(a)
This division shall be liberally construed and applied to promote its underlying purposes and policies, which are:
(1)
To ensure an adequate supply of credit to borrowers in this state.
(2)
To simplify, clarify, and modernize the law governing loans made by finance lenders.
(3)
To foster competition among finance lenders.
(4)
To protect borrowers against unfair practices by some lenders, having due regard for the interests of legitimate and scrupulous lenders.
(5)
To permit and encourage the development of fair and economically sound lending practices.
(6)
To encourage and foster a sound economic climate in this state.
(b)
Consumer loans, as defined in Sections 22203 and 22204, are subject to this chapter, Chapter 2 (commencing with Section 22200), Article 1 (commencing with Section 22700) of Chapter 4, and Article 2 (commencing with Section 22750) of Chapter 4.
(c)
Commercial loans, as defined in Section 22502, are subject to this chapter, Chapter 3 (commencing with Section 22500), Article 1 (commencing with
Section 22700) of Chapter 4, and Article 3 (commencing with Section 22780) of Chapter 4.