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Apply for a finance company license

The Division of Banks (DOB) licenses consumer finance companies, including insurance premium finance companies, motor vehicle finance companies, retail installment finance companies, and small loan companies.

Division of Banks

Phone

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm. Use this number if you are hearing impaired.

The Details of Apply for a finance company license

What you need for Apply for a finance company license

You must file all applications for company or branch licenses with the DOB through the Nationwide Multi-State Licensing System (NMLS). 

The DOB recommends reviewing all applicable laws, regulations, and regulatory bulletins before you submit a license application. 

Fees for Apply for a finance company license

Name Fee Unit
License fee (insurance premium, motor vehicle, and retail installment finance companies) $1,000 per license
Small loan company license fee* $1,100 per license
Investigation fee (all finance companies) $300 per license
Credit report fee (all finance companies) $15 per control person(s)
FBI criminal background check fee (all finance companies) $36.25 per owner(s) or control person(s)

How to apply Apply for a finance company license

All finance company license applications are submitted online using NMLS. Any supporting documents must be mailed to the DOB.

If you are associated with a company, it is important to check in with your company before creating or completing a record in NMLS.

Mail documents to the Division of Banks:

Massachusetts Division of Banks

Loan Originator Licensing

1000 Washington Street, 10th Floor

Boston, MA 02118

More info about Apply for a finance company license

* The small loan company license fee includes a $100 lead paint surcharge fee in accordance with Chapter 482, section 22 of the Acts of 1993.

All fees collected through the NMLS are nonrefundable. 

Downloads for Apply for a finance company license

Contact for Apply for a finance company license

Address
Main Office
1000 Washington Street, 10th Floor, Boston, MA 02118-6400
Phone

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm. Use this number if you are hearing impaired.

Fax
(617) 956-1599

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