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Illinois Loan Brokers Bond

Bond Requirements and Online Application

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The Illinois Loan Brokers Bond is required by the Secretary of State, the State of Illinois in the amount of $25,000. The bond ensures that loan brokers follow Illinois Loan Brokers Bond the Illinois Loan Broker Act of 1995 (P.A. 89-209).

Under the Illinois Loan Brokers Act of 1995, a loan broker is, any person who, in return for a fee, commission, or other compensation from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third-party, or who promises to consider whether or not to make a loan to any person.

It is unlawful to be in this profession unless registered with the Secretary of State.

How can I register as a loan broker in Illinois?

You will need to file an application form (Illinois Form IL LB15-10) with the Secretary of State. Aside from that, please comply with the following requirements in order to legally operate as a loan broker in Illinois.

  • Submit a Consent to Service of Process ( Illinois Form LB15)
  • Submit a disclosure document required under Section 15-30b
  • Pay the required filing fee: Initial Application Filing Fee – $300, Initial Examination Fee – $50, Registration Fee – $10
  • Submit a Illinois Loan Brokers Bond , in the amount of $25,000, issued by a surety company legally licensed to operate in the state.

How can I get an Illinois Loan Brokers Bond?

To begin the process, just complete our easy to use, online application form. After submitting, wait for a call from one of our licensed agents. Once you sign all the necessary paperwork and pay the bond premium, you may choose to have your surety bond delivered via USPS Priority Mail or overnight delivery.

Surety Solutions Insurance Services, Inc. (Surety1) has been issuing Illinois surety bonds since 2003 and is licensed in all 50 states. In addition to our state of the art, online application, we offer super fast service and low rates. Real people answer our phones and we maintain an A+ rating from the Better Business Bureau. 

 

 

 

 

 

 

 

How to Get Your Illinois Loan Brokers Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your Illinois Loan Brokers Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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