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California Deferred Deposit Transaction Law Bond

The $25,000 California deferred deposit transaction law bond costs applicants $188 annually. Please call AmeriPro Surety Bonds at 844-589-9732.

California Deferred Deposit Transaction Law Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Licensing of California Payday Loan Lenders

 

 

 

California’s Deferred Deposit Transaction Law refers to payday loan lenders. Such businesses are licensed and regulated by the state’s Department of Business Oversight.

Among meeting other requirements, applicants for the payday loan lender license must have a minimum net worth of $25,000, and furnish the Department with evidence of financial responsibility by obtaining a $25,000 surety bond.

The surety bond may also be referred to as a California payday loan lender bond.

 

 

 

Qualifying and the Premium

 

 

 

You are automatically approved for the $25,000 California deferred deposit transaction law bond. There is no credit check nor underwriter review; our agency issues this bond to you immediately.

The premium is $188 annually. Our agency, however, will need a signed application from you.

Upon receipt of your signed application and payment of the premium, our agency issues you the following items needed for filing:

  • The surety bond;
  • A Power of Attorney;
  • A jurat from our agency as Surety.

After signing your original bond, you’ll file it to:

State of California

Los Angels Office of the Department of Business Oversight

320 West 4th Street, Suite 750

Los Angeles, CA 90013-2344

 

 

 

Premium Prepayment Options

 

 

 

The premium for your CA deferred deposit transaction law bond renews annually on the anniversary of your.

You may prepay this surety bond up to 3 years, thereby saving over annual renewals and lengthening the time between renewals.

The premium prepayment option and savings are as follows:

  • If prepaid for 2 years, the premium is $338, a $38 savings;
  • If prepaid for 3 years, the premium is $489, a $75 savings.

 

 

 

Purpose of Your Surety Bond

 

 

 

The deferred deposit transaction license surety bond serves two main purposes:

  • that you will observe all laws and regulations as a payday lender in the course of your business and professional activities;
  • and that you will pay and account for any money owed to the Department of Business Oversight.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and probate surety bonds in all 50 states and Washington D.C.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will contact you…

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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