Any person or business entity intending to engage in the business of lending money on the deposit or pledge of personal property, or purchasing personal property with an agreement to sell it back at a later time at a specified price in Pennsylvania. Required when: Required as a prerequisite for obtaining and maintaini…
Overview
What it is.
Any person or business entity intending to engage in the business of lending money on the deposit or pledge of personal property, or purchasing personal property with an agreement to sell it back at a later time at a specified price in Pennsylvania. Required when: Required as a prerequisite for obtaining and maintaini…
Who usually needs it
Any person or business entity intending to engage in the business of lending money on the deposit or pledge of personal property, or purchasing personal property with an agreement to sell it back at a later time at a specified price in Pennsylvania.
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.
StatePABond amount$2,000Term lengthAnnualObligeePennsylvania Department of Banking and SecuritiesRenewalThe bond must be renewed and refiled annually with the Department of Banking and Securities not later than October 1st of each year.Bond classLicense BondCategoryFinancial ServicesBondPawnbroker BondStatutory reference63 P.S. § 281-5JurisdictionState
