New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 13A-2

(a) “person” means an individual, a corporation, a partnership and every other organized group of persons;

(b) “loan” means a loan of the type referred to in section 1;  1

(c) “lender” means a person who makes loans; it also includes agents, officers, directors and employees of lenders, and all persons who solicit, arrange for or otherwise participate or assist in the making of loans, or in any way act as an intermediary between a borrower and a lender in effecting loans;

(d) “net loan” means the amount which a borrower contracts to pay to a lender in satisfaction of a loan, less the amount of the interest received in advance on such loan, or added to the amount of such loan;

(e) “average balance owing on a loan” means an amount determined by the application of the formula

      A=N (I + 1) / 2I

in which “A” represents the average balance; “N” represents the amount of the net loan; and “I” represents the number of installments scheduled by the terms of such loan to be paid on such loan;

(f) “advertisement” and “advertise” mean notice by a lender that he makes loans. The terms include the giving of such notice (1) in newspapers, magazines and all periodicals and publications of every nature; (2) by signs, billboards, placards, posters and displays of every nature; (3) by radio or television; (4) by direct mail; and (5) by every other medium of communication, oral, written, visual or otherwise, the purpose or effect of which is to call to the attention of persons that the lender named in such notice makes loans;

(g) “interest” means every charge paid to the lender or contracted for by the lender and the borrower in connection with or as an incident of a loan, whether designated as interest or as a finance charge or otherwise, except that the term does not include the following charges when made pursuant to law: late or delinquency charges; attorneys' and collection fees; insurance premiums, including premiums for credit life insurance; recording or filing fees, and all other charges which may lawfully be made on loans in addition to interest or finance charges.