Tennessee flexible credit license bonds.
From $100.
Tennessee's Department of Financial Institutions licenses flex loan lenders under the Flexible Credit Act through the NMLS. T.C.A. 45-12-106 conditions the license on a surety bond of $25,000 for each licensed location, capped at $200,000 per licensee. The premium is 1% of the bond amount, $100 minimum.
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How much does a Tennessee flexible credit license bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No long underwriting queue for the standard flex loan bond — enter your amount, pay, and file through NMLS. Here is the whole thing:
Apply online
Your company details, the entity type, the bond amount your license requires ($25,000 per location), and the effective date — that is the application.
Issued
No credit check up to $100,000. No credit check up to $100,000. Above that, the carrier may run a soft pull, which never affects your score.
File through NMLS
Submit the executed bond to satisfy your flexible credit license application or renewal with TDFI. Wet-ink originals mailed whenever the department insists.
What it is and who needs it.
What the flexible credit license bond actually covers
Tennessee's Flexible Credit Act (T.C.A. Title 45, Chapter 12) licenses lenders who make open-end "flex loan" credit — revolving lines of credit offered outside the state's installment-loan and payday-lending statutes. A licensee applies through the NMLS, and the Commissioner of the Department of Financial Institutions reviews the applicant's net worth, business record, and character before issuing the license.
As a condition of licensure, T.C.A. § 45-12-106 requires each licensee to file a surety bond (or an irrevocable letter of credit) in the amount of $25,000 for each location, capped at $200,000 in the aggregate per licensee. The bond is payable to the Commissioner for the benefit of any person injured by the licensee's fraud, misrepresentation, breach of contract, financial failure, or violation of the Act — a person injured can sue on the bond directly, or the Commissioner can bring suit on their behalf in Davidson County Chancery Court.
The bond must stay in force for not less than three years following the expiration, revocation, or surrender of the license, covering claims that surface after you stop operating. Enter $25,000 for each licensed location, up to the $200,000 cap; we price the bond from a $100 minimum, and no credit check up to $100,000.
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 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 through NMLS. Submit the executed bond to satisfy your flexible credit license application or renewal with TDFI. Wet-ink originals mailed whenever the department insists.
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 $100,000. 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, no credit check up to $100,000.
Submit the application with your required bond amount — $25,000 per licensed location. No credit check up to $100,000. Larger aggregate amounts may get a brief underwriter review.
Start the application →Common questions.
Other Tennessee bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Flex loan license waiting on one filing.
Premiums from $100 — your exact price appears at the application. Enter your required amount and file through NMLS the same day.