IL payday loan bonds.
From $100. Enter your amount.

Illinois' Payday Loan Reform Act requires a licensed lender to post a bond to the Department of $50,000 for each location where loans will be made, up to a $500,000 maximum, under 815 ILCS 122/4-15. The premium is 1% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.

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Required for an Illinois payday lender license under 815 ILCS 122/4-15

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Amount is $50,000 per lending location — up to a $500,000 maximum

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1% of the bond amount, $100 minimum — exact price at the application

1% rate$100 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

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How it works

Apply to filed in one sitting.

Enter your amount, pay, and file with IDFPR. Here is the whole thing:

NOW · ONLINE

Apply online

Business details, the bond amount for your locations, an effective date, and a term. Any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

The premium is 1% of the bond amount, $100 minimum — a single-location $50,000 bond prices at $500 — and the bond issues the moment you pay, executed bond and power of attorney on the spot.

SAME DAY

File with IDFPR

Submit the executed bond with your payday lender license filing at the Department of Financial and Professional Regulation. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

The Payday Loan Reform Act, 815 ILCS 122, governs Illinois payday lending — licensing, the consumer reporting database, fee caps, and repayment protections. Section 4-15 requires a licensee to post a bond to the Department of $50,000 for each location where loans will be made, up to a maximum of $500,000.

It's a three-party arrangement: you (the principal), the surety carrier, and the Department of Financial and Professional Regulation (the obligee). The bond stands behind the damages and penalties that can flow from violations of the Act — the fee limits, rollover restrictions, and database duties that protect Illinois borrowers.

It is not insurance for you — if the surety pays a claim, you repay the surety. The Act requires the bond to continue for the period of licensure and for 3 additional years, so plan for the tail; we track the term and send renewal notices 60 and 30 days out.

815 ILCS 122/4-15Section 4-15 of the Illinois Payday Loan Reform Act requires a licensed lender to post a bond to the Department in the amount of $50,000 for each location where loans will be made, up to a maximum bond amount of $500,000. The bond must remain available to address damages and penalties from violations of the Act, continuing for the period of licensure and for 3 additional years.

You need this bond if you're

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Applying for an Illinois payday lender license — the bond files with your IDFPR application

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Adding a lending location — each location adds $50,000, up to the $500,000 cap

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Renewing your license — the bond must stay continuously in force

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Winding down — the Act keeps the bond in effect for 3 years after licensure ends

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 Illinois payday loan bond?The premium is 1% of the bond amount, $100 minimum. A single-location $50,000 bond is $500; your exact price appears at the application, before you pay.

What bond amount do I enter?$50,000 for each location where loans will be made, up to the $500,000 statutory maximum. One storefront means $50,000; five means $250,000.

How fast will I have the bond?It issues the moment you pay — your e-signed bond and power of attorney arrive by email, ready to file with your IDFPR license application.

How long does the bond stay in effect?For the period of licensure and 3 additional years — the tail is written into Section 4-15 so claims can be addressed after a license ends. We track the term and send renewal notices before each expiration.

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.

Related bonds

Other Illinois bonds.

Payday lender bond, issued today.

1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.

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