Lender Permit

Apply for a Lender Permit. You need the permit if you’re a lender or seller who wants to extend credit or provide financing to consumers in Nova Scotia. Mortgages and business-to-business lending transactions are exempt.

By law, you must have a Lender Permit if you lend money or provide consumer financing to Nova Scotians. The permit is valid for 3 years.

If a person is found guilty of an offence under the Consumer Protection Act, they can be fined up to $25,000 or go to prison for up to a year or both. If a company is found guilty, it can be fined up to $300,000.

Eligibility

If you lend money or provide consumer financing to Nova Scotians you need to apply for a permit.

How to apply

  1. Complete the application form.
  2. Check the application for details on all required supporting documents.
  3. Include payment with your application.
  4. Send your completed application, supporting documents and payment by mail or fax.

How long it takes

It should take 2 weeks to get the permit. It can take longer if more information is needed or if your application hasn’t been filled in correctly.

Cost

Activity Fee
Permit $133.35

Payment options

Visa, MasterCard, American Express, cheque, money order. A cheque or money order should be made payable to the Minister of Finance. Payment options may vary depending on how you apply.

Before you start

Make sure you have:

  • place of business in Nova Scotia, where files are accessible for inspection
  • Registry of Joint Stock Companies number
  • 3-year employment history for you and any partners and officers
  • supporting documents including samples of forms you want to use (for example, credit application forms, loan documents, sales contracts and statements for borrower)
  • address for service
  • address for service in Nova Scotia

You also need to provide details if you or any partner, officer or director has:

  • had a licence or permit refused, suspended or revoked
  • been involved in a personal or corporate bankruptcy
  • unpaid judgments outstanding
  • been convicted of an offence and not been pardoned

Renewal

You need to renew your Lender Permit every 3 years. You should get a renewal package (including instructions) in the mail before the renewal date. It’s your responsibility to renew on time.

Application form