How much does a licensed lender bond cost in Delaware?
The Delaware Office of the State Bank Commissioner requires licensed lenders to post surety bonds in varying amounts. The required bond amount will be between $50,000 & $200,000 and is determined by the annual volume of loan agreements the applicant contracts.
The premium of these bonds is subject to underwriting, so the price you’ll pay for your bond depends not only on your required bond amount but also on a review of the applicant’s qualifications. However, highly qualified applicants may be approved for as little as 1-3% of their total bond amount.
|Bond Type||Bond Amount||Cost*|
|$50,000 Licensed Lender Bond annual volume is $23,000,000 or less||$50,000||Starts at $500||GET A QUOTE|
|$75,000 Licensed Lender Bond annual volume is $23,000,001 - $35,000,000||$75,000||Starts at $750||GET A QUOTE|
|$100,000 Licensed Lender Bond annual volume is $35,000,001 - $47,000,000||$100,000||Starts at $1,000||GET A QUOTE|
|$125,000 Licensed Lender Bond annual volume is $47,000,001 - $59,000,000||$125,000||Starts at $1,250||GET A QUOTE|
|$150,000 Licensed Lender Bond annual volume is $59,000,001 - $71,000,000||$150,000||Starts at $1,500||GET A QUOTE|
|$175,000 Licensed Lender Bond annual volume is $71,000,001 - $83,000,000||$175,000||Starts at $1,750||GET A QUOTE|
|$200,000 Licensed Lender Bond annual volume is $83,000,001 or more||$200,000||Starts at $2,000||GET A QUOTE|
Fill out our easy online contact form, to connect with our team of surety experts. We can provide you with a free surety bond quote within 1 business day of submitting your application!
Why are Delaware lenders bonded?
By posting a licensed lender bond in Delaware, principals (licensed lenders) pledge to comply with and abide by all provisions of Chapter 22, Title 5 of the Delaware Code when engaging in licensed lender business. The bond protects harmed parties from financial loss up to the full bond amount if the principal fails to comply with these terms.
Give us a call at 1 (800) 308-4358 or submit a bond request. One of our expert surety specialists will contact you right away to walk you through our fast and easy bonding process!
What’s the fine print?
Delaware licensed lender bonds remain continuous until canceled. The surety can cancel the bond by giving written notice of cancellation to the lender and the Office of the State Bank Commissioner. Cancellation becomes effective 30 days after the receipt of said notice.
How to become a licensed lender in Delaware
To become a licensed lender in Delaware, applicants must send a completed application to the Commissioner of the State Bank. Prior to submitting the application, applicants should be sure to attach the following information and documents:
- $250 investigation fee
- $250 license fee
- surety bond in the proper amount
Licenses expire annually on December 31.
Complete licensing information can be accessed via the Additional Resources section of this page. Start the process to become a licensed lender in Delaware by purchasing the surety bond you need quickly, easily and accurately.
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