Missouri Commercial Financing Bond Overview
- Purpose: To protect businesses that purchase financing plans from fraud or unethical practices
- Who Needs It: Commercial financing brokers working in Missouri
- Regulating Body: The Missouri Division of Finance
- Bond Amount: $10,000
- Minimum Price: $100; credit-based
What Is a Missouri Commercial Financing Bond?
A Missouri commercial financing bond is a form of financial security that protects consumers who purchase financing plans.
Under the Missouri Commercial Financing Law, anyone who consummates more than five commercial financing transactions to a business located in Missouri in a year must file a bond.
How Much Do Commercial Financing Bonds Cost in Missouri?
The state-required $10,000 financing bond costs 1–10%. Most qualified applicants pay just $100. Apply to get your free quote today.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Missouri Commercial Financing Bond Work?
This type of surety bond creates a legally-binding contract between three entities.
| Bond Party | Description |
|---|---|
| 1) Principal | The commercial finance broker filing the bond |
| 2) Obligee | The Missouri Division of Finance |
| 3) Surety | The issuing surety provider |
Any person harmed by a broker’s breach of contract can file a claim on the bond to recover damages. The surety will pay valid claims up to $10,000.
How Do I Get a Commercial Financing Bond in Missouri?
To get bonded, all you need to do is submit a quote request. We’ll provide your Missouri commercial financing broker bond quote within one business day or less. Then, you can check out online 24/7.
How Fast Can I Get My Bond?
We issue most quotes same-day, but can guarantee a response within one business day. Once you purchase the bond, we’ll email it to you right away. Be sure to file it with the Division of Finance as instructed.
Can I Get Bonded With Bad Credit?
You may still be able to get your bond if you have poor personal credit. However, be aware that credit will likely impact your quote. Underwriters look at credit scores to assess financial risk.
How Do I Renew My Bond?
These bonds required annual renewal. When you receive your renewal reminders, simply pay the invoice to extend your bond for another term.
