MCA leads in Utah.
Utah requires commercial financing providers to register annually with the Department of Financial Institutions and to disclose total cost and payment terms, but not an annualised rate.
- Disclosure law
- Yes
- Registration
- Yes
- State calling act
- Federal only
The rules.
- Disclosure law
- Commercial Financing Registration and Disclosure Act
- In force
- 1 January 2023
- Threshold
- Transactions above $1 million are exempt
- Must contain
- Total funds provided, total funds disbursed, total amount to be paid, the total dollar cost, payment amounts and frequency, and any prepayment charge.
- Annualised rate
- Explicitly not required. Utah chose a dollar-cost disclosure over an annualised one.
- Registration
- Annual registration with the Utah Department of Financial Institutions for providers doing business with Utah merchants. Utah got there first, in January 2023.
- Calling
- Federal TCPA. No mini-TCPA with a private right of action for autodialled business calls.
sources disagree on some effective dates, so confirm against the statute
What changes for a broker.
- Utah is the cheapest of the ten regimes to comply with, which is genuinely why some funders started here.
- The absence of an APR requirement is a deliberate policy position, not an oversight — Utah legislated against annualising a product with no fixed term.
- Registration is annual, not one-off. It lapses.
Questions.
Yes. Commercial Financing Registration and Disclosure Act. Threshold: Transactions above $1 million are exempt. In force: 1 January 2023. Must contain: Total funds provided, total funds disbursed, total amount to be paid, the total dollar cost, payment amounts and frequency, and any prepayment charge.
Annual registration with the Utah Department of Financial Institutions for providers doing business with Utah merchants. Utah got there first, in January 2023.
Federal TCPA. No mini-TCPA with a private right of action for autodialled business calls.
Yes. Every exclusive lead clears the same 8 minimums wherever the merchant is, and exclusive leads can be filtered by state.
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