Surety Bonds

In general, any person engaging in the business of a finance lender or finance broker is required to obtain a California Finance Lenders License. It should be noted that the California Finance Lenders Law contains a number of exemptions for persons licensed by other regulatory agencies. A finance broker licensed under the California Finance Lenders Law may only broker loans to lenders licensed as finance lenders. The license does not provide the broker with the authority to broker loans to and collect brokerage commissions from other types of lenders such as credit unions and banks.

 

Definitions:

 

1. A finance lender includes any person engaged in the business of making consumer loans or making commercial loans.

 

2. “Finance broker” includes any person engaged in the business of negotiating or performing any act as broker in connection with loans made by a finance lender. A finance broker licensed under the California Finance Lenders Law may only broker loans to lenders licensed as finance lenders. The license does not provide the broker with the authority to broker loans to and collect brokerage commissions from other types of lenders such as credit unions and banks.

 

If you need to obtain a California Finance Lenders Bond, please apply online or contact our bonding experts at Nation’s Surety at 760-747-8175. We are here to serve all of your surety bonding needs.