This surety bond is required by the Department of Business Regulation. The bond states that the bond holder, or Principal, shall conform to and abide by each and every provision of Title 19, Chapters 14 and 14.1 of the General Laws of Rhode Island 1956, as amended, and all rules and regulations lawfully made by the Director of Business Regulation. The required bond amount is $10,000 for the first location and an additional $5,000 for each extra branch location. In many cases, the premium on this bond is typically as little as $100.
To Acquire a Rhode Island Small Loan Lender Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.