California Consumer Finance Lender Bond (CFL)

Bond Details

• CA Consumer Finance Lender Bond – $25,000 bond – $250 per year
• CA Consumer Finance Lender Bond – $50,000 bond – $500 per year
• CA Consumer Finance Lender Bond – $100,000 bond – $1,000 per year
• CA Consumer Finance Lender Bond – $200,000 bond – $2,000 per year

Overview

Licensees licensed under the California Financial Law (CFL) must obtain a surety bond in an amount based upon the aggregate funded loan volume the previous year. The bond amount varies from $25,000 to $200,000, according to the scale below defined by the DFPI. The bond premium (cost) is 1% of the bond amount. Bonds are issued electronically in the NMLS system (ESB).

• No credit check is required
• No financials required