229 Companies Now Registered as Sales-Based Financing Providers in Virginia

Almost four years since Virginia’s sales-based financing provider law went into effect, the state now lists 229 registered parties. That’s an increase of only 27 companies since last year.

Both funders and brokers are required to be registered if they intend to transact with Virginia-based merchants, subject to some exceptions. Registrants on the list include some big recognizable names like eBay Commerce, First Data Merchant Services, PayPal, and Wal-Mart.com USA, but dozens of smaller known MCA broker shops also appear.

If you are a broker or funder in MCA and are not registered to do deals with Virginia-based merchants, you should contact a knowledgeable industry attorney to get set up right away. The law went into effect in 2022.