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Apply for a Collection Agency License


Follow these steps to apply for a collection agency license.

  1. Go to www.pulseportal.com, select "Minnesota Department of Commerce" as the program, and "Debt" as the board. Then click on "Submit License Application" and follow the instructions from there.

  2. Fees are paid via the online portal: The initial registration fee is $1,050 state fee. In accordance with Minn. Stat. 16E.22, this fee includes a 10% OET surcharge, which is being collected on behalf of the Minnesota Office of Enterprise Technology to fund a statewide electronic licensing system. The online system vendor also charges a $9.95 application fee and a credit card processing fee.

  3. Each branch of a Collection Agency must obtain a separate license. The fee for a branch location is $550.00. In accordance with Minn. Stat. 16E.22, this fee includes a 10% OET surcharge, which is being collected on behalf of the Minnesota Office of Enterprise Technology to fund a statewide electronic licensing system.

  4. After you submit your Agency/Branch application, you should do an application status inquiry on www.pulseportal.com to see when the license is issued. After the license is issued, you can print a copy of it.

  5. A State ID and PIN number will be printed on page 2 of the license. That number must be used to set up an account on www.pulseportal.com. Once the account is set up for your agency, you will be able to submit individual debt collector registration applications and perform other functions on the system.

  6. After the Minnesota Department of Commerce approves your agency license, at least one Minnesota-licensed Debt Collector must be affiliated with your agency within 30 days, or the department reserves the right to cancel or terminate the agency license. This requirement does not apply to a 'Letter Service Only' licensee.

  7. The original Minnesota Surety Bond for each licensed place of business must be mailed to the Minnesota Department of Commerce along with a copy of the application confirmation page from www.pulseportal.com. The Power of Attorney must also be attached to Surety Bond along with an itemized financial statement form.

  8. If the collection agency name is different from the legal name of the corporation, partnership, other business entity, or individual owner, a copy of the Certificate of Assumed Name, filed and stamped by the Minnesota Secretary of State must be faxed to the Minnesota Department of Commerce at 651-539-0111 along with a copy of the application confirmation page from www.pulseportal.com.

    • Information about filing for a Certificate of Assumed Name may be obtained from the Secretary of State (www.sos.state.mn.us), 180 State Office Building, 100 Constitution Avenue, St. Paul, MN 55155, telephone 651-296-2803).

  9. The following must be faxed to the Minnesota Department of Commerce at 651-539-0111 along with a copy of the application confirmation page from www.pulseportal.com:

    • If the collection agency is a corporation, a copy of the Articles of Incorporation that were filed and stamped by the Minnesota Secretary of State.

    • If the collection agency is a partnership, a copy of the partnership agreement signed by all partners.

    • If the collection agency is a Limited Liability Company or other business entity, a copy of the business organization documents.

  10. A completed "Disclosure of Owners, Partners, Officers" form, providing names and addresses of owner, officers, directors, 25% shareholders, partners, or employees who exercise management or policy control in the company must be faxed to the Minnesota Department of Commerce at 651-539-0111 along with a copy of the application confirmation page from www.pulseportal.com


Contact the Minnesota Department of Commerce at (P) 651-539-1599 or (F) 651-539-0111.