Section 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.

What the bond actually guarantees

You need this bond if you're

Your Virginia consumer finance lender bond issues the moment you pay. The executed bond arrives by email, ready to file with the Bureau of Financial Institutions.

VA Consumer Finance Lender Bond: 1% of the bond amount, $250 at the $25,000 statutory minimum. The Va. Code § 6.2-1523.3 bond, filed with the SCC.

Consumer Finance Lender Bond

Final premium can vary based on underwriting factors

How this works?

If you are a non profit select Corporation

All future bond correspondence and renewals will be sent to this address

Clear pricing.Instant issuance.