Verify before you rely on this: Laws and rules change; this tool is a directional map reviewed September 2026, not a legal determination.
Not legal advice. This tool summarizes, at a high level, the kinds of commercial-financing regimes states have enacted, as generally reported. It does not determine whether any law applies to you or your transactions — applicability turns on facts (who you are, what you broker, deal size, exemptions). Consult a lawyer and the state regulator before soliciting deals.
The pattern across states
States have taken three broad approaches: disclosure laws (providers must give merchants standardized cost disclosures — California and New York started this wave), registration regimes (providers and/or brokers must register with the state — Virginia, Utah, and others), and combined regimes that do both (Connecticut, Georgia, Florida for certain transactions). Several states regulate brokers directly; more regulate the funder but reach broker conduct through it. The full state-by-state write-up lives at state commercial financing laws.
| Regime type | What it typically means for a broker |
|---|---|
| Disclosure law | The funder issues required cost disclosures; brokers must not undercut or contradict them, and some states restrict broker fee practices. |
| Registration | The provider and/or broker must register (and sometimes bond) with the state before soliciting or arranging financing there. |
| Combined | Both of the above — plus, in some states, specific broker conduct rules and penalties. |
| No specific regime (yet) | General contract, usury-exemption, and UDAP law still applies — and legislatures keep adding states every session. |
Compliance FAQs
The landscape changes year to year. States with disclosure laws or registration regimes include California, New York, Utah, Virginia, Georgia, Florida, Connecticut, Kansas, Missouri, and Texas, with more legislating regularly. Requirements differ sharply — always verify the current rule for your state before soliciting deals.
No single federal license exists. Regulation is state by state — which is why multi-state brokers must check each state where their merchants are located, not just where the brokerage sits.
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