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Title loan bond cost

Florida’s Office of Financial Regulation requires title loan lenders to post $100,000 surety bonds prior to conducting business. These bonds are subject to underwriting consideration, so the price you’ll pay depends on a review of your personal credit report.

Applicants should have their current business financials and a personal financial statement handy when contacting Surety Bonds as these documents are required by most surety underwriting companies.

Why this bond

By posting a Florida title loan surety bond, principals (title loan lenders) pledge to conduct business in compliance with the provisions of the Florida Title Loan Act, which is Chapter 537 of the Florida Statutes, and abide by all rules and regulations of the Office of Financial Regulation and the Financial Services Commission.

Prohibited actions under this bond include:

  • Falsifying a title loan agreement
  • Failing to make an entry in a title loan agreement
  • Refusing to allow office inspection of completed title loan agreements
  • Losing loan property or titled personal property
  • Charging for any type of insurance connected with a title loan agreement
  • And more

If a principal violates any terms of the surety bond agreement and a claim is made against the bond, the bond protects harmed parties from financial loss up to the full bond amount. The principal must reimburse the surety for any damages paid out.

Our experts are here to answer all of your surety bond questions and to help you get the Florida surety bond you need quickly, easily and accurately.

Title loan bond details

Title loan bonds in Florida can be canceled by the surety if the surety gives 30 days’ notice of the impending cancellation to both the principal (title loan lender) and the Office of Financial Regulation in Tallahassee, Florida. The surety remains liable for any claims made against the bond during the 30-day period prior to termination.

Become a title loan lender

Before an individual can legally perform title loan lender duties in Florida, he or she must be licensed. License applications must be sent to the Office of Financial Regulation and be accompanied by the following:

  • Surety bond
  • Application fee
  • Investigation fee
  • Biographical summary for title loan lender
  • Set of fingerprints

Licenses remain valid for 2 years. To renew a license, licensees should file a renewal form with the office along with the required renewal fee.

Apply for your surety bond

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Additional information