Tips For An Error Free Consumer Loan Application

To maximize our efficiency and process complete applications for licensure, we quickly review each applicant's material when it arrives. We reject incomplete applications for completion. Help us to help you by providing all the information requested before mailing them to DFI.

DFI expects licensees to meet high ethical and performance standards. Often consumers' money is in your hands. Attention to detail and the law is a requirement for licensees and it starts with the licensing application.

Below are the most common reasons why a Main Office application is rejected.

1. Jurisdiction-Specific requirements not received.
2. Surety Bond Problems
   1. Company name listed incorrectly.
   2. Corporation language missing after the company’s name.
   3. No Trade Name listed.
   4. Company’s physical address is listed incorrectly.
   5. Bond not signed by the company
   6. Bond is not an original.
   7. Bond amount isn’t high enough.
3. Website address is different from company’s corporate or trade name and isn’t listed as a trade name on surety bond.
4. Complaint Resolution not provided.
5. Toll Free Phone Number not provided.
6. Explanation for “Yes” answers to Disclosure Questions not provided.
7. Company not registered with Washington Department of Licensing and/or Washington Secretary of State, Division of Corporations.

Below are the most common reasons why a Branch Office application is rejected.

1. Jurisdiction-Specific requirements not received.
2. Surety Bond Rider
   1. Rider not provided.
   2. Branch office’s physical address not added to surety bond.
   3. Amount of bond not increased to cover the new branch application.
   4. Branch’s trade name not added to surety bond.
   5. Bond rider isn’t an original.
   6. Bond rider isn’t signed by the company (if required).

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