A commercial financing broker gathers your application and documents, shops them to funders and presents the offers. The funder makes the credit decision and sets the price. Brokers are usually paid a commission by the funder, and on some deals that commission is built into the rate you are offered.
Some states regulate brokers directly. Virginia requires sales-based financing brokers to register with its State Corporation Commission. New York's disclosure law treats a person who presents specific offers on behalf of a third party as a provider, unless an exemption applies.
Openbook Capital is a broker. Funders pay it a commission when a deal funds, there is no fee to apply, and it tells you how it is paid on your deal.
Sources
- Code of Virginia § 6.2-2230 (registration of providers and brokers) — Virginia General Assembly (checked 2026-09-30)
- Code of Virginia § 6.2-2228 (definitions, sales-based financing) — Virginia General Assembly (checked 2026-09-30)
- N.Y. Financial Services Law § 801. Definitions — New York State Senate (checked 2026-09-30)