On this page
| Disclosure law | Yes |
|---|---|
| Broker registration | Yes |
| State calling statute | Federal only |
Small market, disproportionate significance. Virginia wrote brokers into its registration requirement before anyone else did, and the states that have legislated since have largely copied that decision rather than California’s.
The disclosure requirement
| Statute | Sales-Based Financing Providers, Va. Code §§ 6.2-2228 to 6.2-2238 |
|---|---|
| In force | Statute effective July 2022, with registration required from 1 November 2022 and disclosures applying to transactions entered after 1 July 2022. |
| Reaches | Transactions above $500,000 are exempt |
| Must contain | Total funds provided, total funds disbursed, total repayment, total dollar cost, estimated number of payments and the payment amount, plus a description of any fees. |
| Annualised rate | No annualised rate mandate. The disclosure is a dollar-cost and schedule disclosure. |
Registration and licensing
Both sales-based financing providers and sales-based financing brokers must register with the State Corporation Commission. This is the provision the later statutes were modelled on.
Calling into Virginia
Federal TCPA plus Virginia’s telephone privacy provisions. No FTSA-style statutory damages regime for B2B autodialling.
What changes for a broker
- Broker registration here is not incidental — it is the point of the statute, and it predates every other broker registration requirement in the country.
- The definition is scoped to sales-based financing, so a broker placing term loans and a broker placing advances are not in the same position.
- If you are registered in Virginia you have already done most of the work Texas, Missouri and Connecticut will ask for. The regimes rhyme.
What Virginia files look like
Weighted toward government contracting, professional services and defence-adjacent businesses around Northern Virginia, with hospitality and construction across the rest of the state. Government contractors produce a distinctive file: strong revenue, terrible receivables timing, and heavy customer concentration.
Questions
Does Virginia regulate merchant cash advances?
Yes. Sales-Based Financing Providers, Va. Code §§ 6.2-2228 to 6.2-2238 applies to transactions above $500,000 are exempt. Total funds provided, total funds disbursed, total repayment, total dollar cost, estimated number of payments and the payment amount, plus a description of any fees.
Do I need to register to broker MCAs in Virginia?
Both sales-based financing providers and sales-based financing brokers must register with the State Corporation Commission. This is the provision the later statutes were modelled on.
Can I cold call businesses in Virginia?
Federal TCPA plus Virginia’s telephone privacy provisions. No FTSA-style statutory damages regime for B2B autodialling.
Whichever state you are dialling, what protects you is the consent record rather than an assurance from a vendor. That is covered in the compliance guide.
Do you sell MCA leads in Virginia?
Yes. Every lead clears the same six minimums wherever the merchant is — $30K+ monthly revenue, $15K+ requested, six months trading, four months of statements available, U.S.-based, and mobile-verified by a 6-digit code. $60 per lead, in packs starting at 50. We can filter your leads by state, which is a real risk control in Virginia if you are concerned about the calling rules.