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Surety Bond for Washington Check Cashers with Small Loan Endorsement

A Washington check casher lends money to a client.

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Or call 844-432-6637

Check cashers in the state of Washington must have a business license issued by the State Department of Revenue, Business Licensing Service. Those who also wish to make small loans must obtain a small loan endorsement to the license for each location from the Department.

A requirement of licensing includes obtaining a surety bond or other type of accepted security.

Licensing and Surety Bond Requirement

This license authorizes the following activities:

  • Check Cashing
  • Payday Loans - online
  • Payday Loans - storefront

Requirements to be completed in the NMLS (Nationwide Multistate Licensing System & Registry) include:

  • Application Form (MU1)
  • Financial Statements from the most recent quarter end for the business
  • Other Trade Names
  • Resident/Registered Agent listed for out of state corporate locations
  • List Primary Company Contact and Primary Consumer Complaint Contact
  • Add Washington to the Jurisdiction Section for Books & Records on the MU1.
  • Approvals and Designation: Enter "Washington Unified Business License Number" and enter company's 9-digit Unified Business Number
  • Identify Bank Account that is used for check cashing/payday lending activities
  • Disclosure Questions - provide detailed explanations for every "yes" answer
  • Qualifying Individual - List your Main Compliance person
  • Control Person (MU2) Attestation
  • Credit Report for individuals in a position of control
  • Business Plan, Management Chart, Organizational Chart
  • Source of Funding
  • Complete a Declaration of Activity
  • Surety Bond: $10,000 for first location and $1,000 for each additional branch location

How Much Will This Bond Cost?

The premium you pay for a Washington Check Casher with Small Loan Endorsement Bond depends on credit and the number of business locations. Our rates start at 1.5% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.

Did You Know?

Applicants must pay a $1035.15 application fee, plus a $100 NMLS Initial processing fee.

Related Links:

Washington State Department of Financial Institutions - Application Information

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.


For a downloadable application