Nevada Check Cashing, Deferred Deposit, Title Loan Surety Bond
Securing a license under NRS 604A for any of the below listed classifications requires the licensee to post a $50,000 surety bond for the initial location and an additional $5,000 surety bond for each additional license location.
- Deferred Deposit Loan License Bond - Required of lenders that for a fee, service charge or other consideration, provides deferred deposit loans.
- High-Interest Loan License Bond - Required of lenders that charge an annual percentage rate of more than 40 percent for loans
- Title Loan License Bond - Required of lenders that, for a fee, service charger or other consideration, provides title loans
- Check-Cashing Services License Bond - Required of providers of check cashing services
NRS 604A.610 requires that "each application for a license pursuant to the provisions of this chapter must be accompanied by a surety bond payable to the State of Nevada in the amount of $50,000 plus an additional $5,000 for each branch location at which the applicant proposes to do business under the license. The purpose of the bond is to guarantee the faithful performance of the licensee with respect to their obligations under the provision of the services.
Apply for your Check Cashing, Deferred Deposit or Title Loan Surety Bond and let our expert staff get the bond you need at the lowest possible price!