Who regulates small loan companies in Rhode Island?
The Division of Banking within the Rhode Island Department of Business Regulation (DBR) licenses and regulates small loan lenders.
Licensed Network Active // Rhode Island
Personal Loans in Rhode Island
InstantLoans.ai connects residents of Rhode Island with independent third-party lenders operating in accordance with Rhode Island Small Loan Act - R.I. Gen. Laws § 19-14.2 et seq..
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Last Updated: June 15, 2026
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Editorial Policy & Integrity PactRhode Island Regulatory Overview
Governing Statute
Rhode Island Small Loan Act - R.I. Gen. Laws § 19-14.2 et seq.
Primary legal framework regulating consumer loans and borrower protections.
Regulatory Authority
Rhode Island Department of Business Regulation (DBR) - Division of Banking
Official State Portal →Statutory APR Limit
Tiered small loan caps up to 29.99% under R.I. Gen. Laws § 19-14.2-8
Annual percentage rates comply with state usury and consumer credit caps.
Maximum Network Loan
Up to $35,000
Prepayment allowed at any time with zero penalty under state statute.
Understanding Loan Protections in Rhode Island
Rhode Island DBR oversees small loan lenders to ensure compliance with statutory interest schedules. Lenders must provide comprehensive TILA disclosures.
Guaranteed Borrower Rights
- ✓ Right to itemized loan accounting upon request
- ✓ No prepayment penalties on consumer loans
- ✓ Clear explanation of APR and repayment schedules
How InstantLoans.ai Works in Rhode Island
1. Connect
Submit your information securely. We ping our network of participating independent lenders.
2. Review Offers
If a lender accepts your request, review their specific rates, fees, and terms independently.
Frequently Asked Questions in Rhode Island
Can Rhode Island lenders charge early payoff fees?
No, borrowers may prepay balances at any time without fees under Rhode Island General Laws.