Who requires it
Wisconsin Department of Financial Institutions — Division of Banking
License & permit · Wisconsin
Wisconsin Sales Finance Company Bond
A sales finance company or applicant for a Wisconsin sales finance company license must provide and maintain a bond or irrevocable letter of credit of not less than $25,000 under Wis. Stat. § 218.0114(5)(b). The security must be in a form acceptable to the Division of Banking, issued by a surety licensed to do business in Wisconsin, and payable to the state of Wisconsin for the use of the state and of any person who sustains a loss because of an act that constitutes grounds for suspension or revocation under chapter 218. DFI manages these licenses and electronic surety bonds through NMLS.
Common bond amount
$25,000 minimum
Statutory minimum under Wis. Stat. § 218.0114(5)(b); form must be acceptable to the Division of Banking.
How you file
File electronically through NMLS, or a Division-acceptable letter of credit
Renewal
Keep continuous; renew license and surety through NMLS
Who requires it
Businesses that acquire retail installment contracts or consumer leases from retail sellers or lessors in Wisconsin and that require a sales finance company license from the Department of Financial Institutions. Motor vehicle dealers that finance sales may need this credential in addition to a dealer license—confirm with DFI which license paths apply to your activity.
How much is required
Wis. Stat. § 218.0114(5)(b) sets a fixed statutory minimum of twenty-five thousand dollars ($25,000). The Division of Banking may prescribe an acceptable form; the published statutory floor is the amount verified for this guide.
How to get and file it
Arrange a Wisconsin-authorized surety or qualifying letter of credit for at least $25,000 in a form acceptable to the Division of Banking, then associate the electronic surety with your NMLS sales finance company record as DFI’s checklist requires. Keep the bond or letter of credit in force while licensed. Renew the sales finance company license through NMLS on the Division’s cycle and update the electronic surety before any lapse.
Cost note
Twenty-five thousand dollars is the required bond (or letter-of-credit) amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- Not less than $25,000
- Payable to
- State of Wisconsin for the state and damaged persons
- Filing
- Electronic surety through NMLS with the DFI sales finance company license
Official sources
Frequently asked questions
Is this the same as the WisDOT dealer bond?
No. The dealer bond runs to the Department of Transportation under Form MV2511. The sales finance company bond is a separate DFI / Division of Banking requirement under Wis. Stat. § 218.0114(5)(b).
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Wisconsin application
Wisconsin will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-10. This guide is based on verified educational content and official sources.
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