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Nevada Collection Agency License: Step-by-Step Guide

In Nevada, any entity engaging in debt collection business is required to obtain a Collection Agency license. NV entities who solicit or obtain payments of owed or due debt (in any way) must also hold a Collection Agency license. These licenses are regulated and issued by the Nevada Department of Business and Industry - Financial Institutions Division (FID) .


The application process for new license applications and renewals is handled by the Financial Institutions Division.

1

You can access all applicable applications and forms online via the Financial Institutions Collection Agency Application page .


Note: You may apply for a Branch office license once your Collection Agency license is obtained.


2

Fulfill Requirements and Obtain Required Documents

Apart from a completed and signed application form, applicants are also required to provide the following:


  • Fingerprint Authorization : Applicants must submit a set of fingerprints, as well as a written permission that authorizes the Division of Financial Institutions to submit the fingerprints to the FBI. This is required of all officers, managers, partners, and directors.

  • Financial Statement : Applicants must attach a current financial statement to the application form, showing the net worth, assets, and liabilities of the license applicant.


3

Obtain Your NV Collection Agency Bond

When applying for a NV Collection Agency license, applicants are required to furnish a surety bond in the amount of $35,000. This bond must be issued by a surety company authorized to conduct business in Nevada.


Note : Within 3 months of issuing the license, the Financial Institutions Commissioner will review the licensee’s average monthly balance and alter the bond amount if required.


  • Bond Amount:

    • $35,000 initial surety bond

    • $35,000 surety bond for average monthly balance under $100,000

    • $40,000 surety bond for $100,000 - $150,000 average monthly balance

    • $50,000 surety bond for $150,000 - $200,000 average monthly balance

    • $60,000 surety bond for average monthly balance above $200,000


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4

License Fees

All fees are non-refundable and non-transferable.


  • NV Licensing Fee : $375


5

Submit Your Collection Agency License Application

Mail your completed application (along with all applicable documentation and fees) to:


Mailing Address:
Nevada Financial Institutions Division
Department of Business and Industry
ATTN: Application Processing
1830 College Pkwy, Suite 100
Carson City, NV 89706


If you have questions or need further information regarding the licensing process, contact the Department of Business and Industry at (775) 684-2970 or [email protected].




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