Lending License Compliance for Fintech Startups
Brico helps consumer and commercial lending startups apply for and maintain state licenses—without relying on expensive licensing vendors or law firms. We support credit, servicing, collections, and brokering licenses across all 50 states with automated workflows and expert-backed compliance tools.
Why State Lending License Compliance Slows Startups Down
Each state has its own rules for credit, servicing, collections, and brokering licenses—making multi-state expansion confusing and time-consuming for early-stage lending teams. Without dedicated legal resources, startups burn capital, miss deadlines, and risk delays that impact product launches and investor momentum.
No Two States Require the Same Documentation
Each jurisdiction sets different forms, fees, and qualifications. Without a centralized process, startup teams waste time figuring out what to file and when.
Legal Help Is Expensive and Slows You Down
Law firms bill by the hour and often don’t understand tech workflows or lending models, delaying your licensing strategy and burning through your budget.
One Missed Filing Can Jeopardize Your Launch
Without clear visibility into state-by-state requirements, it’s easy to miss a step—causing launch delays, investor doubt, and lost market traction.
How Brico Helps Lending Startups Launch Faster and Stay Compliant
Brico helps consumer and commercial lending startups apply for and manage state licenses for credit, servicing, collections, and brokering—without the legal overhead. Our platform replaces spreadsheets and manual tracking with smart automation, centralized compliance workflows, and expert-backed licensing support. From application prep to renewals, Brico gives startups a faster, audit-ready path to scale—no law firm required.
Up-To-Date Requirements
100+ checklists, 500 pages of state code distilled to create up-to-date actionable and easy to understand requirements across all US states.
Intelligent Automation
Auto form-filling and faster application preparation by leveraging smart data mapping.
Reduced Paperwork
Over 200 paper forms digitized in-product so you reduce reliance on physical paper
Centralized Source of Truth
Centralize all work and knowledge in one platform to own your source of truth for future exams and audits. Never lose context during team expansion or employee turnover.
Built-in Project Management
Effortlessly collaborate with team members and external vendors by assigning tasks, automating reminders and feedback. Save valuable time by eliminating the need for repetitive follow-ups on tasks.
Licensing Expert-in-the-Loop
Get the benefit of a dedicated licensing expert to help unblock any hurdles in addition to the guidance in our platform.
Teresa Bruce
Senior Paralegal, iBusiness Funding (f/k/a Funding Circle)
FAQs for Lending Startups
Have questions about state lending licenses? You’re not alone. These are the top compliance questions we hear from lending startups navigating multi-state licensing for credit, servicing, collections, and brokering.
What is a state lending license?
A lending license is a state-issued license required to originate, service, broker, or collect on loans. Each license type—credit, servicing, collections, and brokering—has its own forms, fees, and requirements. You’ll need a license in every state where you operate.
Do lending startups need licenses to launch?
If your company extends credit, services loans, or collects payments, state licenses are almost always required before launch. Brico helps you map out exactly which licenses you need and streamlines the application process across all 50 states.
What are the penalties for state lending license noncompliance?
Failing to comply with state lending license requirements—such as missed renewal deadlines or operating without proper licensing—can result in regulatory fines, reputational damage, license suspensions, and cease-and-desist orders. Staying compliant in all jurisdictions is essential to avoid disruptions and maintain lender credibility.
Schedule a Demo
Discover how Brico can simplify your new license applications.