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Service Nova Scotia and Municipal Relations

Lender Licence

Who Needs This Licence?
Any lender and/or seller (except for banks) who wants to extend credit or provide financing to consumers in Nova Scotia.
Issuing Department / Agency:
Service Nova Scotia and Municipal Relations
Where can you get this Licence and / or further information?
  Contact: Business Licensing Section
Service Nova Scotia and Municipal Relations
  Phone:

(902) 424-5552

  E-mail: MACLELAD@gov.ns.ca
  Visit: Maritime Centre (Aliant Building)
8th Floor (South)
1505 Barrington Street (at corner of Spring Garden Road)
Halifax, Nova Scotia    B3J 3K5
  Write: PO Box 2723
Halifax, NS   B3J 3P7
  Fax: (902) 424-0702
  Website: http://www.gov.ns.ca/snsmr/consumer/
Application Forms & Process:
With this Licence, there are two different ways to submit your application form: 

A) You can send in a hard copy. You can get a form by: 
       (1) downloading a form from our website; 
       (2) visiting any Access Nova Scotia Centre; or 
       (3) calling, writing or visiting the Licensing Section office listed above. 

B) You can fill it out on-line. To do this, you must be able to pay as follows: 
       (1) by Visa, MasterCard or American Express Credit Card; or 
       (2) with an already established positive balance account with the Nova Scotia Business Registry. 
       We cannot accept any form of Debit cards at this time. 

If you wish to apply on-line, click here. Before you begin, make sure you have at hand the information listed below! 

Information you will need to fill out your application form:

  • Details are required if the applicant or any partner, officer or director has
 

 

 

 

  • had a business licence
  • had a licence refused, suspended or revoked
  • been involved in a personal or corporate bankruptcy
  • unpaid judgments outstanding
  • been convicted of a offence under the law and not been pardoned
  • Name, address and date of birth for the applicant, partners and officers
  • Three year employment history for the applicant, partners and officers
  • Address and manager's name for all branches

You can get a Licensing Guide from any Access Nova Scotia Centre or from the Business Licensing Section listed above.

The completed application is submitted to the Department, along with the applicable fee (see Price below).

The application process includes background checks, and a review of documents to ensure that they comply with disclosure requirements.  The applicant must provide samples of the following items for approval:

(a) "Disclosure of the cost of borrowing" forms for loan / purchase agreements;
(b) credit card and line of credit agreements;
(c) "Monthly statements" form for credit cards and lines of credit;
(d) "Annual statement to borrower" form for consumer loans.

If all requirements are met and the application is approved, the licence will be mailed to the applicant.

Waiting Period:
This licence is normally processed within 3 to 4 weeks, once all items which must accompany the application have been received, and all requirements are met.

(Please allow several extra days for mail delivery.)

Expiry & Renewal
This licence is valid for 3 years from the end of the month in which it is issued. It can be renewed; the department will send out a renewal notice before it expires.
Price: (No tax is charged)
Initial application and renewal:  $114.30

If you send in an application form, payment is by cheque or money order made out to the Minister of Finance. No credit or debit cards are accepted at this time. 

If you apply on-line, payment is (a) by Visa, MasterCard or American Express credit card, or (b) with an already established positive balance account with the Nova Scotia Business Registry. No debit cards are accepted at this time.

Related Requirements:
The business must be registered with the Registry of Joint Stock Companies .

There may be bonding requirements; this is at the discretion of the Registrar of Credit.

Additional Information:
Business that only charge interest on overdue accounts are not required to obtain a Lender Licence.

Business to business lending transactions are exempt.

Mortgage transactions are exempt.

Who is regulated under the Consumer Protection Act?
All Credit Grantors (except banks) who are extending credit in Nova Scotia.

What is regulated?
Disclosure of the details of credit transactions.  Note: "credit" includes the advancement of money, and the purchase of goods or services through conditional sales contracts, credit cards and lines of credit.

Legislative Authority: 
Consumer Protection Act, Revised Statutes of Nova Scotia, 1989, Chapter 92


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