Alaska Deferred Deposit Advance Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing – Deferred Deposit Advance Company
Deferred deposit advance companies (payday loan lenders) operating in Alaska are regulated by the state’s Division of Banking and Securities.
One of two surety bond amounts is required:
- If you have one location, a $25,000 surety bond amount;
- If you have more than one location, a $50,000 surety bond amount is required.
This bond is also referred to as the ‘Alaska deferred deposit advance act bond’.
Qualifying and the Premium
$25,000 Surety Bond Amount: You are automatically approved for the $25,000 Alaska deferred deposit advance bond. There is no credit check. The premium is just $188 annually.
After signing and completing an application, which we’ll begin with you over the phone, our agency will issue your bond along with a POA (Power of Attorney) form to you.
$50,000 Surety Bond Amount: For this surety bond amount, in addition to the above, there is an underwriter review which includes a credit check. Good credit is required for approval; the annual premium is $375.
In both cases, after approval of your bond and payment of the premium, our agency issues your bond to you. Upon receipt by mail, you’ll sign your bond as Principal and file it along with the POA form to:
State of Alaska
Department of Commerce, Community & Economic Development
Division of Banking & Securities
PO Box 110807
Juneau, AK 99811-0807
Premium Prepayment Options
Either surety bond amounts may be prepaid up to 3 years, thereby offering you a savings over annual renewals. The premium prepayment amounts and savings are as follows:
–$25,000 surety bond–
- If prepaid for 2 years, the premium is $338, a $38 savings;
- If prepaid for 3 years, the premium is $489, a $75 savings.
–$50,000 surety bond–
- If prepaid for 2 years, the premium is $675, a $75 savings;
- If prepaid for 3 years, the premium is $975, a $150 savings.
Purpose of Your Surety Bond Requirement
The bond is a financial guarantee of your compliance with the following statutes, as amended. This includes AS 06.050.040.
The bond guarantees that you’ll pay to the state and any persons all money that may be owed to them in accordance with the laws regulating payday lending companies.
About Our Surety Agency
AmeriPro Surety Bonds is a surety bonds-only agency we provide payday lender bonds nationwide.
We also provide license and permit, court, probate and other surety bonds in Alaska and all 50 states.
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