http://codes.ohio.gov/orc/1109.20v1

Does anyone charge a minimum finance charge on their loans? For example, if the loan pays off early we are thinking about charging $100 minimum finance charge. From what I can determine on the link above to the ORC, I think we would be ok. I just want to see if anyone else has already researched this and confirm.

Just be aware you are proposing to impose a prepayment penalty under Regulation Z.

Thanks for the heads up on that Randy. We did come accross that during our research so will disclose it accordingly. I believe this will only be on consumer non-real estate loans only.