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. 

Maryland

Sponsored by Senator Ben Kramer, Senate Bill 496 aims to require lenders to provide consumer-style disclosures for various commercial loans to SMBs under $2.5 million. So far, the bill’s mandated disclosures include annual percentage rate (APR) calculations, repayment terms, and other related items.

Maryland’s Senate unanimously approved the bill on March 15, 2023, followed by a hearing by the House Economic Matters Committee on March 28, 2023.