Rhode Island — Small Loan Lender - NMLS Bond
Rhode Island sets $10,000 of bond security for the Small Loan Lender license. Its general Lender and Loan Broker licenses have different amounts; match the actual license in NMLS before applying.
Continue to our secure checkout partner, Propeller (opens in a new tab).
- Recorded state
- Rhode Island
- Bond type
- Consumer Finance / Lender Bond
- Category
- Financial services
What this bond does
Provide the director-approved Small Loan Lender bond required with the licensing application and maintain the security throughout licensure.
- Who needs it
- The company applying for or maintaining Rhode Island Small Loan Lender authority, rather than a general Lender, Loan Broker or mortgage loan originator assuming the same sum applies.
- Who it protects
- Section 19-14-6 runs the bond to Rhode Island for the State and persons with a cause of action under Title 19. It secures the obligor's compliance with that title and lawful rules, plus payment of money due under it—not every lending loss.
Your bond option
This is the option on record for this bond.
- Bond optionPurchase Now (opens in a new tab)Continue to our secure checkout partner, Propeller (opens in a new tab).
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
- Rhode Island DBR: Applications, Forms and Other Information (opens in a new tab)Checked October 27, 2026
- Rhode Island: Active Rule 230-RICR-40-10-2 (opens in a new tab)Checked October 27, 2026
- Rhode Island General Laws: Section 19-14-6 (opens in a new tab)Checked October 27, 2026
Have these ready
- Confirm the NMLS record is for Rhode Island Small Loan Lender authority, not a different lending license.
- Obtain the director-approved form and written request; match the legal applicant and $10,000 requirement.
- Identify the effective date and any existing bond, cancellation or replacement deadline.
- Complete the licensing application and accepted bond submission separately from the external purchase.
Questions about this bond
Should I use the general Lender's $50,000 figure?
Not for this license merely because it is a lending business. The statute and current rule specify $10,000 for Small Loan Lenders; general Lenders and Loan Brokers are separate classes.
Does the bond expire automatically with a quoted term?
The statute calls the bond perpetual and provides for release or proper cancellation. Keep the required security current throughout licensure and follow the actual approved terms.
Does cancellation wipe out earlier liability?
No. Section 19-14-6 preserves liability incurred or accrued before the 30-day notice period ends. Follow any reinstatement or replacement instruction before the existing bond is cancelled.
Does purchasing complete the NMLS application?
No. DBR requires the license application through NMLS and the applicable bond submission. Verify acceptance against the correct company and license rather than treating payment as approval.