Virginia Commercial Lending Compliance
Commercial Financing Disclosure Requirements
Quick Summary
Virginia's disclosure law took effect July 2023 for transactions under $500K. Uses standardized forms and uniform APR calculation methods.
At a Glance
Disclosure Law
Yes
Commercial Financing Disclosure Requirements
Effective Date
July 1, 2023
Loan Threshold
Under $500,000
Applies to loans below this amount
Maximum Penalty
$2,500 per violation
Per violation, no cap
Key Requirements
What You Must Disclose:
Standardized disclosure form required
APR using uniform calculation method
Total amount to be paid over term
Payment frequency and amounts
Description of collateral
Prepayment provisions
Must be provided before execution
Plain language requirement
Common Mistakes Brokers Make
Using non-Virginia specific forms
Incorrect APR calculations
Missing prepayment terms
How SalesLeadAgent Helps
- Email templates with Virginia-compliant language pre-loaded
- Automatic state detection from lead data
- Disclosure reminders at key stages of your sales funnel
- Track which disclosures were sent to which leads
Who Is Exempt?
The following entities and transactions are typically exempt from Commercial Financing Disclosure Requirements:
- Depository institutions
- Transactions over $500,000
- Certain equipment leases
Note: Even if you're exempt from state disclosure laws, federal regulations may still apply. Consult with legal counsel to understand all applicable requirements.
Penalties & Enforcement
Financial Penalties
First Violation
$2,500
Subsequent Violations
$2,500 per violation
There is typically no cap on total penalties. Multiple violations can result in hundreds of thousands of dollars in fines.
Enforcement
Enforced By
Virginia State Corporation Commission
Additional Consequences:
- •Private right of action (customers can sue)
- •Public disclosure of violations
- •Reputational damage with lenders and clients
- •Potential loss of licensing or operating privileges
Ready to Streamline Virginia Compliance?
SalesLeadAgent automatically handles compliance requirements for Virginia and all other states, so you can focus on closing deals instead of worrying about regulations.
Important Legal Disclaimer
This page provides general information about Virginia commercial lending regulations and is not legal advice. Laws change frequently and interpretation varies by circumstance. Users should consult with qualified legal counsel before relying on this information for compliance purposes.
SalesLeadAgent and its affiliates disclaim all liability for actions taken or not taken based on information provided here. While we strive to keep this information current, we make no warranties about the completeness, reliability, or accuracy of this information.
Last updated: January 12, 2026
Sources: Virginia state statutes, Virginia State Corporation Commission