Longline Lending

As a non-depository financial institution licensed by the South Dakota Division of Banking (holding Money Lender License # 2471751.MYL) Longline Lending LLC adheres to SDCL 54‑4 which governs Money Lenders engaging in loan origination, servicing, note acquisition, sale, or brokerage. Our compliance framework includes:

Surety Bond: Maintaining a sufficient bond to safeguard clients, as required by SDCL 54‑4-42.
Quarterly Reporting: Submission of Uniform Loan Transaction Requests (ULTRs) or other alternative filings as required within 14 days of each quarter’s end.
Annual License Renewal: Renewed annually by December 31 to maintain compliance (SDCL 54‑4-45). Annual certified financial reports submitted by March of each year to the South Dakota Division of Banking and NMLS.
BSA/AML Standards: Robust KYC, customer identification, and suspicious activity reporting, per state and federal FinCEN regulations.
Examinations: Cooperation with the South Dakota Division of Banking in any audits, and timely submission of requested periodic reporting.
Bank Franchise Tax: As a financial institution licensed by the South Dakota Division of Banking, Longline Lending LLC must annually file and pay the South Dakota bank franchise tax as required under SDCL 10-43. The bank franchise tax is an annual obligation for financial institutions administered by the South Dakota Department of Revenue and reported to the South Dakota Division of Banking. This tax supports robust regulatory oversight, ensuring our fiscal transparency and reinforcing our commitment to compliance.

Verify our license at dlr.sd.gov or NMLS Consumer Access.

Unwavering Commitment to Regulatory Excellence

Loan Origination

1-Day

1 K+