Small Business Financing Providers
Section 803(c)(ii) of the New York Financial Services Law requires that providers of sales-based financing that use the opt-in method of estimating APR provide annual reports to the Department “of estimated annual percentage rates disclosed to the recipient and actual retrospective annual percentage rates of completed transactions.”
More detail regarding these reports, which are due to be submitted to the Department by April 30 of every year commencing in 2025, can be found in 23 NYCRR 600.22.
Such reports may be submitted to the Department via email to [email protected]