MN collection agency bonds — corporation or LLC.
0.5% of the bond amount.

The Minnesota collection agency license bond, executed on the Department of Commerce form for a corporate or LLC principal. Minn. Stat. § 332.34 requires every licensee to file and maintain a corporate surety bond of at least $50,000, growing with prior-year Minnesota collections to a $100,000 cap. Ours is 0.5% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft credit pull only — it never affects your score.

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The corporation and LLC version of the Minn. Stat. § 332.34 agency bond

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Amount scales with prior-year collections — $50,000 floor, $100,000 cap

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0.5% of the bond amount, $100 minimum — exact price at the application

0.5% rate$100 minimumInstantissuance at checkoutA-ratedA.M. Best carriers

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How it works

Three steps. One sitting.

Same statute, the corporate signature block. Enter your amount, pay, and file it with your Commerce license:

NOW · ONLINE

Apply online

Entity details, your bond amount, an effective date, and a term. That is the entire application — any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

The premium is 0.5% of the bond amount, $100 minimum — checkout-priced, so the bond issues the moment you pay, executed in the corporation or LLC name.

SAME DAY

File with the Department of Commerce

Your executed bond arrives by email on the corporate form, ready to file with your collection agency license application or renewal. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

Why there is a separate corporate form

The obligation is identical to every other Minnesota collection agency bond: Minn. Stat. § 332.34 directs the Commissioner of Commerce to require each licensee to file and maintain in force a corporate surety bond, in a form the commissioner prescribes, as a standing condition of the license.

What changes is the principal. Commerce publishes the bond form with an execution block matched to the licensee's entity type, so a corporation or limited liability company signs a version naming the company as principal, with an authorized officer or manager attesting. Filing the wrong entity version is the most common reason a bond gets kicked back.

The penal sum still starts at $50,000 and grows by $5,000 for each $100,000 received from Minnesota debtors in the previous calendar year, less commissions earned, capped at $100,000. It is not insurance for you — if the surety pays a claim, the company repays the surety. We track the term and send renewal notices 60 and 30 days out.

Minn. Stat. § 332.34Section 332.34 requires the commissioner of commerce to have each collection agency licensee file and maintain in force a corporate surety bond, in a form prescribed by and acceptable to the commissioner, in a sum of at least $50,000 plus an additional $5,000 for each $100,000 received from debtors located in Minnesota during the previous calendar year, less commissions earned on those collections; the total bond may not exceed $100,000. Commerce publishes the form with execution blocks matched to the licensee's entity type.

You need this bond if you're

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A corporation or LLC applying for a Minnesota collection agency license

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Renewing a corporate agency license — the bond must stay continuously in force

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Refiling after an entity change — a conversion to an LLC needs the matching bond form

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Raising your bond amount after a year of higher Minnesota collections

One application, issued instantly.

These are the actual issuing fields — entity 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 corporate Minnesota collection agency bond?The premium is 0.5% of the bond amount, $100 minimum — the same rate as every other entity version. A $50,000 bond runs $250, $75,000 runs $375, and the $100,000 cap runs $500. Your exact price appears at the application.

How is this different from the standard collection agency bond?Only the execution block. Minnesota publishes the collection agency bond with signature versions matched to the principal — corporation or LLC, partnership, or individual. The statutory obligation and the amount formula in Minn. Stat. § 332.34 are identical.

What bond amount do I need?At least $50,000, plus $5,000 for every $100,000 your agency received from Minnesota debtors last calendar year, less commissions earned on those collections, capped at $100,000. Confirm the figure with the Department of Commerce.

Is there a credit check?If a credit screen runs on this bond, it is a soft credit pull only — never a hard inquiry, and it never affects your score. The rate stays 0.5% of the bond amount, $100 minimum, either way.

Who requires the bond, and where do I file it?The Minnesota Commissioner of Commerce, who licenses collection agencies under Minn. Stat. ch. 332. The executed corporate bond is filed with your license application or renewal.

Related bonds

Other Minnesota bonds.

Corporate collection agency bond, filed today.

0.5% of the bond amount, $100 minimum, issued the moment you pay. Soft pull only. Free until issued.

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Your premiumfrom $100

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