The Legislature finds as facts and determines that:
1. There exists in this state a widespread demand for loans repayable in installments, which loans may or may not be made on substantial security. This demand has been steadily increased by many social and economic factors.
2. The expenses of making and collecting installment loans are necessarily high in relation to the amounts lent.
3. It is the purpose of this chapter to:
(a) Bring under public supervision those engaged in the business of making loans;
(b) Attract adequate commercial capital to the business, so that the demand for such loans may be satisfied; and
(c) Ensure the availability in this state of adequate, efficient and competitive financial services.