Any person desiring to engage or continue in business in Maine as a loan broker, which includes mortgage brokers arranging or obtaining extensions of credit for consumers. Required when: Application for a new loan broker license or renewal of an existing license. Exemptions: Commercial loan brokers (transactions invol…
Overview
What it is.
Any person desiring to engage or continue in business in Maine as a loan broker, which includes mortgage brokers arranging or obtaining extensions of credit for consumers. Required when: Application for a new loan broker license or renewal of an existing license. Exemptions: Commercial loan brokers (transactions invol…
Who usually needs it
Any person desiring to engage or continue in business in Maine as a loan broker, which includes mortgage brokers arranging or obtaining extensions of credit for consumers.
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.
StateMEBond amount$25,000Term lengthContinuousObligeeMaine Bureau of Consumer Credit ProtectionRenewalThe bond must be maintained continuously while the license is active. Renewals are managed through the Nationwide Multistate Licensing System (NMLS) during the annual license renewal period (November 1 - December 31).Bond classLicense BondCategoryFinancial ServicesBondLoan Broker BondStatutory referenceMaine Revised Statutes Title 9-A, §10-202JurisdictionState
