A Loan Company Bond is required for businesses that lend money to consumers in Wisconsin. This bond protects borrowers by ensuring the lending company follows all state laws and regulations. If the lender breaks these rules or harms customers through unfair practices, people can file claims against the bond to recover…
Overview
What it is.
A Loan Company Bond is required for businesses that lend money to consumers in Wisconsin. This bond protects borrowers by ensuring the lending company follows all state laws and regulations. If the lender breaks these rules or harms customers through unfair practices, people can file claims against the bond to recover…
Who usually needs it
Loan companies in Wisconsin that offer loans with interest rates of 18% or higher must obtain this bond as a condition of licensure with the Wisconsin Department of Financial Institutions under Wisconsin Statute 138.09. The bond ensures public protection by providing compensation to consumers for financial harm if the loan company fails to comply with licen…
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.
StateWIBond amountVaries by license type or projectObligeeState of WisconsinBond classLicense BondCategoryOtherBondLoan Company BondPlain descriptionA Loan Company Bond is required for businesses that lend money to consumers in Wisconsin. This bond protects borrowers by ensuring the lending company follows all state laws and regulations. If the lender breaks these r…Who needs this bondLoan companies in Wisconsin that offer loans with interest rates of 18% or higher must obtain this bond as a condition of licensure with the Wisconsin Department of Financial Institutions under Wisconsin Statute 138.09.…
