Commercial Lending in California – A Brief Note on the Laws
Are you purchasing a new property or planning to refinance your existing property in California? And you are looking for commercial lending? Then you must be aware of the new laws that have been adopted by the state to make commercial financing transactions safe for all. Commercial lending in California is changing with time. The stakes on commercial lending compliance duties in California has again been raised. A new law has recently been adopted by the Golden State that requires non-bank lenders and intermediaries to offer special disclosures to commercial loan borrowers for certain types of commercial finance arrangements. The new California commercial lending laws are applied to commercial financing of $500,000 or less made to a borrower who plans to use it for purposes other than personal and household purposes. The commercial financing here includes asset-based lending transactions, commercial loans, lease financing transactions, commercial open-end credit