The Colorado Supervised Lender Surety Bond is required by the Colorado Uniform Consumer Credit Code. The bond amount is adjusted each June 1 based on the total Colorado loan volume for the prior calendar year.
What are the requirements in order to get a Supervised Lender’s License in the state of Colorado?
If you make supervised loans and collect supervised loans if you purchase supervised loans and collect or enforce the rights arising from them, and if you are engaged in deferred deposit loans, etc, you will need to apply for a license. The following are the requirements that need to be met (if applicable):
- A completed application form
- For corporations – Certificate of Authority of Good Standing from the Colorado Secretary of State
- For partnerships – a copy of the Partnership agreement
- For Limited Liability Companies – Copy of Certificate of Organization from the Colorado Secretary of State
- Proof of financial responsibility in the form of a Supervised Lender Surety Bond.
What is the bond amount for a Supervised Lender Surety Bond?
Your Annual Colorado Loan Volume determines the bond amount:
$0 to $500,000 = $15,000 Bond Amount
$500,000 to $1 million = $20,000 Bond Amount
Over $1 million = $25,000 Bond Amount
Where can I get a Colorado Supervised Lender Surety Bond?
Surety1 can get this bond approved right away with just a filled out application! You will receive a quote from one of our friendly agents within just one business day. All you need to do is pay for the bond and sign some paperwork, and you will be mailed your surety bond right away via USPS Priority Mail (overnight shipping options are also available)
Surety1 has been issuing bonds since 2003, so it understands the need for an easy, reliable bonding process. Rated A+ by the Better Business Bureau and licensed in all 50 states!