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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 12/31/2022 is now in electronic form. Due April 1, 2023.

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?


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


$500.00 (Includes $100 NMLS processing fee)

Change in Address: $100.00

What are the prerequisites for license application?
  • Applicant must be licensed to engage in loan solicitation in its state of domicile, if applicable, and must be in good standing in its state of domicile with its banking regulator or equivalent financial industry regulator.
  • Bond amount: $ 25,000.00, minimum amount  or such sum as the commissioner may require.
  • Registered Agent recorded with the Vermont Secretary of State.