Wisconsin Payday Lender Bond
$5,000 Per Licensed Payday Lending Location
| Bond Amount Required |
Locations Represented |
Bond Term | Annual Premium |
| $5,000 | 1 | 1 Year | $100 |
| $10,000 | 2 | 1 Year | $100 |
| $15,000 | 3 | 1 Year | $150 |
| $20,000 | 4 | 1 Year | $200 |
Wisconsin payday lenders must maintain surety bond coverage as part of licensing with the Wisconsin Department of Financial Institutions. The statutory formula is up to $5,000 for each place of business. Accordingly, the product options shown here scale with the number of licensed Wisconsin payday-lending locations.
Cost of the Wisconsin Payday Lender Bond
The supplied NNA/Propeller pricing is $100 for $5,000 of coverage, $100 for $10,000, $150 for $15,000, and $200 for $20,000, each for a one-year product term.
Apply online for the Wisconsin Payday Lender Bond.
View NNA Surety's Wisconsin Payday Lender Bond information.
How the Wisconsin Payday Lender Bond Works
The Wisconsin Payday Lender Bond helps ensure compliance with Wis. Stat. § 138.14 and applicable orders and rules. The current DFI bond form covers amounts the lender may owe to the Division or other persons because of covered violations and also covers certain regulatory costs, assessments, penalties, forfeitures, and other obligations.
The bond generally involves three parties:
Principal: Licensed Wisconsin payday lender
Obligee: Wisconsin Department of Financial Institutions - Division of Banking
Surety: Authorized surety company
Learn about the surety bond claim process for general information about claims and principal reimbursement obligations.
Which Bond Amount Do You Need?
$5,000 — one licensed payday-lending location.
$10,000 — two licensed locations.
$15,000 — three licensed locations.
$20,000 — four licensed locations.
For more locations, confirm the total bond amount required by Wisconsin DFI. The statute authorizes up to $5,000 for each place of business.
How to Get the Wisconsin Payday Lender Bond
- Determine the number of Wisconsin places of business that require payday lender licensing.
- Calculate the applicable bond amount using the $5,000-per-location formula.
- Complete the online bond application.
- Pay the applicable premium and obtain the bond documentation.
- File and maintain the bond as required by the Wisconsin Department of Financial Institutions.
Review the Wisconsin DFI Payday Lender licensing information for current licensing requirements.
Important Multi-Location Note
The four listed amounts are not loan-volume tiers. They represent the statutory $5,000-per-place-of-business formula for one through four licensed locations.
Get Your Wisconsin Payday Lender Bond
Start your Wisconsin Payday Lender Bond application online. You can also explore Wisconsin surety bond options or call 855-215-2160 for assistance.