Regulatory (e.x. money laundering laws, KYC)2. 

@Sean Wang Beneficial Bank (Philadelphia) lends for amounts less then 50K but they recently merged with WSFS pending regulatory approval.

Learn finance first, underwriting, risk analysis, collateral valuations, your market, regulatory issues and compliance.

In order to take investments from the general public, both my firm (via Form ADV) and the securities I deal with would have to be registered with a regulatory body.This answer is very simplistic, so please don't take it as the final answer to your question.

There are laws and  regulatory codes set in place to protect consumers from unscrupulous groups and individuals.

For a new company, the exam date will be the date any regulatory bunch shows up back to the date the company started, including affiliate and subsidiary entities.

Red striped area represents "regulatory floodway".

Are there regulatory bodies that have to be notified? 

Area looks great from a return perspective, but at a surface level looks like a regulatory minefield.

If not you will be contacting the state regulatory agency to file a complaint and have them investigate if instead of being nuetral they are catering to the bank.