50-State Financial Services Licensing Compliance Guide
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Minnesota Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in Minnesota.

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Company Licenses

Minnesota Financial Services Company Licenses

Minnesota Accelerated Mortgage Payment Provider License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Collection Agency Branch License

Agency:Minnesota Department of Commerce - Licensing Unit
Foreign Qualification is Prerequisite:Not Set
Bond Requirements:

$50,000 + an additional $5,000 for each $100,000 received by the agency from Minnesota debtors in the previous year. $100,000 is the maximum bond amount required.

Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Initial Registration

Filing Method:

Online

Agency Fee:

$500 registration fee + $9.95 application fee.

Registration Renewal

Filing Method:

Online

Agency Fee:

$400 + $9.95 application fee.

Due:

Annually by June 30.

Amendment

Filing Method:

Online

Agency Fee:

$0

Notes:

Licensees can change their address and manage employees through the PULSE portal.

Minnesota Collection Agency Exemption

Agency:Minnesota Department of Commerce - Licensing Unit
Foreign Qualification is Prerequisite:Not Set
Notes:

Out-of-state agencies may be eligible for exemption if they limit Minnesota activities to collecting debts not incurred in Minnesota from Minnesota residents using phone, email, mail, or fax.

Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Renewal Not Required

Not required



Exemptions do not expire once granted as long as the exempt agency continues to operate under exemption criteria.

Minnesota Collection Agency License

Agency:Minnesota Department of Commerce - Licensing Unit
Foreign Qualification is Prerequisite:Yes
Bond Requirements:

$50,000 + an additional $5,000 for each $100,000 received by the agency from Minnesota debtors in the previous year. $100,000 is the maximum bond amount required.

Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Initial Registration

Filing Method:

Online

Agency Fee:

$1,000 registration fee + $9.95 application fee.

Registration Renewal

Filing Method:

Online

Agency Fee:

$400 + $9.95 application fee.

Due:

Annually by June 30.

Amendment

Filing Method:

Online

Agency Fee:

$0

Notes:

Licensees can change their address and manage employees through the PULSE portal.

Minnesota Consumer Small Loan Lender Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Consumer Small Loan Lender License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Credit Services Organization License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Currency Exchange Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Currency Exchange License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Currency Exchange Registration

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Debt Management Services Provider Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Debt Management Services Provider Company License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Debt Settlement Services Provider Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Debt Settlement Services Provider Company License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Electronic Financial Terminal License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Industrial Loan and Thrift Company Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Industrial Loan and Thrift Company License - Depository

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Industrial Loan and Thrift Company License - Non Depository

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Insurance Premium Finance Company License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Money Transmitter License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Mortgage Originator or Servicer Branch Registration

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Motor Vehicle Sales Finance Company Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Motor Vehicle Sales Finance Company License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Regulated Loan Company Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Regulated Loan Company License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Residential Mortgage Originator Certificate of Exemption

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Residential Mortgage Originator License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Residential Mortgage Servicer Certificate of Exemption

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Residential Mortgage Servicer License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Residential PACE Administrator Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Residential PACE Administrator License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Student Loan Servicer - Federal Contract

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Student Loan Servicer Branch License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Minnesota Student Loan Servicer License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Individual Licenses

Minnesota Individual Financial Services Licenses

Minnesota Debt Collector License

Agency:Minnesota Department of Commerce - Licensing Unit
Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Initial Registration

Filing Method:

Online

Agency Fee:

$10 license fee + $9.95 application fee.

Registration Renewal

Filing Method:

Online

Agency Fee:

$10 license fee + $9.95 application fee.

Due:

Annually by June 30.

Minnesota Mortgage Loan Originator License

Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Explore licensing in other states:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho
Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri
Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania
Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Revised April 19, 2024. Complete data last reviewed January 08, 2019.
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