Loan Broker Bonds

Loan broker bonds are required for businesses that connect borrowers to the lenders. Regulated by various state entities, the bond must be in place before the business can receive their license and start offering their services. The key distinction of this bond is that it is only required for the business acting as the intermediary between the borrower and lender, rather than issuing the loans themselves, which is covered under a different bond.

You can get your surety bond in just a few minutes with Jet, straight from the source!

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How Much Does a Loan Broker Bond Cost with Jet?

The bond price is typically a small percentage of the bond limit, which can vary by state. Certain states have slightly different names for this bond, like loan lender or finance lender, but they serve the same purpose. The limit can either be a fixed amount, or can vary based on loan volume serviced through the business. Below is a chart of the common limits for this bond, along with their corresponding 1-Year and monthly rates.

Limit 1-Year Price Monthly Price
$10,000$100$10
$25,000$125$13
$50,000$250$25
Bond Price by Limit

Rates will vary based on the state, bond limit, and applicant.

What is the Purpose of a Loan Broker Bond?

Loan broker bonds are for companies that act as intermediaries in the lending process. This can include coordinating loan transactions, negotiating terms, and facilitating the process of matching borrowers with the appropriate lender, which creates the opportunity for financial damage to the customer. In order to avoid claims, its important to understand the regulations of your licensing state. Below is a list of activities that could potentially lead to a claim on the bond:

This is not an exhaustive list. Claims on this bond are rare, but it is still necessary for the broker to understand the laws they must operate within. The bond lets the state regulatory entity, and the customer, know that only authorized and informed brokers are giving out financial advice. Depending on the state, if a company also brokers mortgages, they may need a separate bond as well.

How to Apply for Your Loan Broker Bond with Jet

You can get your surety bond in just a few minutes with Jet, straight from the source!

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To get started, select the "Quote" button above, or you're more than welcome to give us a call at (855) 296-2663 and one of our Jet team members can walk you through the application process.

Once you have selected your bond, some general information is required, such as your contact details and some information about your business. Make sure you are inputting correct information as your surety bond must contain the same details as your license in order to be appropriately filed with your state regulator.

As soon as you submit your application, you should receive an online quote instantly. After you receive your approved rate options, all that's left to do is choose the best payment option for you (i.e. monthly, annual, or multi-year) and complete your bond purchase. You'll then receive a copy of your receipt and bond form as soon as the last step is fulfilled.

In addition, Jet can take care of filing your bond for you at no extra cost. However, state regulators will occasionally require you to mail in the original signed bond form along with your license application, especially if this is an initial license application. If this is the case, our team can mail the bond straight to you, and if it's urgent, Jet offers next-day shipping for a small fee.

Additional Loan Broker Bond Information

How to Renew My Bond

For annually-purchased bonds, see Jet’s process to renew your bond. Hint- it’s simple.

How to Cancel My Bond

You can cancel your bond at any time with Jet. Details here.

Bond Claim Process

Check out what causes a bond claim and what can happen after a claim is made.

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: