The North Carolina Loan Broker Bond is required by the State of North Carolina. The amount of the bond is set at $10,000. The bond states that the bondholder will faithfully comply with the provisions of the North Carolina Loan Broker Disclosure Act and all amendments. The state of North Carolina defines a loan broker as:
Any person, firm, or corporation that, in return for any consideration from any person, promises to do any of the following:
- Procure for the person, or assist the person in procuring, a loan from any third party.
- Consider whether or not it will make a loan to the person.
This sub-subdivision does not apply to a lender whose loans or advances to any person in North Carolina aggregate more than one million dollars ($1,000,000) in the preceding calendar year.
All loan brokers must be registered before practicing their profession in the state. One of the requirements for registration is the Loan Broker Bond.
What are the other Registration Requirements?
Aside from the North Carolina Loan Broker Bond, applicants must also submit two copies of the disclosure statement. There is no fee to register as a Loan Broker with the North Carolina Secretary of State’s office.
How do I get a North Carolina Loan Broker Bond?
At Surety1, we make it easy to obtain this bond:
- Complete our easy-to-navigate and secure online application.
- Review your free, no obligation quote from one of our surety bond professional agents, usually within 1 business day.
- Sign some paperwork and make payment (all major credit cards accepted).
One these steps have been completed your bond will be shipped to you for signature via traceable mail. Overnight delivery is also available at an additional cost.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Surety1.com is the premier online provider of surety bonds nationwide since 2003 and maintains an A+ rating from the Better Business Bureau.