Commercial Financing Disclosure Act mandates written disclosures for commercial financing transactions in South Carolina.
The Commercial Financing Disclosure Act requires providers to offer written disclosures for commercial financing transactions. These disclosures must include details such as the total amount of funds provided, fees, total payment amount, and total dollar cost. The act applies to transactions after December 31, 2025, and exempts certain providers and transactions. It prohibits brokers from collecting advance fees and mandates enforcement by the Attorney General.
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