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Regulated Lenders

Regulated lenders make consumer loans, up to $100,000, higher if capitalized, and are frequently referred to as finance companies.

See MS 56. These companies are required to be licensed in Minnesota. Licensing requirements and appropriate forms are available here.

License Requirements

  • Complete the Regulated Lender Application (.pdf) and review the Annual Report (.pdf)

  • $500 investigation fee, $250 license fee (total $750)

  • Minnesota licensed location or registered agent

  • Minimum $50,000 in liquid assets

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

  • Provide evidence of current workers' compensation insurance


  • Licenses issued under Minnesota Statute Chapter 56 expire annually on December 31.

  • Renewal notices will be sent to licensees at the address on record in November of each year.

  • $250 renewal fee for each location

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