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.
- This page, Apply for a finance company license, is offered by
- Division of Banks
Apply for a finance company license
Contacts
Division of Banks
Phone
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm. Use this number if you are hearing impaired.
Online
Contact us
Contact detail by unit or inquiry
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 for 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
Open PDF file, 19.11 KB,
209 CMR 26.00: Small loan regulatory board
(English, PDF 19.11 KB)
Open PDF file, 223.5 KB,
209 CMR 32.00: Truth in Lending
(English, PDF 223.5 KB)
Open PDF file, 88.1 KB,
209 CMR 48.00: Licensee Record Keeping
(English, PDF 88.1 KB)
Open PDF file, 159.82 KB,
955 CMR 2.00: The Financing of Insurance Premiums
(English, PDF 159.82 KB)
Contact for Apply for a finance company license
Address
Phone
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm. Use this number if you are hearing impaired.
Online
Contact us
Contact detail by unit or inquiry