Customer Lender and Installment Lender License Needs – Monetary Legislation

Corporation/LLC

1. Major Officer Suggestions – offer a listing of names, company and residence details, and phone variety of each major officer and manager.
2. Experience – a real and statement that is correct of company and/or employment for every single for the principal officers or people whom have or control 10% or maybe more of company or LLC. Supply a current application for each major officer or user.
3. Stockholders – a listing of the stockholders whom possess or control 10percent or maybe more associated with the Corporation or LLC.
4. Organizational papers – a duplicate of present by-laws, articles of incorporation or company, and agreement that is operating.
5. Certification of great Standing – a present (within year) Certification of great Standing through the Maryland Department of Assessment and Taxation (410- 767-1340).
6. Surety Bond – The surety relationship types are available here: MD customer Lender Licensee Surety Bond Form (Word) and MD Installment Loan Lenders Licensee Surety Bond Form (term).
7. Fluid resource Letter – supply a asset that is liquid confirmed by a standard bank, showing $20,000 in funds to be utilized by the company. A evaluated or audited financial record could be substituted when it comes to asset letter that is liquid.
8. Credit history – offer an ongoing (in the last one year) company credit history. If a small business credit file just isn’t available, or if perhaps the company is an innovative new entity, an ongoing individual credit report(s) should be given to the President and any stockholder whom has or controls 10percent or even more for the Corporation or LLC.
9. Trade Name – in cases where a trade name can be used, offer proof of this trade title registration through the Maryland Department of Assessments and Taxation. The Maryland Department of Assessments and Taxation may be reached at 410-767-1340.

Partnership, Limited Liability Partnership, or Unincorporated Association

1. Major Officer Suggestions – offer a summary of names, business and residence details, and phone variety of each officer that is principal manager.
2. Experience – a genuine and correct declaration associated with company and/or employment for every associated with basic lovers, co-venturers, or relationship users. Give a resume that is current for every manager detailed, are the company’s title and complete target, the time scale of work with this company (starting month/year and ending month/year) the positioning held, plus description of one’s duties and obligations.
3. Organizational papers- a duplicate of partnership agreement, certification of restricted partnership, or articles of relationship.
4. Certification of great Standing – an ongoing (within year) Certification of great Standing through the Maryland Department of Assessment and Taxation (410- 767-1340).
5. Surety Bond – The surety bond kinds are available right here: MD customer Lender Licensee Surety Bond Form (Word) and MD Installment loan companies Licensee Surety Bond Form (term).
6. Fluid resource Letter – supply a fluid asset page confirmed by a standard bank, showing $20,000 in funds to be utilized by the company. A evaluated or audited financial record could be replaced the asset letter that is liquid.
7. Credit file – offer a present (within the past year) company credit file. If a company credit file is certainly not available, or if the company is a brand new entity, an ongoing individual credit report(s) should be given to the President and any stockholder whom has or controls 10per cent or even more associated with Corporation or LLC.
8. Trade Name – in cases where a trade title can be used, offer evidence of trade title enrollment from Maryland Department of Assessments and Taxation. The Maryland Department of Assessments and Taxation could be reached at 410-767-1340.

Specific or proprietorship that is sole

1. Experience – a real and statement that is correct of company and/or work. The applicant will need to have at the least 36 months company experience. Supply online payday IA a present application; for every single boss listed, range from the boss’s title and full target, the time scale of work with that company (beginning month/year and ending month/year) the positioning held, plus description of the duties and obligations.
2. Surety Bond – The surety relationship kinds are available right here: MD customer Lender Licensee Surety Bond Form (term) and MD Installment Loan Lenders Licensee Surety Bond Form (term).
3. Fluid resource Letter – give a fluid asset page confirmed by a standard bank, showing $20,000 in funds to be utilized by the company. A evaluated or audited statement of finance can be substituted when it comes to fluid asset page.
4. Credit history – offer a present (in the last year) business credit history. A current personal credit report(s) needs to be provided for the President and any stockholder who owns or controls 10% or more of the Corporation or LLC if a business credit report is not available, or if the business is a new entity.
5. Trade Name – if your trade title is employed, provide evidence of this trade title enrollment through the Maryland Department of Assessments and Taxation. The Maryland Department of Assessments and Taxation is reached at 410-767-1340.

• Call Us
• Privacy
• Accessibility
• Posters
• MPIA
• Enter to Vote
• Ayuda en espanol

500 North Calvert Street, Baltimore, MD 21202