What it means for you
At or before closing an MCA with a covered provider, you should get a written disclosure of the funds provided, the funds disbursed, the total you will pay, the total dollar cost, the payment terms and any prepayment cost or discount. A broker cannot charge you an advance fee. You will not see an APR unless the funder adds one.
- Law
- Florida Commercial Financing Disclosure Law
- Citation
- Fla. Stat. §§ 559.961–559.9615
- Enacted
- 2023-06-23
- Effective
- 2024-01-01
- Regulator
- Florida Office of the Attorney General
- Who it covers
- Providers that complete more than 5 commercial financing transactions a year, for commercial loans, commercial open-end credit and accounts receivable purchase transactions (a business selling its accounts or payment intangibles at a discount), which is how merchant cash advances are usually structured. Brokers must follow conduct rules.
- Registration
- None under this law.
- Brokers
- A broker may not charge, collect or solicit an advance fee, though a business may pay an independent party by check or money order for actual application costs such as a credit check or appraisal. A broker may not make false or misleading statements, omit material facts or advertise without its actual address and phone number.
What must be on the disclosure
- Total amount of funds provided
- Total amount of funds disbursed, if less than the funds provided
- Total amount to be paid to the provider
- Total dollar cost of the financing
- Manner, frequency and amount of payments, or how variable payments are calculated
- Whether there are any costs or discounts for prepayment
What a Florida MCA offer must show
- Total funds provided, and the funds disbursed if that is less
- Total amount to be paid to the provider
- Total dollar cost
- Manner, frequency and amount of payments, or how variable payments are calculated
- Whether prepayment carries any cost or discount
Providers of commercial financing facilities may base the disclosure on an example $10,000 transaction instead of your exact deal.
Broker rules in Florida
- No advance fee. A business may still pay an independent party, by check or money order, for actual application costs such as a credit check or an appraisal.
- No false or misleading representations, no omitting material facts and no acts that operate as fraud or deception.
- No false or deceptive representations in business dealings.
- No advertising without the broker's actual business address and telephone number.
See how brokers get paid.
What the Florida law does not do
- It does not require an estimated APR.
- It does not require providers or brokers to register.
- It creates no private right of action, and a violation does not affect the validity of the financing.
- It does not cover deals over $500,000.
The Attorney General has exclusive enforcement authority. Fines are $500 per incident, up to $20,000 in total, and $1,000 per incident, up to $50,000, after written notice of an earlier violation.
This page is general information, not legal advice.
Who is exempt
- Federally insured depository institutions and their affiliates, holding companies, subsidiaries and service corporations
- Lenders regulated under the Farm Credit Act
- Licensed money transmitters
- Providers that complete no more than 5 commercial financing transactions in Florida in 12 months
- Financing secured by real property, leases and purchase-money obligations
- Loans or credit lines of $50,000 or more to motor vehicle dealers or rental companies
- Financing offered with products or services the provider or its affiliate makes, licenses or distributes
- Transactions over $500,000
Questions
When did Florida's disclosure rules start?
They apply to commercial financing transactions closed on or after January 1, 2024. The law itself took effect July 1, 2023.
Can a Florida broker charge me an upfront fee?
No. A broker may not assess, collect or solicit an advance fee. The law does allow a business to pay an independent party by check or money order for actual application costs such as a credit check or an appraisal.
Can I sue a funder under the Florida law?
No. The law creates no private right of action, and the Attorney General has exclusive authority to enforce it.
Does Florida require an APR?
No. The required disclosures are dollar amounts and payment terms.
Sources
- Florida Statutes Chapter 559, Part XIII (2025) — The Florida Senate (checked 2026-09-30)
- Fla. Stat. § 559.9612: Scope of this part — The Florida Senate (checked 2026-09-30)
- Fla. Stat. § 559.9613: Disclosures — The Florida Senate (checked 2026-09-30)
- Fla. Stat. § 559.9614: Prohibited acts — The Florida Senate (checked 2026-09-30)
- Fla. Stat. § 559.9615: Enforcement — The Florida Senate (checked 2026-09-30)
- CS/HB 1353 (2023), Chapter 2023-290: bill history — The Florida Senate (checked 2026-09-30)
- CS/HB 1353 final bill analysis — Florida House of Representatives (checked 2026-09-30)
- Consumer Complaint Form — Florida Office of the Attorney General (checked 2026-09-30)
Last reviewed 2026-09-30. General information, not legal advice. Laws and regulations change; confirm with the regulator or an attorney.