Short answer
It depends on the loan products and the states. Beyond the money you lend, states set minimum net worth requirements for many lending licenses, and you will need working capital for licensing fees, surety bonds, technology, and operations. Plan around the highest net worth thresholds in your target states, not the lowest.
Two separate pools of capital matter when you start a lending business. The first is the money you lend, which depends entirely on your loan sizes and volume. The second is the capital regulators and operations require: many states set a minimum net worth to hold a lending license, and you also need funds for application fees, surety bonds, compliance systems, and day-to-day operations before loans start performing.
Because net worth requirements and fees vary by state and license type, a multi-state lender should plan around the strictest states it intends to enter. Confirm the current net worth, bond, and fee figures with each state regulator rather than relying on a single national number, since amounts change and differ by license category.
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