Massachusetts Marijuana Surety Bond

Essentially, a marijuana surety bond is an agreement made among three parties: the principal, obligee, and surety. In Massachusetts, the bond’s principal is the marijuana establishment, the obligee is the Marijuana Regulation Fund, and the surety is The ProSure Group. The bond is a financial guarantee to the CCC that, in exchange for licensure, the principal will maintain enough funds to eradicate their marijuana products if their establishment closes down. In case the principal fails in their obligations under the license agreement, the surety pays the Marijuana Regulation Fund for the principal in exchange for the latter reimbursing the surety.

The amount of a marijuana establishment bond in Massachusetts is equal to each applicant’s annual license fee. License fees vary, however, according to the type (and, sometimes, the size) of the marijuana establishment. Here’s an overview of the marijuana licenses and corresponding surety bond amounts in Massachusetts. (Remember that we charge only a small percentage of each bond amount.)

The ProSure Group only charges a fraction of the bond amount, while the exact percentage is based on the applicant’s credit score and financial history. Rates can be as low as 1 percent for well-qualified applicants, while those with lower credit scores are still encouraged to apply. We have a fast and easy online application — or call us today to apply over the phone!

We can approve most applicants for marijuana bonds in Massachusetts, including those with low credit scores. If your credit needs improvement, you could end up paying a higher bond rate up front. However, you can always apply for a marijuana bond now, qualify for licensure, and then reapply for a lower rate when your credit score improves; these bonds are renewed annually. You could also reduce the rate for which you qualify by showing us additional financial documents that strengthen your application.

If you’re applying for a marijuana establishment license in Massachusetts, your surety bond must be issued by a corporate surety that’s licensed to perform business in the Commonwealth. As a nationwide surety bond authority, The ProSure Group is authorized to issue marijuana bonds in Massachusetts, and our surety experts are familiar with the state’s marijuana laws and licensing requirements. We’ll guide you step-by-step through the application process if necessary. To make things easier, we also offer secure online payments, premium financing plans, and a bad credit program to help everyone qualify. Obtain the license surety bonds that you need today!