Oklahoma Supervised Lender License Bond Guide
In Oklahoma, all supervised lenders must file a surety bond with the Department of Consumer Credit to operate.
Bond Overview
- Purpose: To ensure supervised lenders uphold state regulations
- Who Needs It: All supervised lenders in Oklahoma
- Regulating Body: The Oklahoma Department of Consumer Credit
- Required Amount: $5,000, plus $1,000 for additional locations
- Premium Rate: $100
Keep scrolling to learn more about the bonding process.
What Is an Oklahoma Supervised Lender License Bond?
An Oklahoma supervised lender license bond protects clients from fraudulent or negligent lending practices.
The Department of Consumer Credit (DOCC) requires this type of license and permit bond to apply for a supervised lender license.
How Much Do Supervised Lender Bonds Cost in Oklahoma?
Oklahoma supervised lender bond premiums cost a flat rate of $100 for all coverage amounts — no credit check required!
Select a multi-year term at checkout to save 25%, making your premium as low as $83 per year.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Oklahoma Supervised Lender License Bond Work?
An Oklahoma supervised lender license bond is a legal contract between three parties:
- Principal: The supervised lender purchasing the bond
- Obligee: The Oklahoma Department of Consumer Credit requiring the bond
- Surety: The provider issuing the bond
Under this contract, you, as the principal, promise to uphold the provisions of the Oklahoma Consumer Credit Code.
If you break the bond terms, harmed parties can file claims on the bond. The surety will validate and pay claims up to the full bond amount. However, you are ultimately responsible for refunding the surety.
Who Needs a Supervised Lender License Bond?
In Oklahoma, any individual or business that issues consumer loans with an annual finance charge exceeding 10% must be licensed with the Department of Consumer Credit.
The DOCC requires all supervised lenders to file a $5,000 surety bond for licensure. You must increase your bond amount by $1,000 for each additional location.
How Do I Get a Supervised Lender License Bond in Oklahoma?
SuretyBonds.com provides the fastest and easiest way to get a supervised lender license bond. Follow these simple steps to purchase your bond instantly:
- Enter Information: Fill out the quick request form on this page
- Pay Invoice: Complete your purchase online or over the phone
- Receive Bond: Receive your official bond form via email in minutes
Upon receipt, sign and file the bond documentation with the DOCC.
How Fast Can I Get My Bond?
SuretyBonds.com offers instant Oklahoma supervised lender license bond delivery 24/7. Purchase now to receive your official bond in minutes.
Can I Get Bonded With Bad Credit?
Yes, this bond does not require a credit check! All applicants are automatically approved at the same price, regardless of credit score.
How Do I Renew My Supervised Lender License Bond?
Oklahoma supervised lender license bonds expire annually unless you purchase a multi-year term.
When you work with SuretyBonds.com, we’ll send you reminders and a renewal invoice before your bond expires. To renew your bond, just pay the premium — we’ll do the rest!
How to Become a Supervised Lender in Oklahoma
The Department of Consumer Credit regulates all supervised lenders in the state. To apply for a license, complete the application form and gather the following supporting documents:
- Proof of surety bond coverage
- Record Keeping and Location of Examination Forms
- Financial statement proving at least $25,000 in net assets
- Business registration with the Oklahoma Secretary of State (if applicable)
- $1,215 fee for licensing, investigation and examination of records
For each additional location, you must complete a separate application form and pay a $790 fee. Make sure your surety bond amount is updated as well.
Mail all application materials to the address below:
Oklahoma Department of Consumer Credit
629 NE 28th St.
Oklahoma City, OK 73105
How Do I Renew My License?
Supervised lender licenses expire annually. To renew, submit the same application and pay the $790 fee before December 1.
If any significant information on your license changes, you must report it to the DOCC immediately and pay a $25 amendment fee.
