Missouri Consumer Credit Lenders Bond
AmeriPro Surety Bonds | 844-589-9732
Consumer Credit Lenders – Missouri
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.
First Way to Qualify
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 (and with lower pricing)
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:
- That you have never been convicted of a felony;
- Any companies owned or related to you have never gone bankrupt or become insolvent;
- You have never had a surety bond with a claim against it or one that has been canceled;
- You have no pending or unsatisfied judgments, lawsuits, or lien against you or any companies that you own or control;
- Your bond does not guarantee or cover any pollution exposure;
- You have been continuously in business under the current business name, ownership, and location for at least 3 years.
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:
- $750 for one year;
- $1350 if prepaid for 2 years;
- $1950 if prepaid for 3 years.
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 this Bond
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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