Virginia consumer finance lender bonds.
From $250.
Virginia's Consumer Finance Act licenses consumer lenders through the State Corporation Commission. Va. Code § 6.2-1523.3 requires every licensee and applicant to keep 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.
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How much does a Virginia consumer finance lender bond cost?
1% of the bond amount, from $250 at the $25,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The consumer finance bond is priced off the penal sum, not an underwriting file. Here is the whole thing:
Apply online
Company details, the bond amount the Commission requires, an effective date, and a term. No credit check up to $25,000.
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.
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.
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.
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 Bureau of Financial Institutions. Submit the executed bond with your consumer finance license application or renewal. Wet-ink originals mailed on request.
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 — company details, the bond amount, an effective date, and a term. That is the application.
Start the application →Common questions.
Other Virginia bonds.
Price and requirements checked on the carrier’s application, . Page updated .
File your consumer finance bond today.
1% of the bond amount — $250 at the $25,000 statutory minimum, issued the moment you pay. No credit check up to $25,000.