New York’s “Small Business” Commercial Financing Disclosure Law

In the June 2023 edition of the Banking Law Journal, Financial Services attorneys Leonard Bernstein, Bob Jaworski and Richard Smith break down new regulation issued by the New York State Department of Financial Services to implement the New York Commercial Financing Disclosure Law. The authors discuss why providers, financers and brokers need to carefully review the act and regulation to be in a position to assess their full impact. They also explain that New York is not alone in its effort to provide a measure of protection to individuals and small businesses seeking commercial financing, but other states also already have put regulations into motion.

The authors previously authored a Holland & Knight client alert on this topic.

READ: New York’s “Small Business” Commercial Financing Disclosure Law