Ask your attorney about usury laws and licensing requirements in your state (for example, in California you need to obtain a state lender’s license) and be sure your practices are in compliance. If your attorney doesn’t know the answers to these important matters, get a referral to one who does.

If the securities offering has to be registered with the state, this is what the state wants from the person filing the registration statement: • Filing fee • Total amount of the offering • Amount of securities offered in their state • Names of other states where securities will be offered • Any adverse order, judgment, or decree entered by a