Mississippi Small Loan Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose
The Mississippi small loan bond (also referred to as a small loan privilege tax bond) is a $1,000 surety bond required of businesses which are licensed to lend money pursuant to the state’s Small Loan Privilege Tax Law as amended.
The surety bond amount of $1000 is required per location of your business, but qualifying is instantaneous.
The purpose of your surety bond requirement is to serve as a financial guarantee that you’ll comply with all laws regarding monetary, and that you will correctly discharge all indebtedness resulting from your business operations.
Qualifying and the Premium
You are automatically approved for the $1000 Mississippi small loan surety bond up to a $50,000 surety bond requirement without a credit check.
If applicable, amounts greater than $50,000 require a signed and witnessed application, along with a credit check.
But most applicants will not likely require a bond this size. The premium amounts are very reasonable. A $50,000 small loan surety bond, for example, will have a premium of just $375, annually.
We will take the application from you over the phone. Upon completion of the short surety bond application and payment of the premium, our agency issues your bond and a Power of Attorney form to you immediately.
We will sign and have your bond notarized as Surety; upon receipt, you’ll have your bond notarized as Principal.
It will then be your duty to file all surety bond documents to:
State of Mississippi
Department of Banking and Consumer Finance
550 High Street, Suite 304
Jackson, Mississippi 39202
Term of Your Surety Bond
Your bond is issued with a standard one year term. Options are presented to you to prepay your premium, which offers you a savings over annual renewals.
This option works best for those who anticipate the amount of surety required to remain constant.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Mississippi and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will call you…