Mississippi credit availability bonds.
$100 flat.
To hold a credit availability license in Mississippi you must file with the Commissioner of Banking and Consumer Finance a bond in the penal sum of $10,000, payable to the State of Mississippi — Miss. Code Ann. § 75-67-609(c). The price is $100 flat, and the number you see is the number at checkout. No credit check.
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How much does a Mississippi credit availability bond cost?
$100 at the $10,000 amount, the same for every applicant.
Three steps. One sitting.
The bond is the easy half of the license file. Fingerprints and the application take longer than this does:
Apply online
Entity details, the business location the license will cover, and an effective date. That is the application. No credit check.
Pay & e-sign
Fixed-penal-sum license bonds are among the thousands of bond types that issue right after purchase.
File with the Commissioner
Your executed bond and power of attorney arrive by email, ready to go into your Department of Banking and Consumer Finance application or annual renewal. The bond is not valid until the Commissioner approves it, so file it early.
What it is and who needs it.
What the credit availability bond actually guarantees
The Mississippi Credit Availability Act (Miss. Code Ann. §§ 75-67-601 through 75-67-639) licenses a specific small-dollar product: a fully amortized loan, secured or unsecured, repaid in substantially equal installments over an overall term of four to twelve months. The Department of Banking and Consumer Finance licenses the lenders and the Commissioner holds the security. A transaction made by someone without a valid license is void by statute, so the license — and the bond inside it — is not optional paperwork.
Section 75-67-609(c) makes the bond an eligibility condition: file with the Commissioner a bond with good security in the penal sum of $10,000, payable to the State of Mississippi, conditioned on the licensee’s faithful performance of the duties and obligations of the licensed business and on prompt payment of any judgment recovered against the licensee on account of charges or other claims arising from a violation of the article. An applicant may instead file cash, a certificate of deposit, or government bonds in the same amount; an applicant taking out several licenses may file one bond so long as it carries $10,000 of penal sum per license.
Two operating details matter more than most operators expect. First, the bond is not valid until the Commissioner approves it — filing it is not the same as having it accepted, so leave room in the calendar. Second, the license itself is annual: the initial license fee is $750 and the renewal fee is $475, due on or before September 1 each year, with the license expiring if that fee is unpaid — and never later than September 30 of the year the fee covers. Keep the bond continuous across that line, because a lapse in security is a lapse in eligibility.
You need this bond if you are
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 $10,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The bond runs to September 30 whatever day you buy; the premium covers the period to that date.
Renewal falls on the statutory date, September 30, in the year your term ends.
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 with the Commissioner. Your executed bond and power of attorney arrive by email, ready to go into your Department of Banking and Consumer Finance application or annual renewal. The bond is not valid until the Commissioner approves it, so file it early.
What sets the price
The premium is fixed at $100 at the $10,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other Mississippi bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Get the bond half of your license file done.
$100 flat, a $10,000 penal sum, and the bond is often issued in the same sitting. Free until issued.