This summary page provides an educational overview of state commercial disclosure frameworks. The binding legal disclosure for your specific transaction is delivered separately in writing alongside your official funding offer prior to contract execution.
Active State Disclosure Regimes
Select a state to view specific commercial financing disclosure statutes and our operational compliance posture:
California
CompliantSB 1235 / Cal. Fin. Code § 22800 et seq. (Effective Dec 9, 2022)
California mandates comprehensive, standardized written disclosures prior to transaction consummation for merchant cash advances, lines of credit, and revenue-based financing. Disclosures detail total funding provided, total dollar cost of capital, estimated APR equivalents, factor rates, payment schedules, and explicit prepayment policies.
New York
CompliantNew York Commercial Finance Disclosure Law (CFDL) — 23 NYCRR Part 600 (Effective Aug 1, 2023)
New York CFDL applies to commercial financing under $2.5 million extended to entities managed or operating within New York state. Required metrics include net disbursement amount, total finance charges, estimated APR, payment frequency, and sales-based reconciliation terms.
Utah
CompliantUtah Commercial Financing Registration and Disclosure Act — Utah Code § 7-27 (Effective Jan 1, 2023)
Utah requires commercial capital providers to register with the Utah Department of Financial Institutions and present detailed disclosures covering total amount financed, finance charges, payment frequency, and reconciliation terms.
Virginia
CompliantCode of Virginia § 6.2-2228 et seq. (Effective July 1, 2022)
Virginia commercial financing disclosure standards apply to sales-based funding and revenue advances up to $500,000 for Virginia-based entities. Requirements include transparent APR estimation, total cost of capital breakdown, and clear payment terms.
Georgia
CompliantGeorgia Commercial Financing Disclosure Act — O.C.G.A. § 7-2 (Effective Jan 1, 2024)
Georgia regulation enforces full disclosure of commercial capital costs and mandates separate itemization of broker or intermediary compensation on all sales-based and term funding offers.
Florida
CompliantFlorida Commercial Financing Disclosure Law (Effective July 1, 2023)
Florida law governs commercial capital providers, requiring standardized disclosures on factor rates, payment schedules, total payback amounts, and prepayment rights for commercial revenue purchases.
Connecticut
CompliantConnecticut Commercial Financing Disclosure Law (Effective July 1, 2024)
Connecticut requires commercial financing providers to furnish transparent disclosure statements detailing net proceeds, total capital charges, and payment requirements before closing.
Kansas
CompliantKansas Consumer Credit Code Commercial Amendments (Effective Jan 1, 2024)
Kansas extends disclosure safeguards to commercial financing transactions under $250,000, requiring clear presentation of total payback obligations and schedule terms.
Missouri
CompliantMissouri Commercial Financing Disclosure Act (Effective Jan 1, 2025)
Missouri law mandates standardized commercial financing disclosures on all small business capital offers, ensuring transparent representation of payback rates and term lengths.
APR & Cost-of-Capital Calculation Standard
Where state regulations mandate Annual Percentage Rate (APR) representations for commercial advances or revenue purchases, TMK Financial utilizes the standardized actuarial methodology consistent with Truth in Lending Act standards (Regulation Z, 12 CFR Part 1026, Appendix J).
For revenue-contingent financing products (such as revenue-based advances or merchant cash purchases) where repayment is non-fixed, estimated APR calculations are derived using historical average sales velocities to estimate expected payoff durations accurately.
Reconciliation Rights for Sales-Based Funding
In accordance with commercial financing disclosure standards, all sales-based funding structures provided through TMK Financial incorporate explicit reconciliation rights. Because daily or weekly withholding is calculated as a fixed percentage of sales, merchant clients whose revenue drops below projected levels may request a formal adjustment (reconciliation) of remittance amounts.
This guarantees that daily payments fluctuate proportionally with real business cash flow, preventing artificial cash pinches during slow seasonality.
Inquiries & Sample Disclosure Requests
If you have specific questions regarding state disclosures, or if you would like to request a sample disclosure form prior to submitting an official application, contact our compliance team directly: