1 (844) 589-9732

Minnesota Cosmetology School Bond

The Minnesota cosmetology school bond is a minimum $10,000 surety bond required of licensees. Higher amounts are based on the anticipated fees and tuition; or for existing licensees, a percentage of fees received. Please call AmeriPro Surety Bonds today at 844-589-9732.

Minnesota Cosmetology School Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Cosmetology Schools – Minnesota

 

 

 

Cosmetology schools in Minnesota are licensed and regulated by the state’s Board of Cosmetology. The provides an application for candidates in a pdf format.

As of this writing, the licensing for a Minnesota cosmetology school has a $4,000 license fee. Additionally, you are required to furnish the appropriate surety bond (which the state lists under Step 9).

Our agency will help you to purchase the required surety bond whether this is your first time or you require a renewal surety bond.

 

 

 

Amount of Surety Bond Required

 

 

 

The Minnesota cosmetology school bond has a minimum amount of $10,000; however, if you are a new school, you must post a bond in the amount that you anticipate will be received from students in the form of tuition and other fees.

If you are an existing school, the amount of surety bond required must be at least 10% of the gross tuition, fees, and other “institutional charges” received. The minimum amount is still $10,000.

Furthermore, you are required to file a separate surety bond for each location of your cosmetology school.

And, at the time of the filing of your surety bond, you must also include an explanation which explains to the Board of Cosmetology how you arrived at the amount required.

 

 

 

Qualifying & the Premium

 

 

 

For the $10,000 surety bond, qualifying is by completion of a standard surety bond application and paying, the $100 premium, and the bond is issued to you immediately. There is no credit check nor underwriting for the $10,000 surety amount.

Amounts greater than $10,000 will have the same application and the additional requirements of review by an underwriter along with a credit inquiry.

The premium is an estimate only, but will typically be about 1% of the amount required; however, the amount required may be higher.

 

 

 

Its Purpose

 

 

 

The purpose of your cosmetology school bond is to serve as a financial guarantee which products your students from financial loss due to a breach of contract by a licensed school against any student.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Minnesota.

We also provide surety bonds nationwide.

Please call us today at:

 

 

 

844-589-9732

 

 

 

Or, you may fill out the form below and an 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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