WI sales finance company bonds.
1% of the bond amount.
A sales finance company that buys retail installment contracts from Wisconsin dealers is licensed under Wis. Stat. 218.0114, and subsection (5)(b) requires a bond or irrevocable letter of credit in a form acceptable to the division of banking, in an amount not less than $25,000, payable to the State of Wisconsin. The premium is 1% of the bond amount, $100 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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Three steps. One sitting.
Sales finance company bonds are a straightforward filing. Here's the entire process:
Apply online
Business details, your bond amount, an effective date, and a term. Any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
The premium is 1% of the bond amount with a $100 minimum, and the bond issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with the division of banking
Your executed bond arrives by email, ready to file with your sales finance company license application. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
A sales finance company is a business that buys or otherwise acquires retail installment contracts — most often motor vehicle paper — from Wisconsin dealers. Licensing sits in the Wisconsin motor vehicle dealer law at Wis. Stat. 218.0114, with the bond administered by the division of banking.
Subsection (5)(b) requires the applicant or licensee to provide a bond or irrevocable letter of credit in a form acceptable to the division of banking, in an amount not less than $25,000, issued by a surety company licensed to do business in this state. The bond is payable to the State of Wisconsin for the use of the state and of any person who sustains a loss because of an act of the sales finance company that would be grounds for suspension or revocation of the license.
It is not insurance for you — if the surety pays a claim, you repay the surety. The security has to stay continuously in force for as long as you hold the license; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — business details, your bond amount, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Wisconsin bonds.
Finish your sales finance license today.
1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.