Commercial financing disclosures.
What every offer we present states in writing, which US states now require a standard cost disclosure on merchant cash advances and similar financing, and the rules a broker like Swyft Advance follows. Plain language, current as of November 2, 2026. Not legal advice.
Who does what
- Swyft Advance
- A broker. Swyft LLC prepares your file, presents it to funding partners and helps you compare offers. We do not fund.
- Funding partner
- The provider. Makes the approval decision, sets every term, signs the agreement with you, and issues any state-required disclosure.
- You
- Receive every offer in writing, in dollars, before you sign. Nothing is collected from you before funding.
What every offer states, wherever you are.
State disclosure laws set a floor in the states that have them. Our own floor is the same everywhere we arrange financing, in the US and in Canada: before you sign, the written offer shows the figures below in dollars, and your advisor walks through each line. Nothing is left to work out from a rate.
A merchant cash advance and a Reverse Consolidation are purchases of a portion of your future receivables, not loans, so their cost is stated as a fixed total to remit rather than an interest rate. Lines of credit and equipment financing are provided by third-party lenders and are stated the way loans and leases are.
- No fee to apply, to check your options or to receive offers
- No hard credit inquiry to see your options*
- Every fee on a funded deal written into the offer, in dollars
- The funding partner named on the agreement you sign
- Cash advance or Reverse Consolidation
- Advance amount · total to remit · daily or weekly remittance · estimated term · any fees · how reconciliation works if sales fall
- Line of credit
- Credit limit · rate or fee · repayment term per draw · any draw or maintenance fees
- Equipment financing
- Amount financed · monthly payment · term · any end-of-term buyout · who holds title
How to compare: same amount and same term, the lower total wins. Same total, pick the schedule your weekly deposits can carry.
Eleven states require a standard cost disclosure. A twelfth starts in 2027.
These laws require the provider of certain commercial financing, including sales-based financing such as a merchant cash advance, to give the business a standard written disclosure before the deal is signed. They differ on the largest deal they cover, which products count, and whether brokers must register. The table reflects the statutes as of November 2, 2026; check the current text or a lawyer in your state before relying on it.
| State | Law | In effect | Deals covered | Covers MCA? | Broker registration |
|---|---|---|---|---|---|
| Virginia | Va. Code §§ 6.2-2228 to 6.2-2238 | 2022 | Up to $500,000 | Yes, sales-based financing only | Yes, with the State Corporation Commission |
| California | Fin. Code §§ 22800–22807; 10 CCR §§ 900–956 | Dec 2022 | $500,000 or less | Yes | No; broker must pass the provider's disclosure on unaltered |
| Utah | Utah Code §§ 7-27-101 to 7-27-301 | Jan 2023 | Up to $1,000,000 | Yes, as accounts receivable purchases | No; providers register |
| New York | Fin. Serv. Law Art. 8; 23 NYCRR 600 | Aug 2023 | Up to $2,500,000 | Yes | No; broker must pass the provider's disclosure on unaltered. Estimated APR must be shown. |
| Florida | Fla. Stat. §§ 559.961–559.9615 | Jan 2024 | Up to $500,000 | Yes, as accounts receivable purchases | No; no advance fees; broker ads must show address and phone |
| Georgia | O.C.G.A. § 10-1-393.18 | Jan 2024 | Up to $500,000 | Yes, as accounts receivable purchases | No; no advance fees |
| Connecticut | Conn. Gen. Stat. §§ 36a-861 to 36a-872 | Jul 2024 | $250,000 or less | Yes, sales-based financing only | Yes, with the Banking Commissioner |
| Kansas | K.S.A. §§ 75-783 to 75-787 | Jul 2024 | Up to $500,000 | Yes, as accounts receivable purchases | No; no advance fees |
| Missouri | RSMo § 427.300 | Feb 2025 | Up to $500,000 | Yes, as accounts receivable purchases | Yes, with the Division of Finance, with surety bond |
| Louisiana | La. R.S. § 9:3137.10 | Aug 2025 | No dollar cap stated | Yes, revenue-based financing | No |
| Texas | Fin. Code ch. 398; 7 TAC ch. 86 | Sep 2025 | Under $1,000,000 | Yes, sales-based financing only | Yes, with the Office of Consumer Credit Commissioner; existing businesses by Dec 31, 2026 |
| Vermont | 8 V.S.A. § 2247 (Act 142) | Jul 1, 2027 | Under $1,000,000 | Yes, sales-based financing and factoring | Loan solicitation license, including online marketing and referrals |
Two related developments are not disclosure laws but affect how financing is offered. North Dakota amended its Money Brokers Act effective August 1, 2025 so that alternative financing, including merchant cash advances, is regulated as a loan requiring a state license. In 2026 the Consumer Financial Protection Bureau withdrew its earlier position that merchant cash advances are "credit" under the Equal Credit Opportunity Act, which leaves that question unsettled at the federal level. Bills were pending but not enacted in New Jersey, Maryland, Illinois, Pennsylvania and South Carolina as of the date above.
What a broker may and may not do.
Most of these laws place the disclosure duty on the provider, but several also set rules for brokers. Where a state has a rule, we follow it. Where it does not, we follow the strictest version anyway, because it is the right way to arrange financing.
- No advance fees. Florida, Georgia, Kansas and Missouri prohibit a broker from collecting a fee before funding. We collect nothing from you before funding in any state or province.
- Disclosures passed on unaltered. California and New York require the broker to deliver the provider's disclosure exactly as issued, before presenting an offer. We do this everywhere a disclosure is issued.
- No misleading statements. Florida, Georgia, Kansas and Texas prohibit false or misleading statements in advertising and solicitations. Our advertising describes what funding partners typically offer, never a guaranteed amount, cost or approval.
- Address and phone in advertising. Florida requires it of broker ads. Ours appears in the footer of every page: 20803 Biscayne Blvd STE 300, Aventura, FL 33180, 800-578-2280.
- Registration. Virginia, Connecticut, Missouri and Texas require commercial financing brokers to register with the state, and Vermont will require a license from July 2027. Ask your advisor about the status of our registration in your state before you sign; we will tell you plainly.
If you receive a state disclosure
What to check against the written offer.
- The amount funded, and the amount you actually receive after any fees
- The total you will repay or remit
- The finance charge, stated in dollars
- An estimated APR, where the state requires one, such as New York and California
- The estimated term and the payment or remittance schedule
- Prepayment terms: what it costs, or saves, to finish early
The figures on the disclosure and the figures in the offer should match. If they do not, do not sign until the provider explains the difference in writing.
Canadian businesses get the same written offer.
The state laws above apply to businesses managed from those US states. For a Canadian business, the offer you receive states the same figures in dollars, in CAD, before you sign: amount, total to remit, remittance and term for an advance; limit, rate or fee and draw terms for a line; payment, term and buyout for equipment. Your advisor walks through each line the same way.
Provincial rules on commercial financing vary and change. If you want advice on how an offer is treated in your province, talk to a lawyer licensed there.
Questions about an offer
Call or email before you sign. There is no cost to ask.
- Phone: 800-578-2280
- Email: info@goswyft.com
- Mail: Swyft LLC, 20803 Biscayne Blvd STE 300, Aventura, FL 33180
See also our Terms of Use, Privacy Policy and California Privacy Notice.
Disclosure questions
Is Swyft Advance the funder?
No. Swyft Advance (Swyft LLC) is a broker. We prepare your file, present it to funding partners, and help you compare the offers that come back. The funding partner makes the approval decision, sets every term, and is the provider named on your agreement and on any state-required disclosure.
What will my offer state in writing?
For a merchant cash advance or Reverse Consolidation: the advance amount, the total you will remit, the daily or weekly remittance amount, the estimated term, any fees, and how reconciliation works if sales fall. For a line of credit: the limit, the rate or fee, the repayment term per draw and any draw or maintenance fees. For equipment financing: the amount financed, the payment, the term and any end-of-term buyout. All in dollars, before you sign.
My state requires a disclosure. Who gives it to me?
The funding partner prepares it, because the law places the duty on the provider of the financing. Where state rules address brokers, they generally require the broker to pass the provider's disclosure to you unaltered before presenting an offer. If you are in a covered state and a covered offer arrives without the disclosure, ask for it in writing before you sign.
Does Swyft Advance charge me a fee?
Swyft Advance does not charge you a fee to apply, to check your options, or to receive offers. Any fee on a funded deal is stated in dollars in the written offer before you sign. Several states prohibit a broker from collecting any fee before the financing is funded, and we do not do so in any state.
Is this page legal advice?
No. It is a plain-language summary of public statutes, current as of the date shown, written to help you know what to expect. Laws change and how one applies depends on your facts. For advice about your business, talk to a lawyer licensed in your state or province.
Every offer in writing, in dollars, before you sign.
Ten-minute application, no hard credit pull to check, a real advisor on every file.