Ohio nonprofit short-term lender bonds.
From $100.
This is the short-term loan license bond for a nonprofit corporation incorporated under ORC Chapter 1702, in favor of the Superintendent of Financial Institutions. ORC 1321.37(D) sets the nonprofit penal sum at $50,000 instead of the $100,000 other short-term lenders post. The premium is 1% of the bond amount, $100 minimum.
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How much does an Ohio nonprofit short-term lender bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. 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:
Apply online
Your nonprofit entity details, officers, the $50,000 penal sum, and an effective date. No credit check up to $25,000.
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.
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.
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.
You need this bond if you're
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 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
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 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.
What sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $25,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields — entity details, officers, the penal sum, and an effective date.
Start the application →Common questions.
Other Ohio bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Nonprofit short-term lender bond, issued today.
1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.