Any person or business licensed as a check casher who obtains a small loan endorsement (payday lender) or any person licensed to sell checks, drafts, or money orders. Required when: Before the Director of the Department of Financial Institutions grants a license to sell checks or a small loan endorsement. Exemptions: …
Overview
What it is.
Any person or business licensed as a check casher who obtains a small loan endorsement (payday lender) or any person licensed to sell checks, drafts, or money orders. Required when: Before the Director of the Department of Financial Institutions grants a license to sell checks or a small loan endorsement. Exemptions: …
Who usually needs it
Any person or business licensed as a check casher who obtains a small loan endorsement (payday lender) or any person licensed to sell checks, drafts, or money orders.
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.
StateWABond amount$10,000Term lengthContinuousObligeeWashington State Department of Financial Institutions (DFI)RenewalThe bond is continuous and remains in effect until canceled. Licensees must maintain the bond and file an annual assessment report and attestation through the NMLS by April 15th each year.Bond classLicense BondCategoryFinancial ServicesBondSmall Loan Endorsement BondStatutory referenceRCW 31.45.030(5), WAC 208-630-180, WAC 208-630-240, WAC 208-630-250JurisdictionState
