Maine Loan Broker Bond

Loan brokers in Maine are required to post a $25,000 surety bond as a condition of licensure. The NNA has secured a $150 flat rate for all Maine Loan Brokers to obtain this bond without a credit check or review of company financials. 

Bond Amount Required	Annual Premium
$25,000	$150

Overview

The Maine Loan Broker License bond is required by any person who, with respect to the extension of consumer credit by others, provides or offers to provide, in return for the separate payment of money or other valuable consideration, any of the following services:

• Improving a consumer’s credit record, history or rating;
• Arranging for or obtaining an extension of credit for a consumer; or
• Providing advice or assistance to a consumer with respect to improving a consumer’s credit record, history or rating or arranging for or obtaining an extension of credit for a consumer.