Concerning the maximum principal amount of small loans.

 S-4657.1

SUBSTITUTE SENATE BILL 6250

State of Washington

69th Legislature

2026 Regular Session

By Senate Business, Trade & Economic Development (originally sponsored by Senators Kauffman and Nobles)

READ FIRST TIME 02/04/26.

AN ACT Relating to the maximum principal amount of small loans; and amending RCW 31.45.073 .

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1. RCW 31.45.073 and 2009 c 510 s 3 are each amended to read as follows:

(1) No licensee may engage in the business of making small loans without first obtaining a small loan endorsement to its license from the director in accordance with this chapter. An endorsement will be required for each location where a licensee engages in the business of making small loans, but a small loan endorsement may authorize a licensee to make small loans at a location different than the licensed locations where it cashes or sells checks. A licensee may have more than one endorsement.