Virginia Commercial Financing Law

At a glance

• Status: Law enacted

• Signed: Apr 11, 2022

• Effective: Jul 1, 2022 (registration by Nov 1, 2022)

• Who it covers: Sales-based financing / MCA only

• Size cap: $500,000 or less

• Regulator: VA State Corporation Commission (SCC)

Type of rules: Registration · MCA / sales-based financing only · Broker rules

Key requirements

• First state law aimed squarely at sales-based financing (MCA/RBF) rather than all commercial financing.

• Providers must register with the SCC ($1,000 initial fee, $500 annual renewal) and deliver disclosures on a prescribed form at the time of offer.

• Disclosures cover financing total, disbursement, finance charge, total repayment, estimated term, payments, fees, and prepayment policies — no APR — plus whether and how much the provider will pay a broker.

• Sales-based financing contracts may not contain confessions of judgment, lawsuits must be brought in Virginia, in-person arbitration must occur where the merchant’s principal place of business is, and the provider pays the arbitration costs.

• De minimis exemption: no more than five sales-based financing transactions in any 12-month period.

What to watch

Included in the CFPB’s 2023 determination that state commercial disclosure laws are not preempted by TILA.

Virginia coverage from Funder Intel

• Apr 17, 2025  You provide sales-based financing in Virginia? Let's check

• Dec 7, 2022  Getting Registered As A Sales-Based Financing Company In Virginia

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Search the Commercial Registration Database (members) to check who is registered.

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States with pending bills: New Jersey · Illinois · Maryland · North Carolina · Pennsylvania

Last verified October 2026. Compiled and verified by Funder Intel for general industry information. This is not legal advice. Laws change often, so check the statute and a qualified attorney before making compliance decisions.