Michigan Installment Seller License Application, Procedures and Fees

• Category: Michigan Secretary of State - Blue Sky - Securities - Debt Management
• State: Michigan
• Control #: MI-FIS-1028
• Format: PDF

Description

Installment Seller License Application, Procedures and Fees Michigan Installment Seller License Application, Procedures and Fees is a system that allows businesses to apply for and obtain a Michigan Installment Seller License. This license is required for businesses that sell goods or services on an installment basis, meaning that customers can pay for their purchases in multiple, predetermined installments instead of all at once. The application process requires businesses to provide information about their business, their products, and their services, and must also include materials such as a financial statement and a surety bond. The Michigan Department of Licensing and Regulatory Affairs (LARA) handles the application process and fees associated with obtaining a Michigan Installment Seller License. The fees for this license vary depending on the type of business, but generally range from $50-$200. Once the application is approved, businesses will need to renew their license annually, with renewal fees ranging from $50-$200 depending on the type of business. The types of Michigan Installment Seller License Applications, Procedures and Fees vary depending on the type of business. For example, those businesses selling retail goods may need to apply for a Retail Installment Seller License, while businesses selling services may need to apply for a Service Installment Seller License. Other types of licenses may include a Motor Vehicle Installment Seller License, an Installment Loan Broker License, and a Mortgage Loan Originator License.

Michigan Installment Seller License Application, Procedures and Fees is a system that allows businesses to apply for and obtain a Michigan Installment Seller License. This license is required for businesses that sell goods or services on an installment basis, meaning that customers can pay for their purchases in multiple, predetermined installments instead of all at once. The application process requires businesses to provide information about their business, their products, and their services, and must also include materials such as a financial statement and a surety bond. The Michigan Department of Licensing and Regulatory Affairs (LARA) handles the application process and fees associated with obtaining a Michigan Installment Seller License. The fees for this license vary depending on the type of business, but generally range from $50-$200. Once the application is approved, businesses will need to renew their license annually, with renewal fees ranging from $50-$200 depending on the type of business. The types of Michigan Installment Seller License Applications, Procedures and Fees vary depending on the type of business. For example, those businesses selling retail goods may need to apply for a Retail Installment Seller License, while businesses selling services may need to apply for a Service Installment Seller License. Other types of licenses may include a Motor Vehicle Installment Seller License, an Installment Loan Broker License, and a Mortgage Loan Originator License.