SB 5740 Applies to All Commercial Loans Under $2.5MM

 Thus, expanding the Statutes reach. It is worth noting that under New York Usury laws, the charging of interest in excess of 25% on a loan less than $2,500,000.00 is considered criminal usury. Ostensibly now, non-conventional loans under $2.5MM in New York are subject to both SB 5740 and to New York criminal usury.

https://grantphillipslaw.com/new-york-mca-laws-updated/

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