Every credit services business operating in Virginia that sells, provides, or performs services for the purpose of improving a consumer's credit record, history, or rating, or obtaining an extension of credit for a consumer. Required when: Before the credit services business enters into a contract with a consumer. Exe…
Overview
What it is.
Every credit services business operating in Virginia that sells, provides, or performs services for the purpose of improving a consumer's credit record, history, or rating, or obtaining an extension of credit for a consumer. Required when: Before the credit services business enters into a contract with a consumer. Exe…
Who usually needs it
Every credit services business operating in Virginia that sells, provides, or performs services for the purpose of improving a consumer's credit record, history, or rating, or obtaining an extension of credit for a consumer.
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 amountThe bond amount must be equal to 100 times the standard fee charged by the cred…Term lengthContinuousObligeeVirginia Department of Agriculture and Consumer Services, Office of Charitable and Regulatory ProgramsRenewalThe bond is continuous and remains in effect until canceled. The surety may cancel the bond by giving 60 days' written notice to the Commissioner. The bond must be maintained for a period of two years after the date the…Bond classLicense BondCategoryAgricultureBondCredit Services Business BondStatutory referenceCode of Virginia § 59.1-335.4JurisdictionState
