Statutes regulating the conduct of consumer credit lenders can be found under the Missouri Revised Statutes, § 408.510.
Consumer credit lenders come under the authority of the Missouri Division of Finance. Additionally, such lenders are required to furnish a $100,000 surety bond.
AmeriPro Surety Bonds offers this bond for both new and renewal consumer credit lender applicants. Additionally, we offer two pricing structures for this bond.
The pricing for the $100,000 Missouri credit lender bond is typically accomplished by means of completing a standard surety bond application and submitting to a credit check. Our agency utilizes a soft pull inquiry which will not adversely affect your credit score.
Under this procedure, a well qualified applicant, may expect to pay anywhere between 1% to 2% annually for this bond; that is, between $1,000 to $2,000. However, as credit may vary so likewise the premium required.
A second, easier way to qualify for this bond is for single based pricing. Such pricing also involves no credit check.
To qualify for this pricing, however, you must be able to state that all of the following apply to you:
If you can certify to all of the above, we offer the following pricing for you for this surety bond with no credit check at:
Whether you qualify for standard underwriting or this flat-rate pricing, our agency will work to find you the best surety bond pricing.
The purpose of the Missouri consumer credit lenders bond is a financial guarantee which ensures your compliance with all laws regarding credit lending.
More specifically, the bond is a financial guarantee that you will properly apply all funds received and that you will pay the state of Missouri any money which becomes due.
As principal of this bond, any claim paid by the surety are your responsibility to indemnify.
AmeriPro Surety Bonds is a surety bonds only agency which provides license and permit, court, and fiduciary bonds throughout Missouri. Our agency also provides surety bonds nationwide.
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