Lender License Services
Lender License Services
Fintech lenders face a complex mix of licensing rules across states and at the federal level. Whether you’re launching personal loans, mortgage products, or commercial financing, we can help you get the right lender licenses and build a program that fits your model.
Fintech lenders face a complex mix of licensing rules across states and at the federal level. Whether you’re launching personal loans, mortgage products, or commercial financing, we can help you get the right lender licenses and build a program that fits your model.
As seen on:
As seen on:
As seen on:
Eligibility
Eligibility
Does Your Business Need a Lender License?
Lender license requirements depend on your product, how you fund it, and where your borrowers live. Most non-bank lenders offering credit to consumers must be licensed in each state where they operate. Here are some examples of businesses that typically fall under these rules.
Consumer Lending Platforms
If your company offers personal loans, payday loans, or installment plans directly to consumers, most states require you to hold a lender license.
Consumer Lending Platforms
If your company offers personal loans, payday loans, or installment plans directly to consumers, most states require you to hold a lender license.
BNPL and Point-of-Sale Financing
Buy Now, Pay Later and similar pay-over-time models often fall under consumer lending laws, triggering licensing requirements in several states.
BNPL and Point-of-Sale Financing
Buy Now, Pay Later and similar pay-over-time models often fall under consumer lending laws, triggering licensing requirements in several states.
Credit Builder Programs
Products that offer small loans to help users build credit, often held in secured accounts, are generally treated as consumer loans and require licensing.
Credit Builder Programs
Products that offer small loans to help users build credit, often held in secured accounts, are generally treated as consumer loans and require licensing.
Loan Brokers and Marketplaces
If you match borrowers with lenders or facilitate loan offers through your platform, you may need a license as a broker, especially if you receive fees.
Loan Brokers and Marketplaces
If you match borrowers with lenders or facilitate loan offers through your platform, you may need a license as a broker, especially if you receive fees.
Commercial Lenders
While many states exempt business-purpose loans, some require licenses for specific commercial lending activities or if the product is also marketed to consumers.
Commercial Lenders
While many states exempt business-purpose loans, some require licenses for specific commercial lending activities or if the product is also marketed to consumers.
Mortgage and Real Estate Lenders
Residential mortgage lenders and originators need separate licenses through the Nationwide Multistate Licensing System (NMLS) and must meet both state and federal standards.
Mortgage and Real Estate Lenders
Residential mortgage lenders and originators need separate licenses through the Nationwide Multistate Licensing System (NMLS) and must meet both state and federal standards.
Steps
Steps
How to Apply for a Lender License
01
Define Your Lending Model
Licensing is state-based, and some states need separate licenses for consumer, commercial, or mortgage lending. Start by mapping out how your lending product works, who it’s for, and how you plan to fund it. This determines what type of licenses you’ll need.
01
Define Your Lending Model
Licensing is state-based, and some states need separate licenses for consumer, commercial, or mortgage lending. Start by mapping out how your lending product works, who it’s for, and how you plan to fund it. This determines what type of licenses you’ll need.
02
Register Through the NMLS (If Required)
Most states use the Nationwide Multistate Licensing System (NMLS) for lender licenses. You’ll create an account, fill out the MU1 form, and begin uploading documents.
02
Register Through the NMLS (If Required)
Most states use the Nationwide Multistate Licensing System (NMLS) for lender licenses. You’ll create an account, fill out the MU1 form, and begin uploading documents.
03
Submit Financials and Business Plan
States often ask for audited or pro forma financials, a detailed business plan, and a description of your lending products, including rates, terms, and how you’ll stay compliant.
03
Submit Financials and Business Plan
States often ask for audited or pro forma financials, a detailed business plan, and a description of your lending products, including rates, terms, and how you’ll stay compliant.
04
Post a Surety Bond
Most states require a surety bond as part of the application. The amount depends on your loan volume and business type. It protects consumers in case of regulatory violations.
04
Post a Surety Bond
Most states require a surety bond as part of the application. The amount depends on your loan volume and business type. It protects consumers in case of regulatory violations.
05
Provide Background Info
You’ll need to share ownership details, officer resumes, and authorized background checks. Some states require a designated compliance officer or in-state representative.
05
Provide Background Info
You’ll need to share ownership details, officer resumes, and authorized background checks. Some states require a designated compliance officer or in-state representative.
06
Prepare for Follow-Ups
States may follow up with specific questions or request policy updates before issuing your license. Expect some back and forth.
06
Prepare for Follow-Ups
States may follow up with specific questions or request policy updates before issuing your license. Expect some back and forth.
Resources
Resources
Latest Content
Articles
Apr 22, 2025
·
16 min read
Articles
Apr 22, 2025
·
16 min read
FAQ
FAQ
Frequently Asked Questions
Frequently Asked Questions
What licenses do I need to start lending?
What licenses do I need to start lending?
Can I avoid state lender licensing by partnering with a bank?
Can I avoid state lender licensing by partnering with a bank?
How long does lender licensing usually take?
How long does lender licensing usually take?
What licenses do I need to operate as a mortgage lender?
What licenses do I need to operate as a mortgage lender?
Get Support for Your Lender License Strategy
Get Support for Your Lender License Strategy
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.