Alabama Consumer Credit License Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $25,000 | 1 Year | $150 |
| $50,000 | 1 Year | $300 |
| $75,000 | 1 Year | $450 |
Companies that make consumer loans to Alabama residents or take assignments of consumer credit contracts may be required to obtain an Alabama Consumer Credit Act license. Required by the State of Alabama, the consumer credit license bond provides financial protection for people who suffer covered losses resulting from a company’s breach of contract or violation of applicable law.
Cost of the Alabama Consumer Credit License Bond
The cost of the $25,000 Alabama Consumer Credit License Bond is $150 per bond term with NNA Surety. Secure this surety bond today.
How the Alabama Consumer Credit License Bond Works
The Alabama Consumer Credit License Bond helps hold licensed consumer credit businesses financially accountable for covered breaches of contract and violations of applicable law. The bond may provide a financial remedy to eligible parties that suffer covered damage or loss.
The bond involves three parties:
- Principal: Consumer credit business
- Obligee: State of Alabama
- Surety: Bonding company
A claim against the bond may be filed when the principal breaches a covered obligation or violates applicable law. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the Alabama Consumer Credit License Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the $150 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your license.
Learn more about your Alabama surety bond options across the state.
Secure Your Alabama Consumer Credit License Bond
Stay compliant with Alabama consumer credit licensing requirements by securing your bond today. Complete this form to get bonded. For more information, call 855-457-2196 to speak to our team.