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MD SB881

Bill

Official Source

Status

Engrossed

3/20/2026

Primary Sponsor

Benjamin Kramer

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Establishes licensing requirements for providers of commercial financing products to businesses in Maryland
  • Mandates specific disclosures to borrowers including the total cost of financing, annual percentage rate (APR), payment amounts, and repayment terms
  • Requires standardized APR calculations for commercial financing transactions to ensure transparency and comparability across lenders
  • Applies to financing products such as merchant cash advances, factoring arrangements, and other commercial loans typically used by small businesses
  • Grants regulatory oversight authority to enforce compliance and penalize violations of disclosure and licensing requirements

Legislative Description

Financial Institutions and Activities - Licensing Requirements and Regulation of Commercial Financing

Disclosure

Last Action

Hearing 3/31 at 1:00 p.m.

3/24/2026

Committee Referrals

Economic Matters3/21/2026
Finance2/6/2026

Full Bill Text

No bill text available