North Carolina Loan Broker Bond
AmeriPro Surety Bonds | 844-589-9732
Loan Brokers – North Carolina
North Carolina loan brokers are licensed persons or companies engaged in the business of arranging loans for people through a third party.
As part of the licensing process, loan brokers must obtain a $10,000 surety bond for the benefit of the North Carolina Secretary of State and the people of the state of North Carolina.
North Carolina Loan Broker Bond: The Premium
The premium or cost of the $10,000 North Carolina loan broker bond will be determined by the following:
- Information you provide to underwriters as part of the surety bond application process;
- Very importantly, your credit score.
As a broad general rule, an applicant with very good credit may pay between 1.5% or 2%, that is, $150 to approximately $200 annually for this bond.
The amount that you will pay, however, will largely be determined by your credit score and may vary somewhat from these numbers.
We at AmeriPro Surety Bonds will work to obtain for you the best surety bond pricing.
The Bond’s Duration
After the bond has been formally issued for filing with the North Carolina Secretary of State, it is active for one year.
An current surety bond must always be on file as a prerequisite for continued activity for loan brokering in the state.
North Carolina Loan Broker Bond: The Purpose
This surety bond exists as a financial guarantee which ensures the public of your compliance with rules governing loan brokering in the North Carolina, particularly the North Carolina Loan Broker Disclosure Act.
The bond exists to protect those persons who can demonstrate financial harm for failing to abide by provisions of the act, which in turn results in some harm. Such harm may be due to fraud, theft, and other acts of malfeasance.
However, the bond will in no instance pay more than the total of the $10,000 face amount.
AmeriPro Surety Bonds is a surety bonds-only which provides license and permit, contractor, court, and fiduciary surety bonds throughout North Carolina.
Our agency also provides surety bonds of all types nationwide.
Please call AmeriPro Surety Bonds today at:
Or, you may have an Surety Agent contact you by filling out the information below.