What is the minimum surety bond amount required for lender licenses?

The minimum surety bond amount required for lender licenses in South Carolina is indeed set at $50,000. This amount is established to ensure that lenders operate in compliance with state laws and regulations, providing a financial safety net for consumers in case of misconduct or non-compliance. The bond serves as a guarantee that the lender will adhere to applicable laws and can compensate for any potential damages resulting from their actions. Having this bond amount specified emphasizes the state’s commitment to maintaining a level of consumer protection within the lending industry. Other amounts listed, while they may be related to different types of financial entities or requirements, do not reflect the specific minimum bond requirement for lender licenses.