VA consumer finance lender bonds.
1% of the bond amount — $250 at the $25,000 statutory minimum.

Virginia's Consumer Finance Act licenses companies that make consumer loans through the State Corporation Commission, and Va. Code § 6.2-1523.3 requires every licensee and applicant to file and continuously maintain a surety bond of at least $25,000 — up to $500,000 if the Commission requires more. Our premium is 1% of the bond amount — $250 at the $25,000 statutory minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.

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Required to hold a Virginia consumer finance license under Va. Code § 6.2-1523.3

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$25,000 minimum, $500,000 maximum — the Commission sets your figure

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1% of the bond amount — $250 at the $25,000 statutory minimum — exact price at the application, issued the moment you pay

1% rate$250 at the $25,000 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

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How it works

Apply to filed in one sitting.

The consumer finance bond is priced off the penal sum, not an underwriting file. Here is the whole thing:

NOW · ONLINE

Apply online

Company details, the bond amount the Commission requires, an effective date, and a term. Any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

Pricing is 1% of the bond amount ($250 at the $25,000 statutory minimum), so the bond issues the moment you pay — your executed bond and power of attorney generate on the spot.

SAME DAY

File with the Bureau of Financial Institutions

Submit the executed bond with your consumer finance license application or renewal. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

Chapter 15 of Title 6.2 — the Consumer Finance Act — licenses companies that make consumer loans in Virginia through the State Corporation Commission's Bureau of Financial Institutions. Under § 6.2-1523.3, every licensee and every applicant must file and continuously maintain in full force a surety bond in the sum of $25,000, or such greater sum as the Commission may require, not to exceed $500,000.

The bond is conditioned on the licensee performing all written agreements with borrowers and prospective borrowers, correctly and accurately accounting for all funds received in the licensed business, and conducting that business in conformity with the chapter and all applicable law. Separately, the Act requires a licensee to maintain unencumbered liquid assets of at least $25,000 per licensed location — that is a capital test, not something the bond replaces.

It is a three-party arrangement: you (the principal), the surety carrier, and the Commonwealth (the obligee), with damaged borrowers able to proceed against the bond. It is not insurance for you — if the surety pays a claim, you repay the surety. We track your term and send renewal notices 60 and 30 days out.

Va. Code § 6.2-1523.3 · 10VAC5-60-15Section 6.2-1523.3 of the Code of Virginia requires a consumer finance license application to be accompanied by a bond filed with the Commissioner, with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $25,000 or such greater sum as the Commission may require, not to exceed a total of $500,000. The bond is conditioned upon the applicant or licensee performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received in the licensed business, and conducting that business in conformity with the chapter and all applicable law; the Commission's rule at 10VAC5-60-15 carries the same $25,000 minimum.

You need this bond if you're

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Applying for a Virginia consumer finance license with the Bureau of Financial Institutions

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Renewing an existing license — the bond must stay continuously in force

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Raising your bond at the Commission’s request — up to the $500,000 statutory ceiling

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Adding licensed locations and refreshing the security the Commission requires

One application, issued instantly.

These are the actual issuing fields — company details, the bond amount, an effective date, and a term. That is the entire application.

Start the application →

FAQ

Common questions.

How much is the Virginia consumer finance lender bond?The premium is 1% of the bond amount — $250 at the $25,000 statutory minimum. A licensee posting the $25,000 statutory floor pays $250; at $100,000 the premium works out to $1,000. Your exact price appears at the application, before you pay.

What bond amount does the Commission require?At least $25,000 under Va. Code § 6.2-1523.3, or a greater sum the Commission sets, capped at $500,000. Post the figure on your Bureau of Financial Institutions notice.

Does the bond replace the liquid asset requirement?No. The Act separately requires a licensee to maintain unencumbered liquid assets of at least $25,000 per licensed location. The surety bond is an additional, distinct requirement.

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. The rate stays 1% of the bond amount either way.

Where do I file it?With the State Corporation Commission’s Bureau of Financial Institutions, alongside your consumer finance license application or renewal. Your e-signed bond arrives by email ready to submit.

Related bonds

Other Virginia bonds.

File your consumer finance bond today.

1% of the bond amount — $250 at the $25,000 statutory minimum, issued the moment you pay. Soft pull only.

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Your premiumfrom $250

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