California Consumer Finance Lender Bond (CFL)
DFPI Surety Bond Amount Scale
Licensees licensed under the California Financial Law (CFL) must obtain a surety bond in an amount based upon the aggregate funded loan. See table below:
| Aggregate Loan Amount | Bond Amount Required | Annual Premium |
| $0 - $1,000,000 | $25,000 | $250 per year |
| $1,000,001 - $50,000,000 | $50,000 | $500 per year |
| $50,000,001 - $500,000,000 | $100,000 | $1,000 per year |
| Over $500,000,001 | $200,000 | $2,000 per year |
Overview
Licensees licensed under the California Financial Law (CFL) must obtain a surety bond in an amount based upon the aggregate funded loan volume the previous year. The bond amount varies from $25,000 to $200,000, according to the scale below defined by the DFPI. The bond premium (cost) is 1% of the bond amount. Bonds are issued electronically in the NMLS system (ESB).
- No credit check is required
- No financials required