Indiana — Consumer Small Loan Bond
Indiana's Small Loan application requires $50,000 security per lending location, with a posted company maximum of $200,000. Use DFI's form and direct licensing process; the separate Consumer Loan license uses NMLS.
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- Recorded state
- Indiana
- Bond type
- Consumer Finance / Lender Bond
- Category
- Financial services
What this bond does
Provide the Small Loan security required for the licensed company and locations, independently of the company's net-worth, liquid-asset and loan-documentation requirements.
- Who needs it
- Indiana Small Loan applicants and licensees conducting the payday-type activity governed by the Small Loans article, rather than general Consumer Loan lending.
- Who it protects
- The statutory bond is payable to DFI for Indiana and individuals residing in Indiana when they agree to receive the lender's financial services. Its payment condition covers applicable legal violations by the lender, employees or agents; the posted form also addresses DFI expenses, fines, fees and DFI-determined consumer loss.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Indiana DFI: Consumer Credit Licensing (opens in a new tab)Checked October 27, 2026
- Indiana DFI: Small Loan Application and Bond (opens in a new tab)Checked October 27, 2026
- Indiana Code2026: IC37-3-3-15 (opens in a new tab)Checked October 27, 2026
- Indiana DFI: July2026Consumer Credit Guidance (opens in a new tab)Checked October 27, 2026
Have these ready
- Confirm Small Loan authority rather than the separate Consumer Loan NMLS license.
- List every Indiana lending location and match DFI's required company total.
- Obtain the prescribed bond and exact company/license record, required sum, dates and surety authority.
- Complete the direct DFI application and accepted bond delivery, keeping financial requirements separate.
Questions about this bond
Is the $200,000 ceiling a fixed amount in the statute?
The current statute sets $50,000 per location up to a director-determined maximum. The selected DFI application states a $200,000 maximum; match the actual current request.
Do I apply for this license through NMLS?
DFI's current licensing page lists Small Loan applications for return directly to the office. It separately lists Consumer Loan applications through NMLS.
Are the older code references proof the guidance is unusable?
No. DFI expressly says its guidance remains the same after the July 1, 2026 recodification. Interpret the old sections through the current Title 37 references and use the prescribed accepted form.
Can I cancel security as soon as the business closes?
Do not assume so. The statute generally requires two years of security after surrender or termination, subject to the director's written-request discretion. Cancellation does not erase liability already incurred.