CA SB976

Amends the California Finance Lenders Law to add community advantage lenders to the list of entities exempted from licensure and regulation by the Department of Financial Institutions

Defines "community advantage lender" as an entity authorized by the United States Small Business Administration to deliver community advantage loans

Maintains existing exemptions for banks, trust companies, savings and loan associations, credit unions, small business investment companies, pawnbrokers, and other specified entities

Effective September 14, 2012