Commercial Financing Disclosure
Laws (By State)

A clear, up-to-date guide commercial financing disclosure requirements across U.S. states. Understand what’s required, when it applies, and how it affects your operations. 

How to use this resource 

This directory summarizes state-level laws governing commercial or sales-based financing.
Each state entry includes effective dates, covered transactions, disclosure requirements, and official references. Information is verified against official state sources and updated regularly. 

Select a state to view its Disclosure Requirements 

Click any state on the map below to view its latest commercial financing disclosure requirements. Use the map to explore states where laws are in effect, pending, or proposed. 

Laws Passed 

Some states have enacted commercial financing disclosure laws. These states currently set the standard for compliance in the evolving regulatory landscape.

Laws Proposed 

Several states are currently considering or drafting legislation to introduce commercial financing disclosure requirements. These proposals vary in scope and terminology but share a common goal: improving transparency and consistency in alternative lending. This section tracks bills that are pending, in committee review, or awaiting signature. 

Florida

Where We Are Now

The Florida Commercial Financing Disclosure Law (FCFDL) was enacted on July 1, 2023, and will apply to transactions on or after January 1, 2024. More specifically, the law applies to commercial closed- and open-end loans and accounts receivable purchase transactions in amounts of $500,000 or less.

How We Got here

The FCFDL was first introduced by Rep. Doug Bankson and the Commerce Committee. From March-May 2023, the bill was introduced and successfully passed in both the House and Senate. On June 26, 2023, Governor Ron DeSantis signed House Bill No. 1353 into law. This bill establishes part XIII of Chapter 559 within the Florida Statutes and acts as the framework for commercial loan disclosures.

What Funders Need to Know

Subject
The Florida law applies to providers who conduct more than five qualifying transactions per calendar year.

While commercial financing brokers are not specifically subject to the law’s disclosure requirements, they are subject to other regulations discussed below.   

Exemptions
Common exceptions apply to depository institutions and their affiliated entities, leases and transactions secured by real property, the majority of floorplan financing arrangements, and money transmitters licensed in any state, among other categories.

Compliance Requirement
Unlike some other disclosure laws, Florida does not require providers to register with the state.

Disclosure Requirements
Providers must disclose the essential terms of financing, including total funds provided, dollar cost of financing, payment schedule, prepayment penalties, and others.

Providers are required to make only one disclosure at or before the completion of each commercial financing transaction. However, they are not obligated to revise or amend these disclosures in response to changes occurring after the transaction has been consummated.   

Other Rules
The FCFDL includes a specific code of conduct aimed directly at brokers. Brokers must disclose their address and telephone number when advertising their services, and not use false or deceptive representations when offering or selling services or conducting business.

In addition, brokers are not allowed to assess, collect, or solicit an advance fee from a business in exchange for providing brokerage services.  

Penalties
Offenses may result in fines of $500 per incident, subject to a maximum of $20,000 for combined violations. Continued violations may lead to additional penalties up to $50,000.