MO SB791

Establishes the "Small Loan Community Reinvestment Program" within the Division of Finance to award grants to nonprofits for educational tutoring, financial literacy, early childhood development, youth mentoring, and senior services in areas with high concentrations of payday and title loan lenders.

Creates a special "Small Loan Community Reinvestment Fund" in the state treasury, funded by one dollar surcharges per title loan and per unsecured loan made by licensed lenders.

Prohibits renewal of unsecured loans of $500 or less and prohibits multiple loans to the same borrower within one business day of satisfying a previous loan.

Allows borrowers to choose loan terms of 30, 60, or 90 days (replacing the previous 14-31 day requirement) with required two installment payments per 30-day period.

Adds early loan repayment protections by requiring prorated fee refunds if borrowers pay principal in full before term end, and allowing full fee refunds if paid within the lender's next full business day.