Any person, partnership, or corporation carrying on the business of a collateral loan broker (pawnbroker) in New York. Required when: Required upon application for a new or renewal license to carry on the business of a collateral loan broker.
Overview
What it is.
Any person, partnership, or corporation carrying on the business of a collateral loan broker (pawnbroker) in New York. Required when: Required upon application for a new or renewal license to carry on the business of a collateral loan broker.
Who usually needs it
Any person, partnership, or corporation carrying on the business of a collateral loan broker (pawnbroker) in New York.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNYBond amount$10,000Term lengthAnnualObligeeMayor or local licensing authority of the city or local governing body (e.g., New York City Department of Consumer and …RenewalThe bond must be renewed annually in conjunction with the license renewal and submitted to the local licensing authority.Bond classLicense BondCategoryFinancial ServicesBondCollateral Loan Broker BondStatutory referenceN.Y. Gen. Bus. Law § 41JurisdictionState
