Loan Broker - Facilitator of a Refund Anticipation Loan
This bond is required for businesses in Maine that help people get quick tax refund loans. If you connect taxpayers with lenders who provide advances on their tax refunds, you need this $10,000 bond. It protects consumers by ensuring you follow state laws and act honestly. If you break the rules or harm customers thro…
Overview
What it is.
This bond is required for businesses in Maine that help people get quick tax refund loans. If you connect taxpayers with lenders who provide advances on their tax refunds, you need this $10,000 bond. It protects consumers by ensuring you follow state laws and act honestly. If you break the rules or harm customers thro…
Who usually needs it
Loan brokers in Maine conducting business solely as facilitators of refund anticipation loans or refund anticipation checks must obtain this bond. These are professionals or businesses licensed as refund anticipation loan facilitators who arrange loans repaid from a consumer's income tax refund or tax credits, or who handle sales, assignments, or purchases …
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$10,000ObligeeState of MaineBond classLicense BondCategoryOtherBondLoan Broker - Facilitator of a Refund Anticipation LoanPlain descriptionThis bond is required for businesses in Maine that help people get quick tax refund loans. If you connect taxpayers with lenders who provide advances on their tax refunds, you need this $10,000 bond. It protects consume…Who needs this bondLoan brokers in Maine conducting business solely as facilitators of refund anticipation loans or refund anticipation checks must obtain this bond. These are professionals or businesses licensed as refund anticipation lo…
