How to License a Consumer Loan Company:
- Read KRS 286.4 and the applicable administrative regulations under KAR 808, Chapter 6.
- Submit the application, surety bond and all other required documents online via NMLS. The initial application and license fee is $1,000.
How to Renew a Consumer Loan Company License:
- Read KRS 286.4.
- Submit renewal online via NMLS.
Licenses must be renewed each calendar year. All entities must renew by December 20 each year. The renewal fee is $500 per location. If the licenses are not renewed before they expire, there will be a 30-day reinstatement period and a $100 additional fee.
Notice
DFI issued an advisory to DFI-regulated lenders announcing the Department of Defense's final rule on limitations on consumer credit extended to military service members and their dependents.
For More Information
Contact Eveanna Hunt at (502) 782-1298 with questions about applications, licensing, registration or exemptions.
Contact Rebecca Arthur at (502) 892-4130 about regulatory or compliance questions.
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