Florida consumer finance company bonds.
From $250.

Florida licenses consumer finance companies through the Office of Financial Regulation under Chapter 516. An applicant or licensee may provide a surety bond of at least $25,000, plus $5,000 for each additional license up to $100,000 (Fla. Stat. § 516.05). The premium is 1% of the bond amount.

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Part of Chapter 516 consumer finance licensing with the Office of Financial Regulation

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Sized from $25,000 — $5,000 per additional license, $100,000 aggregate cap

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1% of the bond amount — exact price at the application

1% rate$250 at the $25,000 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

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How it works

Three steps. One sitting.

Enter your amount, pay, and file with the Office of Financial Regulation. Here is the whole thing:

NOW · ONLINE

Apply online

Your business details, the bond amount your filing calls for, and the effective date — that is the entire application. Any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

Pricing is a straight 1% of the bond amount, so the bond issues the moment you pay — your executed bond and power of attorney generate on the spot.

SAME DAY

File with the OFR

Submit the executed bond with your consumer finance company license filing at the Office of Financial Regulation. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

Chapter 516 of the Florida Statutes — the Florida Consumer Finance Act — governs lenders making consumer loans and requires a license from the Office of Financial Regulation. Under § 516.05, an applicant or licensee may provide a surety bond of at least $25,000, issued by a company authorized to do business in Florida; a company adding locations provides a rider or bond of at least $5,000 per additional license, with the aggregate never required to exceed $100,000. A certificate of deposit or irrevocable letter of credit in the same amount can substitute.

It's a three-party arrangement: you (the principal), the surety carrier, and the borrowers the Act protects. The bond is for the use and benefit of any borrower injured by acts of the licensee involving fraud, misrepresentation, or deceit — including willful imposition of illegal or excessive charges, or concealment of anything required to be disclosed to a borrower in connection with a Chapter 516 loan.

It is not insurance for you — if the surety pays a claim, you repay the surety. The bond is filed on the state's form (OFR-516-02) and stays on file with your license; we track the term and send renewal notices 60 and 30 days out.

Fla. Stat. § 516.05Section 516.05 of the Florida Consumer Finance Act provides that an applicant or licensee may provide the Office of Financial Regulation a surety bond of at least $25,000 issued by a bonding or insurance company authorized to do business in Florida — with riders or bonds of at least $5,000 for each additional license, capped at a $100,000 aggregate — for the use and benefit of any borrower injured by fraud, misrepresentation, or deceit in connection with a Chapter 516 loan. A certificate of deposit or irrevocable letter of credit may be provided in lieu of the bond.

You need this bond if you're

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Applying for a Florida consumer finance license — Chapter 516 lenders filing with the OFR

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Making consumer loans of $25,000 or less at the rates the Act allows

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Adding licensed locations — a $5,000 rider per additional license, capped at $100,000

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Choosing the bond over collateral — it substitutes for a certificate of deposit or letter of credit

One application, issued instantly.

These are the actual issuing fields — business details, your bond amount, an effective date, and a term. That is the entire application.

Start the application →

FAQ

Common questions.

How much is the Florida consumer finance company bond?The premium is 1% of the bond amount — a $25,000 bond runs $250. The amount you need comes from Fla. Stat. § 516.05: at least $25,000, plus $5,000 for each additional license, capped at $100,000 in aggregate. Your exact price appears at the application.

Do I have to use a bond?No — § 516.05 lets you provide a certificate of deposit or an irrevocable letter of credit in the same amount instead. Most licensees choose the bond because a 1% premium keeps the capital free rather than locked in a deposit.

How fast will I have the bond?Pricing is a straight 1% of the bond amount, so the bond issues the moment you pay — your e-signed bond and power of attorney arrive by email, ready to file with the OFR.

Is there a credit check?If a credit screen runs on this bond, it is a soft pull only — never a hard inquiry, and it never affects your score. The rate stays 1% of the bond amount either way.

Who requires the bond, and where do I file it?The Florida Office of Financial Regulation, Division of Consumer Finance, which licenses consumer finance companies under Chapter 516. The bond is filed on the state form (OFR-516-02) with your license application.

Which A-rated carriers underwrite these bonds?Typically Arch Insurance Company (A.M. Best A+) or Nationwide Mutual Insurance Company (A.M. Best A). Which one writes your bond depends on the bond type and your state. The carrier's name and official signature are printed on the bond you receive.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

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Consumer finance bond, issued today.

1% of the bond amount, issued the moment you pay. Free until issued.

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