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Alaska Deferred Deposit Advance Bond

The Alaska deferred deposit advance bond is required of payday lenders operating in the state. Qualifying for this bond ($25,000 and $50,000) is easy and the premiums are low — $188, and $375 respectively. Please call us at 844-589-9732.

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.

Please call us today at:

 

844-589-9732

 

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

Apply Today!

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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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Office: 1 (844) 589-9732

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