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Kentucky
Consumer Loan License Bond

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Coverage Amount: $100,000 - $250,000
Term Length: 1 year
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Kentucky Consumer Loan License Bond Guide

If you’re applying for a consumer loan license in Kentucky, you’ll likely need this surety bond. 

Bond Overview

  • Purpose: To ensure companies uphold state regulations and operate ethically
  • Who Needs It: All consumer loan companies in Kentucky
  • Regulating Body: The Kentucky Department of Financial Institutions
  • Required Coverage: $100,000 or $250,000, based on company type
  • Premium Rate: Credit-based, typically 1–3%

Learn all about the bond requirements and process in this guide. 

What Is a Kentucky Consumer Loan License Bond? 

A Kentucky consumer loan license bond protects borrowers against fraud or theft by consumer lenders. 

The Kentucky Department of Financial Institutions requires a $100,000 bond for privately-held companies and a $250,000 bond for publicly-traded companies. 

How Much Do Consumer Loan License Bonds Cost?

Kentucky consumer loan license bonds cost a small percentage of the required coverage amount, typically 1–3%.

Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$100,000Consumer Loan License BondApplicant is privately held
$250,000Consumer Loan License BondApplicant is publicly traded

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

Who Needs a Consumer Loan License Bond? 

In Kentucky, anyone who makes consumer loans up to $15,000 must be licensed with the Department of Financial Institutions. 

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Kentucky consumer loan license bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

Once your order is processed, we’ll upload the official bond form directly to NMLS on your behalf. We’ll also email you a copy for your records. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a Kentucky Consumer Loan License Bond Work? 

A consumer loan license bond creates a legal contract between these three parties: 

  1. Principal: You, the consumer loan company filing the bond
  2. Obligee: The Kentucky Department of Financial Institutions requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of Kentucky Revised Statutes 286.4. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your consumer loan license bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

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