Rapid Enterprise, a division of Rapid Finance, has introduced the SMB Disclosure Service, a standalone Software-as-a-Service (SaaS) Regtech module designed to assist business lenders in Georgia and Florida in complying with the states' new commercial financing disclosure requirements starting January 1, 2024. The service supports providers in adhering to transparency regulations for commercial financing transactions below a specified principal financing amount. Georgia's Senate Bill 90 and Florida's HB 1353 mandate disclosure for transactions of $500,000 or less occurring at least six times annually. The SMB Disclosure Service helps lenders meet compliance challenges, providing standardized regulatory requirements through its API or user interface, allowing businesses to focus on customer relationships amid evolving state regulations. Rapid Finance supports small businesses in the U.S. with Lending-as-a-Service solutions, tailored to enterprise clients' needs.
Rapid Enterprise, a division of Rapid Finance, has introduced the SMB Disclosure Service, a standalone Software-as-a-Service (SaaS) Regtech module designed to assist business lenders in Georgia and Florida in complying with the states' new commercial financing disclosure requirements starting January 1, 2024. The service supports providers in adhering to transparency regulations for commercial financing transactions below a specified principal financing amount. Georgia's Senate Bill 90 and Florida's HB 1353 mandate disclosure for transactions of $500,000 or less occurring at least six times annually. The SMB Disclosure Service helps lenders meet compliance challenges, providing standardized regulatory requirements through its API or user interface, allowing businesses to focus on customer relationships amid evolving state regulations. Rapid Finance supports small businesses in the U.S. with Lending-as-a-Service solutions, tailored to enterprise clients' needs.