California AB2116 amends the Financial Code to regulate commercial financing for small businesses, including licensing requirements and disclosures.

California AB2116 amends the Financial Code to establish regulations for commercial financing providers and brokers. It mandates that any person advertising rates of interest, charges, or costs of loans must clearly state these details. The bill defines "commercial financing" and "commercial financing provider" and sets licensing requirements for these entities. It also outlines penalties for unfair, deceptive, or abusive practices in commercial financing transactions.

California AB2116 amends the Financial Code to regulate commercial financing for small businesses, including licensing requirements and disclosures.

California AB2116 amends the Financial Code to establish regulations for commercial financing providers and brokers. It mandates that any person advertising rates of interest, charges, or costs of loans must clearly state these details. The bill defines "commercial financing" and "commercial financing provider" and sets licensing requirements for these entities. It also outlines penalties for unfair, deceptive, or abusive practices in commercial financing transactions.