This bond is required for businesses in Virginia that provide consumer financing services, such as personal loans or credit services. The Commonwealth of Virginia requires this bond to protect consumers from potential financial harm if the company violates state lending laws or engages in unfair practices. The bond am…
Overview
What it is.
This bond is required for businesses in Virginia that provide consumer financing services, such as personal loans or credit services. The Commonwealth of Virginia requires this bond to protect consumers from potential financial harm if the company violates state lending laws or engages in unfair practices. The bond am…
Who usually needs it
Consumer finance companies operating in Virginia that provide personal loans or consumer financing services for personal, family, or household purposes must obtain this bond as required under Virginia Code Title 6.2, Chapter 15. The bond is mandatory for all applicants and licensees of consumer finance company licenses and must be continuously maintained.
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.
StateVABond amountVaries by license type or projectObligeeCommonwealth of VirginiaBond classLicense BondCategoryOtherBondConsumer Finance Company CCB 4409Plain descriptionThis bond is required for businesses in Virginia that provide consumer financing services, such as personal loans or credit services. The Commonwealth of Virginia requires this bond to protect consumers from potential f…Who needs this bondConsumer finance companies operating in Virginia that provide personal loans or consumer financing services for personal, family, or household purposes must obtain this bond as required under Virginia Code Title 6.2, Ch…
