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On June 26, 2023, Florida Governor Ron DeSantis took a significant step towards ensuring transparency and consumer protection in the commercial financing industry by signing the Florida Commercial Financing Disclosure Law (FCFDL) into effect. This landmark legislation introduces comprehensive disclosure requirements for covered commercial financing transactions. It outlines specific prohibitions for brokers, including collecting advance […]

In a significant move towards transparency and consumer protection, Georgia has become the fifth U.S. state to enforce small business financing disclosure requirements. These disclosure regulations began in 2018 when California pioneered such legislation. Governor Brian Kemp signed Georgia Senate Bill 90 on May 1, 2023, which is set to take effect on January 1, […]

Connecticut has joined the ranks of states championing transparency and consumer protection in commercial financing. On June 28, Governor Ned Lamont signed Senate Bill 1032, titled “An Act Requiring Certain Financing Disclosures.” This legislation mandates providers of sales-based commercial financing to make comprehensive disclosures to borrowers. Connecticut now stands alongside states like Utah, California, Georgia, […]

Richard Polgar has been accepted into Forbes Finance Council. Forbes Finance Council is an invitation-only community for executives in accounting, financial planning, wealth and asset management, and investment firms. New York (10/26/23) — Richard Polgar, CFG Merchant Solutions & CapFlow Funding Group, Chief Financial Officer has been accepted into Forbes Finance Council, an invitation-only community […]