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Money Brokers

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.

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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 facilitates lending across borders, you may be considered a money broker and could be subject to licensing requirements in applicable states.

Cross-Border Lending Fintechs

If you are a fintech that facilitates lending across borders, you may be considered a money broker and could be subject to licensing requirements in applicable states.

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.

Learn More About Money Brokers

Compliance Program Management for Money Brokers

Steps

How to Get a Money Broker License

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.

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.

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.

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.

Prepare Application Documents

Most states ask for audited financials, a surety bond, ownership disclosures, and internal compliance policies like AML and data security.

Prepare Application Documents

Most states ask for audited financials, a surety bond, ownership disclosures, and internal compliance policies like AML and data security.

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.

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.

Respond to Regulator Requests

State regulators may ask for more details after reviewing your application. Timely responses help keep the review process on track.

Respond to Regulator Requests

State regulators may ask for more details after reviewing your application. Timely responses help keep the review process on track.

Maintain the License

Licenses must be renewed annually. You may also need to file periodic reports or undergo regulatory exams, depending on the state.

Maintain the License

Licenses must be renewed annually. You may also need to file periodic reports or undergo regulatory exams, depending on the state.

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Anti-Money Laundering
Cost-Effective Services
Fintech Specialists
Expert Solutions
Hands-On Support
Global Coverage
Since 2013
Licensing and Registration
Compliance Program Development
Compliance Program Management
Risk Management
Cybersecurity Program

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FAQ

Frequently Asked Questions

Do money brokers need a license in every state?

When is a money broker considered to be “operating” in a state?

Do I need a separate license for mortgage brokering?

Is a money broker allowed to advertise without being licensed?

Let’s Talk About Your Money Broker Licensing Needs

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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.

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Licensing Services

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Broker-Dealer Registration

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9100 S Dadeland Blvd
Suite 1500
Miami, Florida 33156

Licensing Services

By Vertical

Broker-Dealer Registration

Investment Advisor Registration

MSB Registration

Money Transmitter License

Currency Exchange License

Check Casher License

Lender License

Payment License

Crowdfunding Portal Registration

Crypto License

Forex Broker License

Resources

Learn

Blog

Case Studies

Regulatory Updates

FINRA Rules

Downloads

Ebooks

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About InnReg

Company

Who We Are

Why InnReg

Regly

Careers

Referral Program

Legal

305-908-1160

9100 S Dadeland Blvd
Suite 1500
Miami, Florida 33156