Ohio — Short-Term Lender License (NMLS) Bond
The Ohio Short-Term Lender License Bond is a regulatory requirement for entities operating as short-term lenders within the state. This corporate surety bond serves as a financial safeguard to protect borrowers against violations of state lending statutes by the licensee or their employees.
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- Recorded state
- Ohio
- Bond type
- Payday / Deferred Deposit Lender Bond
- Category
- Financial services
What this bond does
The bond functions as a financial guarantee that a licensee will operate honestly and in compliance with the Ohio Revised Code sections 1321.35 to 1321.48. It is specifically held for the benefit of any borrower who suffers an injury due to a licensee's failure to adhere to these legal standards.
- Who needs it
- This bond is required for any person or entity seeking an original or renewal license to conduct short-term lending business in Ohio. It is a mandatory licensing component under the oversight of the Ohio Division of Financial Institutions.
- Who it protects
- This is a third-party surety bond provided for the exclusive benefit of borrowers. It does not protect the lender or provide general liability coverage. Protection is triggered if a borrower is injured by the licensee's violation of the relevant state lending provisions.
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
- Ohio Revised Code Section 1321.37 (opens in a new tab)Checked October 18, 2026
Have these ready
- Verify your business classification as either a standard lender or a nonprofit corporation to determine the required bond amount of 100,000 dollars or 50,000 dollars.
- Ensure your NMLS filing information is complete and matches the details provided for your surety bond.
- Obtain the original bond document from an authorized surety provider and file a copy with the Ohio Superintendent of Financial Institutions.
- Confirm that the effective dates of your bond align exactly with your licensure period.
Questions about this bond
What is the bond amount for an Ohio short-term lender?
The bond amount is 100,000 dollars for standard applicants and 50,000 dollars for nonprofit corporations incorporated under Chapter 1702 of the Revised Code.
Who is protected by this surety bond?
The bond is held for the exclusive benefit of borrowers who have been injured by a licensee's or an employee's violation of Ohio lending laws.
Is this bond required for my entire license term?
Yes, section 1321.37 of the Ohio Revised Code requires that the bond term must coincide with the term of the license and must remain in effect at all times.
Where do I file the bond?
You are required to file a copy of your corporate surety bond with the Superintendent of Financial Institutions.