Money Broker License Services
Money Broker License Services
State laws often require a money broker license if you're brokering or making loans, even for commercial use. We help fintechs understand the rules, prepare applications, and meet state-level requirements.
State laws often require a money broker license if you're brokering or making loans, even for commercial use. We help fintechs understand the rules, prepare applications, and meet state-level requirements.
As seen on:
As seen on:
As seen on:
Eligibility
Eligibility
When Is a Money Broker License Required?
Many companies need a money broker license to legally broker or offer loans in one or more states. Some don’t realize they’re considered brokers under state law. Below are examples of businesses that typically fall into this category:
Loan Marketplaces
Platforms that match borrowers with lenders for a fee, including peer-to-peer lending models, often require a money broker license in most states.
Loan Marketplaces
Platforms that match borrowers with lenders for a fee, including peer-to-peer lending models, often require a money broker license in most states.
Cross-Border Lending Fintechs
If you are a fintech that allows for lending across international waters, you are a money broker and must be licensed as such.
Cross-Border Lending Fintechs
If you are a fintech that allows for lending across international waters, you are a money broker and must be licensed as such.
Nonbank Credit Providers
Companies extending credit without being a licensed bank or credit union should be aware of their money broker licensing requirements.
Nonbank Credit Providers
Companies extending credit without being a licensed bank or credit union should be aware of their money broker licensing requirements.
Lending APIs and Integrators
Back-end tech providers that help others offer credit products through digital platforms must register as money brokers.
Lending APIs and Integrators
Back-end tech providers that help others offer credit products through digital platforms must register as money brokers.
Steps
Steps
How to Get a Money Broker License
01
Map Out Your Lending Footprint
Determine which states your borrowers are in and whether your activities count as money brokering under each state’s laws.
01
Map Out Your Lending Footprint
Determine which states your borrowers are in and whether your activities count as money brokering under each state’s laws.
02
Register Your Company
Before applying for a license, most states require you to register your entity with the Secretary of State and appoint a registered agent.
02
Register Your Company
Before applying for a license, most states require you to register your entity with the Secretary of State and appoint a registered agent.
03
Prepare Application Documents
Most states ask for audited financials, a surety bond, ownership disclosures, and internal compliance policies like AML and data security.
03
Prepare Application Documents
Most states ask for audited financials, a surety bond, ownership disclosures, and internal compliance policies like AML and data security.
04
Apply Through NMLS
Submit your license application through the Nationwide Multistate Licensing System. You’ll need to complete forms, upload documents, and pay state-specific fees.
04
Apply Through NMLS
Submit your license application through the Nationwide Multistate Licensing System. You’ll need to complete forms, upload documents, and pay state-specific fees.
05
Respond to Regulator Requests
State regulators may ask for more details after reviewing your application. Timely responses help keep the review process on track.
05
Respond to Regulator Requests
State regulators may ask for more details after reviewing your application. Timely responses help keep the review process on track.
06
Maintain the License
Licenses must be renewed annually. You may also need to file periodic reports or undergo regulatory exams, depending on the state.
06
Maintain the License
Licenses must be renewed annually. You may also need to file periodic reports or undergo regulatory exams, depending on the state.
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
Do money brokers need a license in every state?
Do money brokers need a license in every state?
When is a money broker considered to be “operating” in a state?
When is a money broker considered to be “operating” in a state?
Do I need a separate license for mortgage brokering?
Do I need a separate license for mortgage brokering?
Is a money broker allowed to advertise without being licensed?
Is a money broker allowed to advertise without being licensed?
Let’s Talk About Your Money Broker Licensing Needs
Let’s Talk About Your Money Broker Licensing Needs
Who We Serve
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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.