Maryland installment loan license bonds.
$500 flat.
Maryland licenses installment lenders through the Office of Financial Regulation. Md. Code, Fin. Inst. § 11-303 makes it unlawful to do installment-loan business, or make more than five installment loans a year, without a license, and the licensing provisions require a surety bond of at least $50,000. Ours is $500 flat.
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How much does a Maryland installment loan license bond cost?
$500 at the $50,000 amount, the same for every applicant.
Three steps. One sitting.
Installment loan license bonds are one of the simplest filings in Maryland licensing. Here's the entire process:
Apply online
Business details, an effective date, and a term. That is the application — no financial statements, and any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
This bond is checkout-priced at $500 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File through NMLS
Upload the executed bond to your NMLS record for the Maryland Office of Financial Regulation. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Maryland regulates installment lending under Title 11, Subtitle 3 of the Financial Institutions Article. Fin. Inst. § 11-303 makes it unlawful to engage in the business of making installment loans — or to make more than five installment loans in a calendar year — without a license from the Commissioner of Financial Regulation, and § 11-304 applies the Consumer Loan Law licensing provisions, including the surety bond in § 11-206.
It's a three-party arrangement: you (the principal), the surety carrier, and the Commissioner as obligee, for the benefit of the State and anyone with a cause of action against you under the law. The bond stands behind your compliance with Maryland's installment-lending rules and the payment of money you owe the State or injured borrowers.
It is not insurance for you — if the surety pays a claim, you repay the surety. The surety's liability is continuous and runs for three years after the bond is cancelled or the license ends, so the bond has to stay on file the whole time you're licensed; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $50,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File through NMLS. Upload the executed bond to your NMLS record for the Maryland Office of Financial Regulation. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $500 at the $50,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields — business details, an effective date, and a term. That is the application.
Start the application →Common questions.
Other Maryland bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your installment loan license today.
$500 flat, issued the moment you pay, soft pull only. Free until issued.