A plain-English summary, not legal advice. Last reviewed 2026-09-26. Illinois, New Jersey and Louisiana aren't listed yet because we couldn't confirm enacted provisions from reliable sources.
| State | Deal size covered | Products | APR required | From |
|---|---|---|---|---|
| California | $500,000 or less | Loans, credit lines, factoring and more | Yes | 2022 |
| Connecticut | $250,000 or less | Sales-based financing only | No | 2024 |
| Florida | $500,000 or less | Loans, credit lines, factoring and more | No | 2024 |
| Georgia | $500,000 or less | Loans, credit lines, factoring and more | No | 2024 |
| Kansas | $500,000 or less | Loans, credit lines, factoring and more | No | 2024 |
| Missouri | $500,000 or less | Loans, credit lines, factoring and more | No | 2025 |
| New York | $2,500,000 or less | Loans, credit lines, factoring and more | Yes | 2023 |
| Texas | Specific offers of less than $1,000,000 | Sales-based financing only | No | 2025 |
| Utah | $1,000,000 or less | Loans, credit lines, factoring and more | No | 2023 |
| Virginia | $500,000 or less | Sales-based financing only | No | 2022 |
What the laws have in common
Each law requires written disclosures before a covered deal closes, typically including the amount you'll actually receive after fees, the total you'll repay, and the payment amount and frequency. They differ in the products and deal sizes they cover, whether providers must register, and above all whether an annual percentage rate is required. Only California and New York require an estimated APR.
How to use a disclosure
Whatever your state, the disclosed figures are enough to compute an estimated APR yourself. Enter the amount disbursed, the total repayment and the payment schedule in the merchant cash advance calculator or the loan comparison calculator. For the reasoning behind the numbers, see factor rate vs. APR.