NC H969

Establishes the Small Business Truth in Financing Act requiring commercial finance lenders to register with the North Carolina Commissioner of Banks and provide standardized disclosures to borrowers.

Creates disclosure requirements for four main financing types: sales-based financing, closed-end financing, open-end financing, and factoring transactions, including total amount, finance charge, annual percentage rate (APR), repayment terms, and payment schedules.

Exempts financial institutions, farm credit lenders, lenders making five or fewer transactions annually, and transactions secured by real property or exceeding $500,000.

Requires covered lenders to register through the Nationwide Multistate Licensing System (NMLS) with a nonrefundable $1,000 registration fee renewed every three years, plus background checks and credit reports for first-time registrants.

Authorizes the Commissioner to examine lenders, receive consumer complaints, assess civil penalties up to $2,000 per violation or $10,000 for willful violations, and revoke or suspend registration for violations.