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Bureau of Financial Institutions

Application Forms - Consumer Finance Companies

Section 6.2-1507 of the Code of Virginia sets forth the qualifications for licensing of consumer finance companies. It requires the Commission, before granting a consumer finance license, to make a finding, among other things, that an applicant, and its directors, senior officers and principals have the financial responsibility, character, experience and general fitness to command the confidence of the public and to warrant belief that the business will be operated lawfully, honestly, fairly, and efficiently. We consider all the factors required by the Code to make a determination whether a particular applicant qualifies. A person applying for a consumer finance license should have experience in consumer lending or a closely related business. The applicant will be given the opportunity to talk to the analyst handling the application to discuss his/her experience and demonstrate he is knowledgeable of the business and familiar with Virginia laws and regulations and applicable federal laws. We do not administer a separate written exam and do not offer courses.

In addition, the Code requires that an applicant has available, for the operation of the business, liquid assets of at least $50,000 if the specified location is in a city or county with a population of more than 20,000, or of at least $25,000 if the location is not in a city or county with a population of more than 20,000.

Applicants who intend to engage in or permit any other business in their licensed location(s) must file a notice for each other business to be conducted.

Applicants for a license to conduct a consumer finance business should carefully review all laws, regulations, and administrative letters governing consumer finance companies prior to submitting an application. Links to related laws and regulations appear below. Code and Regulation Sections can be viewed and downloaded individually or a report of multiple Sections can be created and downloaded. To download multiple Sections click on “create report” at the beginning of the table of contents for the specific Chapter and enter the beginning and ending Section of the sequence you wish to download. It is your responsibility to read and comply with all applicable laws and regulations.

Following are applications and related forms for new consumer finance companies and for existing licensees, including applications for additional offices and office relocations, for the acquisition of licensees, and notices for other business to be conducted. Each application form includes filing instructions. Some application types require the filing of supplemental forms. In each instance, the appropriate supplemental forms are listed directly following the application form. It is important to carefully read and follow all instructions and to provide full and complete responses. Investigation of the application may be delayed if the application is incomplete.

Note: Links to the Code of Virginia and Virginia Administrative Code in the menus below are external linksExternal Link logoand will take you off the SCC website.

Application Steps

  1. Click on the appropriate application form and download the PDF file. Instructions for each application are included in the application form.
  2. Download each supplemental form related to the specific application. (Applicable supplemental forms will be listed immediately following the application form).
  3. Read and follow all instructions in completing the application.
  4. Once the application has been completed, review the form making sure that all items have complete responses, the application is properly signed, and any required supplemental forms have been completed and included as part of the application package.
  5. New applicants should view and download applicable laws, regulations, and administrative letters listed above by clicking on each item in the dropdown boxes. Sections of applicable chapters of the Code of Virginia can be printed individually or multiple Sections can be downloaded by clicking on “create report” at the beginning of the table of contents for the specific Chapter and enter the beginning and ending Section of the sequence you wish to download.
  6. Since new applicants are required to have knowledge of legal requirements it is important for the applicant to read and understand all related laws and regulations before applying for the license.

Application Forms

  • NEW CONSUMER FINANCE LICENSE
  • CCB-4402 Application for a Consumer Finance License Pursuant to Chapter 15 of Title 6.2 of the Code of Virginia
  • SUPPLEMENTAL FORMS
    • CCB-1123 Personal Financial Report and Disclosure Statement
    • CCB-1143 Limited Personal Financial Report and Disclosure Statement
    • CCB-1149 Depository Institution Authorization Form
    • CCB-1150 Employment and Business Affiliation Disclosure Form
  • CONSUMER FINANCE BUSINESS AND OTHER BUSINESS AT SAME LOCATION
  • CCB-4403 Notice to Conduct Consumer Finance Business and Other Business at Same Location
  • CHANGE THE LOCATION OF A CONSUMER FINANCE OFFICE
  • CCB-4406 Notice of Intent to Change the Location of a Consumer Finance Office
  • ADDITIONAL CONSUMER FINANCE OFFICE
  • CCB-4407 Application for an Additional Consumer Finance Office Pursuant to Section 6.2-1507B of the Code of Virginia
  • ACQUIRE CONTROL OF A CONSUMER FINANCE LICENSEE
  • CCB-4408 Application for Permission to Acquire Control of a Consumer Finance Licensee Pursuant to Section 6.2-1510 of the Code of Virginia
  • SUPPLEMENTAL FORMS
    • CCB-1123 Personal Financial Report and Disclosure Statement
    • CCB-1143 Limited Personal Financial Report and Disclosure Statement
    • CCB-1149 Depository Institution Authorization Form
    • CCB-1150 Employment and Business Affiliation Disclosure Form

Note: All applications are investigated by the Bureau of Financial Institutions. Certain application decisions are made by the Commissioner of Financial Institutions under delegated authority from the State Corporation Commission. In the event you wish to appeal either a determination made by the Bureau of Financial Institutions in the course of its investigation of your application or the Commissioner of Financial Institutions’ decision on your application, you may request a formal review by the State Corporation Commission in accordance with its Rules of Practice and Procedure