Timothy McCormick Haapala, Thompson & Abern, LLP

You don't have to register with he SEC to borrow money.

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Answered on 12/08/21, 8:05 am


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