Missouri Title Loan Lenders Bond
AmeriPro Surety Bonds | 844-589-9732
Title Loans – Missouri
Missouri title loan lenders refers to those who are engaged in the profession of lending to consumers based on mainly, but not exclusively, real property, particularly automobiles.
Licensing and the surety bond requirement are mandated by statute and administered by the Missouri Division of Finance which oversees the regulations of title lenders.
Missouri Title Loan Lenders Bond: Amount Required
According to the Revisor of Statutes, §367.509 the Missouri title loan lenders bond is a $20,000 surety bond required, per location.
Additionally, the bond should accompany your application submitted to the Division of Finance.
The Premium or the Cost to You
Our agency offers the title loan lenders bond with no credit check and no underwriting.
Once you complete the application and pay the premium, the bond is issued to you immediately.
After issuance, a copy of the bond can be emailed to you for no additional charge, and the original bond with the wet signature will follow in the same day.
Pricing for your title loan lender surety bond is as follows:
- $150 for one year;
- $270 if prepaid for 2 years;
- $390 if prepaid for 3 years.
Purpose of the Surety Bond Requirement
The Missouri title loan lenders bond is a financial guarantee which ensures your compliance with all laws, statutes, and regulations governing title lending in the state. Included are any amendments to any existing or future laws.
More specifically, the is a pledge that you will apply all funds received, and pay all monies owed to the state of Missouri and consumers in accordance with the law.
As principal of this surety bond, you are responsible to indemnify the surety for any claims paid against your bond.
AmeriPro Surety Bonds is a surety bonds only agency. We provide court, license and permit, and fiduciary surety bonds throughout Missouri.
We also provide surety bonds nationwide.
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