US state disclosure checker
The useful question is not how many states regulate this. It is whether the rule in your state produces a number you can hold against a bank quote, or only a pile of dollar amounts you have to convert yourself.
Two states require the cost to be expressed as a rate. Four require itemized dollar amounts and no rate at all. This page is the US half of the question; the UK half is the perimeter checker. That difference decides whether you can compare an offer directly or whether the conversion is your job — which is what the cost tool is for.
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Nothing you type here is sent anywhere, stored, or seen by us. The answer is assembled in your browser from the statutes named beside it.
This tells you what the law says, not what your agreement says
Whether a particular facility falls inside a definition depends on how the agreement is written, and that is a question for your own adviser. What this page can do is put the statute in front of you with the date we read it, so you can check the provider's answer against it rather than taking it on trust.
The six states, side by side
| State | Statute | Products it names | Size limit | Cost as a rate? |
|---|---|---|---|---|
| California | California Financial Code, Division 9.5, sections 22800 to 22804 | Loan or line, Factoring, Asset-based (Receipts advance, Lease: depends) | Up to $500,000 | Yes — an annualized rate |
| New York | New York Financial Services Law article 8 and 23 NYCRR Part 600 | Loan or line, Factoring, Asset-based, Receipts advance (Lease: depends) | Up to $2,500,000 | Yes — an APR |
| Florida | Florida Statutes sections 559.9611 to 559.9613 | Loan or line, Factoring (Asset-based, Receipts advance: depends) | Up to $500,000 | No |
| Louisiana | Louisiana R.S. 9:3137.10 (Acts 2025, No. 198) | Receipts advance | None stated in the sections read | No |
| Utah | Utah Code Title 7, Chapter 27 (Commercial Financing Registration and Disclosure Act) | Loan or line, Factoring, Asset-based, Receipts advance | Up to $1,000,000 | No |
| Virginia | Virginia Code sections 6.2-2228 to 6.2-2231 | Receipts advance | Up to $500,000 | No |
Scroll the table sideways on a narrow screen. Every row was read in the original on 6 September 2026.
What it means when your state is not here
It means we have not read a statute for it, and nothing more. This site lists a state only after someone has opened its law and read the disclosure section, so the list is shorter than the lists you will find in law-firm surveys — those count states with a rule of any kind, including registration regimes that require no disclosure to you at all. Absence here is not evidence that your state has no rule.
If you know of a state statute that belongs here, tell us and point at the section. It gets read before it gets published.
Why the rate question is the one that matters
A disclosure that gives you funds provided, total to be paid and a payment schedule has given you the parts of an annualized cost without doing the arithmetic. That is not a small gap: on a fixed-cost advance the same dollar cost can work out anywhere between a modest annual rate and a very large one, depending only on how fast the money comes back — which is the arithmetic in the factor rate guide.
So in California and New York you can put the provider's own number beside a bank's. In Florida, Louisiana, Utah and Virginia you are given the ingredients and the conversion is yours. The cost tool does that conversion, and the methodology says exactly what its figure is and is not.
This page is part of business finance in the United States, where the rest of the US material on this site is collected.
Sources
- California Financial Code, Division 9.5 — sections 22800 to 22807, read in full. Section 22800 carries the definitions that decide scope: subdivision (n) limits a recipient to a person presented an offer of $500,000 or less, and subdivision (j)(1) reaches a lease only where a purchase option creates a security interest. Section 22801 lists the exemptions; section 22802 the six disclosures, including the total cost expressed as an annualized rate, as amended by SB 33. https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=FIN&division=9.5. (checked 7 September 2026)
- California DFPI, January 2026 monthly bulletin — SB 362, effective 1 January 2026. https://dfpi.ca.gov/news/monthly-bulletins/monthly-bulletin-january-2026/ (checked 6 September 2026)
- New York Department of Financial Services, 23 NYCRR Part 600 — the annual percentage rate must be disclosed, in a format that depends on the financing type. https://www.dfs.ny.gov/industry_guidance/regulations/final_financial_services/rf_finservices_23nycrr600_text (checked 6 September 2026)
- New York Financial Services Law sections 801 and 802 — the definition of a financial institution, and the eight exemptions, including the $2,500,000 ceiling and the lease exemption. https://www.nysenate.gov/legislation/laws/FIS/802 (checked 7 September 2026)
- Florida Statutes sections 559.9611, 559.9612 and 559.9613 — scope, exemptions and the six itemized disclosures. https://www.flsenate.gov/Laws/Statutes/2024/559.9613 (checked 6 September 2026)
- Louisiana R.S. 9:3137.10 — revenue-based financing disclosures. Read in full: the section sets no dollar threshold and exempts nobody. https://www.legis.la.gov/legis/LawPrint.aspx?d=1429292 (checked 7 September 2026)
- Louisiana R.S. 9:3137.1 to 9:3137.9 — the Louisiana Exchange Sale of Receivables Act, the sections that sit alongside 3137.10 in Chapter 4-B. Read in full: the scope section, 9:3137.4, applies that Part to receivables sold over an exchange located in Louisiana, and nothing in it narrows the disclosure section. https://www.legis.la.gov/Legis/Law.aspx?d=725475 (checked 8 September 2026)
- Utah Code sections 7-27-102 and 7-27-202 — application and the six disclosures. https://le.utah.gov/xcode/Title7/Chapter27/7-27-S202.html (checked 6 September 2026)
- Virginia Code sections 6.2-2228, 6.2-2229 and 6.2-2231 — sales-based financing, exemptions and the disclosures. https://law.lis.virginia.gov/vacode/title6.2/chapter22.1/section6.2-2231/ (checked 6 September 2026)
What changed on this page
8 September 2026 Correction — The state checker used to say New York's disclosure regime reaches equipment lease financing. Financial Services Law section 802(e) puts "a lease as defined in section 2-A-103 of the uniform commercial code" outside the article, while 23 NYCRR Part 600 still carries a disclosure format for lease financing. The honest answer is that it depends on whether your agreement is a true lease or a security interest written as one, and that is what the checker now says.
8 September 2026 Correction — The state checker used to say California sets no ceiling on the size of a covered transaction, and said so while admitting it had not re-read the definitions. It does set one, and it is $500,000: section 22800(n) defines a recipient as a person presented an offer of $500,000 or less, so an offer above that has no recipient and the division does not reach it. The figure is in the definitions rather than in the exemptions at section 22801, which is why the earlier reading missed it.
8 September 2026 Correction — The same checker used to say California's regime reaches equipment lease financing outright. Section 22800(j)(1) reaches a lease only where it includes a purchase option that creates a security interest in the goods leased, so a true lease is outside it. The answer is now the same shape as New York's: it depends on the document.
8 September 2026 New — Two states are no longer partly unread. New York: section 802 lists eight exemptions, so a bank, trust company, savings institution or credit union is outside the regime, as are real-property-secured transactions, providers doing five or fewer transactions in a year, and single transactions over $2,500,000. Louisiana: R.S. 9:3137.10 was read end to end and exempts nobody and sets no threshold, which makes it the only one of the six states here where a depository institution owes the disclosure.
8 September 2026 New — The Louisiana answer carried one hedge: R.S. 9:3137.10 had been read, but the sections numbered just before it had not, and they are a different Act. They have now been read. R.S. 9:3137.1 to 9:3137.9 are the Louisiana Exchange Sale of Receivables Act of 2010, and the scope section at 9:3137.4 applies that Part to receivables sold over an exchange located in the state. Nothing there sets a threshold for the disclosure section or takes anybody out of it, so the answer is unchanged and is now sourced rather than hedged.
6 September 2026 New — A state disclosure checker was added. Six state statutes were read in the original - California, New York, Florida, Louisiana, Utah and Virginia - and the checker answers, for a state, a product and a size, whether the regime reaches the deal and whether what it makes the provider hand you includes a rate. Size limits are now recorded where the statute states one: over $500,000 is outside Florida and Virginia, over $1,000,000 is outside Utah, and New York covers up to $2,500,000.