OH nonprofit short-term lender bonds.
From $100. Enter your amount.

This is the short-term loan license bond for a nonprofit corporation incorporated under ORC Chapter 1702. Division (D) of ORC 1321.37 sets the penal sum at $50,000 for a nonprofit applicant or licensee — instead of the $100,000 every other short-term lender posts — running in favor of the Superintendent of Financial Institutions for the exclusive benefit of injured borrowers. The premium is 1% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.

✓

The nonprofit penal sum — $50,000, not the $100,000 other licensees post

✓

Set by ORC 1321.37(D) for a nonprofit corporation incorporated under Chapter 1702

✓

1% of the bond amount, $100 minimum — your exact price appears at the application

1% rate$100 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

Trusted by industry leaders

How it works

Apply to filed in one sitting.

No quote round-trip on the nonprofit short-term lender bond — enter your penal sum, pay, and file. Here is the whole thing:

NOW · ONLINE

Apply online

Your nonprofit entity details, officers, the $50,000 penal sum, and an effective date. Any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

The premium is 1% of the bond amount, $100 minimum — your exact price appears before you pay, and the bond issues the moment you do.

SAME DAY

File with the Superintendent

Your executed bond arrives by email, ready to upload to NMLS or file with the Superintendent of Financial Institutions with your nonprofit license application.

About this bond

What it is and who needs it.

Why nonprofits post a different number

Ohio's Short-Term Loan Act, ORC 1321.35 to 1321.48, licenses short-term consumer lenders through the Superintendent of Financial Institutions, and division (D) of ORC 1321.37 makes a corporate surety bond a condition of getting and keeping the license. The statute carves out one class: a nonprofit corporation incorporated under ORC Chapter 1702.

For that nonprofit applicant or licensee, the penal sum is fifty thousand dollars rather than the hundred thousand every other licensee posts. Everything else is the same: the bond runs in favor of the Superintendent, exists for the exclusive benefit of any borrower injured by a violation of the Act by the licensee or its employees, and has to line up with the license term.

It is not insurance for the nonprofit — if the surety pays a borrower's claim, the organization repays the surety. The bond has to be in place at all times during the license period; we track the term and send renewal notices 60 and 30 days out.

ORC 1321.37(D)Division (D) of section 1321.37 of the Revised Code requires each applicant for and holder of an Ohio short-term loan license to obtain and maintain at all times a corporate surety bond in favor of the superintendent of financial institutions, for the exclusive benefit of any borrower injured by a violation of sections 1321.35 to 1321.48 of the Revised Code by a licensee or any employee of a licensee. The penal sum is at least one hundred thousand dollars, except that for an applicant or licensee that is a nonprofit corporation incorporated under Chapter 1702 of the Revised Code the bond is in the amount of fifty thousand dollars. The bond term corresponds to the license term and a copy is filed with the superintendent.

You need this bond if you're

✓

A Chapter 1702 nonprofit corporation applying for an Ohio short-term loan license

✓

Renewing a nonprofit short-term lender license — the bond term lines up with the license term

✓

A mission lender or CDFI incorporated as an Ohio nonprofit and making short-term consumer loans

✓

Replacing a bond your current surety cancelled or declined to renew

One application, issued instantly.

These are the actual issuing fields — entity details, officers, the penal sum, and an effective date.

Start the application →

FAQ

Common questions.

How much is the Ohio nonprofit short-term lender bond?The premium is 1% of the bond amount, $100 minimum. ORC 1321.37(D) sets the nonprofit penal sum at $50,000, so your exact price appears at the application once you enter the amount — before you pay.

Who qualifies for the $50,000 penal sum?An applicant or licensee that is a nonprofit corporation incorporated under Chapter 1702 of the Revised Code. Every other short-term lender posts at least $100,000 under the same division.

Do I pay the $50,000?No. You pay the premium — 1% of the penal sum, $100 minimum. The penal sum is the surety's maximum liability if valid borrower claims are made against the bond, not a deposit.

Is there a credit check?If a credit screen runs on this bond, it is a soft pull only — never a hard inquiry, and it never affects your score.

Who is the obligee?The Superintendent of Financial Institutions, with the bond written for the exclusive benefit of borrowers injured by a violation of ORC 1321.35 to 1321.48.

Related bonds

Other Ohio bonds.

Nonprofit short-term lender bond, issued today.

1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.

Start application

Your premiumfrom $100

Apply now →