As soon as you begin applying for licenses, it’s essential to prepare for the next phase—license maintenance and reporting. Once your licenses are approved, you’ll need to implement regular reporting processes and manage any ad-hoc requests from regulators to ensure compliance.

Requirements vary by state and the type of license, but most include:

• Financial statements
• Business plan
• Funds flow information
• Organizational and management chart

Additionally, almost all licenses require detailed information about the individuals in control of the license applicant.

There are three key costs involved in obtaining MTLs:

• State Licensing Fees
• Surety Bond Fees
• State Registration Fees

These costs typically range between $280K to $380K, depending on your business model. The fourth cost—License Preparation Fees—varies depending on your service provider. For specific pricing details on Brico’s license prep services, please contact us at sales@brico.ai.

Yes, Brico provides comprehensive support for both license applications and ongoing license maintenance. We help you from the initial submission to ensuring you stay compliant after your licenses are approved. If you want to know more about how Brico can support you please contact sales@brico.ai