State of California - Surety Bond Of Deferred Deposit Transaction Law Licensee
This bond is required for businesses in California that offer payday loans or cash advances (also called deferred deposit transactions). The state requires these lenders to have a $25,000 bond as financial protection for their customers. If the lender breaks state laws, fails to follow lending rules, or harms consumer…
Overview
What it is.
This bond is required for businesses in California that offer payday loans or cash advances (also called deferred deposit transactions). The state requires these lenders to have a $25,000 bond as financial protection for their customers. If the lender breaks state laws, fails to follow lending rules, or harms consumer…
Who usually needs it
Payday loan companies in California.
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.
StateCABond amount$25,000ObligeeCommissioner of Corporations, State of CaliforniaBond classLicense BondCategoryOtherBondState of California - Surety Bond Of Deferred Deposit Transaction Law LicenseePlain descriptionThis bond is required for businesses in California that offer payday loans or cash advances (also called deferred deposit transactions). The state requires these lenders to have a $25,000 bond as financial protection fo…Who needs this bondPayday loan companies in California.
