Consumer Loan Company Licensing

DFI uses NMLS to manage all Consumer Loan licenses. All applications and changes to a Consumer Loan license must be made through NMLS.

How to Apply for a Washington Consumer Loan Company License

Before You Apply
Before you can apply, you will need to obtain certain items outside of DFI.

• Company Registration in Washington State
  The company must register with these agencies:
  • Washington Secretary of State - You will need to receive a corporate registration
  • Washington Business License Services - You will need to receive a Business License
  • Washington Department of Revenue - You will need to have an open/active account

Application Steps:

1. Gather all items listed on the New Application Checklist (PDF)*
   *Do not apply for the license through NMLS until you have ALL items on the checklist
   1. Surety Bond
      New Consumer Loan applicants must have a $100,000 surety bond (unless the company ONLY services, then a $30,000 surety bond is required). See: Surety Bond Requirements
   2. Business Plan
      Prepare the company’s business plan which must include steps for resolving customer complaints, and upload into company’s MU1 in NMLS. See: Document Upload Quick Guide (PDF)*
   3. Financial Statements
      Prepare the company’s balance sheet for the most recent quarter end and upload the statement into the company’s MU1 in NMLS. See: Financial Statement Quick Guide (PDF)*
   4. Fingerprints
      Have each control person in the company get fingerprinted, unless the control person already holds a MLO license in Washington

   Note: Once you have obtained or gathered all requirements, please review our tip sheet to ensure all items are complete and accurate before proceeding further.

2. Submit your application for Washington Consumer Loan Company Main Office License through NMLS, including paying the licensing fee ($1,162.21)
   1. Review: Submitting Company Form Quick Guide (PDF)*
   2. Sponsor Mortgage Loan Originator
      If the company is brokering and/or lending you must have Mortgage Loan Originator, so sponsor them now: See: MLO Sponsorship Quick Guide (PDF)*
   3. Submit Branch Locations
      If the company has additional locations where Washington activity will be done, submit license applications for those branches: See: Submitting Branch Form Quick Guide (PDF)*
3. Mail the original bond, fingerprint cards and checklist to Department of Financial Institutions the same day as applying through NMLS so it is received within 5 days. See: Consumer Loan Company New Application Checklist (PDF)*
   
   Please mail the requirements to:
   
   

   For U.S. Postal Service: Department of Financial Institutions Division of Consumer Services PO Box 41200 Olympia WA 98504-1200

   For Overnight Delivery: Department of Financial Institutions Division of Consumer Services 150 Israel Rd SW Tumwater WA 98501

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Consumer Loan Application Resources

• Tip Sheet and FAQs for Consumer Loan Application
• NMLS Getting Started Guide
• NMLS New Application Checklist for Consumer Loan License (PDF)*

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Contact Us

If you have any questions about information on this webpage feel free to contact us by phone at (360) 902-8703 or toll free at 1-877 RING DFI (746-4334). You may also email us at dcs@dfi.wa.gov.

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

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