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Loan Solicitation

The State of Vermont participates in the Nationwide Multistate Licensing System (NMLS).  All applications for a lender license must be submitted through NMLS.

Frequently Asked Questions

Jurisdiction Specific Forms

Financial Statement


Annual Report of Licensee for YE 12/31/2023 is now in electronic form. Due April 1, 2024.

Vermont Related/Referenced Statutes and Regulations

Who is required to have this license?

Any company or person who for compensation or gain, or in the expectation of compensation or gain: (i) offers, solicits, brokers, directly or indirectly arranges, places, or finds a loan for a prospective Vermont borrower; (ii) engages in any activity intended to assist a prospective Vermont borrower in obtaining a loan, including lead generation; (iii) arranges, in whole or in part, a loan through a third party, regardless of whether approval, acceptance, or ratification by the third party is necessary to create a legal obligation for the third party, through any method, including mail, telephone, Internet, or any electronic means; or (iv) advertises or causes to be advertised in Vermont a loan or any of the services described in (i) –(iii). This license does not include the authority to engage in the business of making loans.  [Note: The company’s main office must be licensed as a loan solicitor prior to, or simultaneously with, the filing of a branch loan solicitation license.]

Who does not need this license?

The following is a partial list of exceptions.  For a complete list of exceptions, please refer to 8 V.S.A. § 2201(d)

  • a depository institution [see the definition of “depository institution” in 8 V.S.A. § 11101(32)]
  • an insurance company
What are the fees?

Application: $1,100.00 (includes a $500.00 Licensing Fee, a $500.00 Investigation Fee; and the $100 NMLS processing fee)

Renewal: $500.00 (Includes $100 NMLS processing fee)

Change in Address: $100.00

What are the prerequisites for license application?
  • Bond amount: $ 25,000.00, minimum amount or such sum as the commissioner may require.
  • Registered Agent recorded with the Vermont Secretary of State.