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Georgia · In effect

Georgia: Commercial financing disclosure law (SB 90)

Georgia requires a written cost disclosure before a provider closes a commercial financing deal of $500,000 or less, merchant cash advances included, and bars brokers from charging advance fees. It took effect January 1, 2024 and is enforced by the Attorney General. Georgia does not require an APR.
In effect
2024-01-01
Deal size covered
Transactions of $500,000 or less
Estimated APR
Not required
Registration
Not required

What it means for you

Before you sign an MCA with a covered provider, you should see 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 a fee up front. You will not see an APR unless the funder adds one.

Law
Commercial financing disclosure law (SB 90)
Citation
O.C.G.A. § 10-1-393.18
Enacted
2023-05-01
Effective
2024-01-01
Regulator
Georgia Attorney General, Consumer Protection Division
Who it covers
Providers that complete more than 5 commercial financing transactions in Georgia in a calendar 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 assess, collect or solicit an advance fee, make false or misleading representations, or act in a way that operates as fraud or deception.

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
  • Whether there are any costs or discounts for prepayment

What a Georgia MCA offer must show

Before closing, the provider must disclose the cost in dollars and the payment terms.
  • 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
  • Whether prepayment carries any cost or discount

The law applies to providers that complete more than 5 commercial financing transactions in Georgia in a calendar year.

Broker rules in Georgia

Georgia bars brokers from charging advance fees and from misleading you.

A broker may not assess, collect or solicit an advance fee from a business to provide broker services. It may not make false or misleading representations, or engage in any act that operates as fraud or deception.

Brokers do not register under this law. See how brokers get paid.

What the Georgia law does not do

It requires disclosure and bans broker advance fees; it does not require an APR, registration or a right to sue.
  • 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 whether the agreement can be enforced.
  • It does not cover deals over $500,000.

The Attorney General can take complaints and bring proceedings. Civil penalties are $500 per violation, up to $20,000 for violations from the same documents, and $1,000 per violation, up to $50,000, for later violations.

This page is general information, not legal advice.

Who is exempt

Deals and providers the law doesn't reach.
  • Federally insured depository institutions and their affiliates, holding companies and service corporations
  • Lenders regulated under the federal Farm Credit Act
  • Licensed money transmitters
  • Providers that complete 5 or fewer commercial financing transactions in Georgia a year
  • 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 makes, licenses or distributes
  • Factoring of health care provider receivables
  • Transactions over $500,000

Questions

Does Georgia's law cover merchant cash advances?

It covers accounts receivable purchase transactions, where a business sells its accounts or payment intangibles at a discount, which is how MCAs are usually structured. It also covers commercial loans and open-end credit, for deals of $500,000 or less.

Can a broker charge me an upfront fee in Georgia?

No. Georgia bars brokers from assessing, collecting or soliciting an advance fee from a business for broker services.

Does Georgia require an APR?

No. The required disclosures are dollar amounts and payment terms.

Who enforces the Georgia law?

The Attorney General. The law creates no private right of action.

Sources

  1. SB 90 (2023) as signed — Office of the Governor of Georgia (checked 2026-09-30)
  2. 2023 Signed Legislation — Office of the Governor of Georgia (checked 2026-09-30)
  3. SB 90 (2023-2024 session) — Georgia General Assembly (checked 2026-09-30)
  4. GA SB 90 (2023) bill status: signed May 1, 2023, Act 78 — LegiScan (checked 2026-09-30)
  5. Georgia Attorney General's Consumer Protection Division — Georgia 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.