Section 5 of the Motor Vehicle Sales Finance Act requires a bond, in the form prescribed by the administrator, in the penal sum of $20,000.00 to accompany the first application for license as a sales finance company, applicable only to the principal place of business — executed to the State of Michigan, conditioned on compliance with the act and payment of money due to the state or any person. A reduced $5,000.00 sum applies to applicants already licensed under Michigan’s mortgage or regulatory loan acts.

What the bond actually guarantees

You need this bond if you're

Checkout-priced bonds like this issue the moment you pay. Your e-signed bond will arrive by email, ready to file with your license application.

MI Sales Finance Company Bond: $200 flat for the $20,000 main-office bond a first license application carries under MCL 492.105. Issued instantly.

Sales Finance Company Bond — Main Office ($20,000)

Michigan - Non-Depository Sales Finance Company- Main Office ($20,000)

Final premium can vary based on underwriting factors

How this works?

If you are a non profit select Corporation

All future bond correspondence and renewals will be sent to this address

Clear pricing.Instant issuance.