- 1Virginia lists 229 registered sales-based financing providers.
- 2That is only 27 more than a year ago.
- 3Funders and brokers dealing with Virginia merchants must register, with some exceptions.
Almost four years after Virginia's sales-based financing provider law went into effect, the state now lists 229 registered parties. That is an increase of only 27 companies since last year.
Who must register
Both funders and brokers must register if they intend to transact with Virginia-based merchants, subject to some exceptions. The law took effect in 2022.
Who is on the list
Registrants include recognizable names such as eBay Commerce, First Data Merchant Services, PayPal and Wal-Mart.com USA, alongside dozens of smaller, known MCA broker shops.
What to do
MCA brokers and funders not yet registered to do deals with Virginia-based merchants should speak with a knowledgeable industry attorney and get set up promptly.
Source reporting: deBanked.
