Rapid Enterprise, a division of Rapid Finance, a leading provider of automated Lending-as-a-Service (LaaS) solutions, has introduced its SMB Disclosure Service, a standalone Software-as-a-Service (SaaS) Regtech module. This service is designed to aid business lenders and financing companies operating in Georgia and Florida, ensuring compliance with the states' new commercial financing disclosure requirements effective January 1, 2024. Georgia's Senate Bill 90 and Florida's HB 1353 join other states like California, Utah, Virginia, and New York in enacting such disclosure laws, aiming to standardize disclosures for commercial financing under a specific principal amount. Rapid Finance's SMB Disclosure API integrates with loan origination platforms, providing compliant disclosures in HTML or PDF format. This LaaS solution supports enterprise growth by focusing on technology consulting and custom development and monitoring state regulations for timely additions.
Rapid Enterprise, a division of Rapid Finance, a leading provider of automated Lending-as-a-Service (LaaS) solutions, has introduced its SMB Disclosure Service, a standalone Software-as-a-Service (SaaS) Regtech module. This service is designed to aid business lenders and financing companies operating in Georgia and Florida, ensuring compliance with the states' new commercial financing disclosure requirements effective January 1, 2024. Georgia's Senate Bill 90 and Florida's HB 1353 join other states like California, Utah, Virginia, and New York in enacting such disclosure laws, aiming to standardize disclosures for commercial financing under a specific principal amount. Rapid Finance's SMB Disclosure API integrates with loan origination platforms, providing compliant disclosures in HTML or PDF format. This LaaS solution supports enterprise growth by focusing on technology consulting and custom development and monitoring state regulations for timely additions.