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. 

Pennsylvania

On October 24, 2023, the Pennsylvania House of Representatives introduced an amendment to the 1974 Loan Interest and Protection Law (LIPL), known as the Commercial Finance Disclosure Law (CFDL) or House Bill 1792.

This short, two-section amendment mandates specific disclosures by lenders to small businesses (but notably lacks the requirement to disclose the entire loan amount) and applies to various commercial transactions. The proposed bill does not make exemptions for banks or specific types of transactions.

If the LIPL and CFDL merge, the interest cap on business loans under $50,000 may be lifted. Additionally, House Bill 1792 stands out as it would allow borrowers to sue lenders for failing to provide necessary disclosures.

The bill’s primary sponsor is Kristine C. Howard.