How much does a business license bond cost in Minneapolis, Minnesota?
The Department of Regulatory Services’ Division of Licenses and Consumer Services in Minneapolis, Minnesota, requires individuals seeking a business license to post a business license surety bond. The required bond amount varies, so applicants should verify their required amount of bond coverage with the state prior to bonding.
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Business License Bond||Varies||Starts at 1%||4-8%||10%+||Apply Now|
We can provide your free bond quote within 1 business day of submitting your application! Call 1 (800) 308-4358 or submit a bond request to get started.
Why do I need this bond?
Business license bonds in Minneapolis, Minnesota, ensure that principals (individuals seeking a business license) comply with all ordinances of the city while conducting business. Additionally, principals pledge to accurately account for and deliver any goods, wares or merchandise, articles or things of business to those legally entitled to them.
If the principal fails to conduct ethical and lawful business, the bond protects the city and consumers from financial loss up to the full bond amount. The principal must reimburse the surety for any damages paid out.
How to get a business license in Minneapolis, Minnesota
To obtain a business license in Minneapolis, Minnesota, applicants must do the following:
- Complete a license application for your specific license type.
- Take the completed application to the Minneapolis Development Review Office at 250 S. 4th St., Room 300.
- Wait for a License Inspector to review the application, inspect the premises and contact you.
- Contact a License Inspector with any questions.
More licensing information can be accessed from the Additional Resources section of this page.
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