Section 81-19-9 of the Mississippi Consumer Loan Broker Act requires each license application to be accompanied by evidence of a surety bond in an amount of $25,000, issued by a company authorized to do business in Mississippi and approved by the commissioner. The bond runs in favor of the State of Mississippi to discharge unsatisfied indebtedness or liability of the licensed consumer loan broker to the state, any political subdivision, or any person who may have a cause of action against the broker by reason of the broker’s conduct as a licensed consumer loan broker. The surety may cancel on sixty days’ written notice to the commissioner, and the commissioner shall require a new $25,000 bond whenever he has knowledge that a licensee’s bond has expired, is about to expire, or is insecure. The $300 annual license fee is charged for each licensed location.

What the bond actually guarantees

You need this bond if you're

Your executed consumer loan broker bond is issued ready to file with the Mississippi Department of Banking and Consumer Finance.

MS Consumer Loan Broker Bond: 1% of the bond amount, $100 minimum, for the $25,000-per-location bond under Miss. Code § 81-19-9. Issued instantly.

Consumer Loan Broker Bond

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.