License Minnesota

Motor Vehicle Finance Company

Minnesota Department of Commerce

Agency contact information:

Commerce, Minnesota Department of
85 7th Place East, Suite 500
St. Paul, MN 55101
(651) 539-1600 | (800) 857-3602
Division of Financial Institutions
(651) 539-1700
(651) 539-1548 (fax)
Contact Info: Darrell May


Minnesota Department of Commerce

Motor Vehicle Finance

Financial Institutions

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The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.


Minn. Stats. 53C


Motor Vehicle Sales Finance Application

Annual Report 

Contact the department or obtain the application forms from the MN Dept. of Commerce website, Financial Institutions section at Motor Vehicle Finance.


Complete the application and annual report.

A biographical statement on each shareholder of 10 percent or more of stock, each director and officer, the proposed manager, and supervisor.

Provide loan and contract forms to be used and describe the method of accounting (precomputed or simple interest).

Provide evidence of current worker's compensation insurance.

Minnesota location.


Application Fee for Principal office - $250

Branch office - $125

Period of Issuance:

Annual, expire on June 30.

Length of Determination Process:

30-60 days.

Other Pertinent Information:

May be an individual, partnership, corporation, LLC, LLP, or association.

Minn. Stat. § 53C.01-.14.

An annual report will need to be filed annually using data as of December 31.

Any material changes to the information that was submitted with the initial application must be made within ten (10) days of the change.