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Regulated Lenders


Regulated lenders make consumer loans, up to $100,000, and are frequently referred to as finance companies. See MS 56. These companies are required to be licensed in Minnesota. Licensing requirements and appropriate forms are available here.

License Requirements

  • Complete the Regulated Lender Application and review the Annual Report

  • $500 investigation fee, $250 license fee, $75 surcharge (total $825) 

  • Minnesota location 

  • Minimum $50,000 in liquid assets 

  • A biographical statement on each shareholder of 10 percent or more of stock, each director and officer, the proposed manager, and supervisor. 

  • Provide evidence of current workers' compensation insurance

Renewal

  • Licenses issued under MS Chapter 56 expire annually on December 31. 

  • Renewal notices will be sent to licensees at the address on record in November of each year. 

  • $250 renewal fee plus $25 surcharge (total $275) for each location

Changes to the License

If a name and/or address change is proposed, please call 651-539-1600 for procedures.

Use the License Lookup Tool for a list of licensed companies.