[{"code":"AL","name":"Alabama","verifiedOn":"2026-11-12","summary":"Alabama has no commercial financing disclosure law, so factoring terms are set by contract and UCC-1 filings go to the Secretary of State's UCC Division in Montgomery. The payer base is heavy with federal agencies at Redstone Arsenal, automakers, aerospace and shipbuilding primes, all of which pay on long, process-driven terms.","economy":{"paragraphs":["Alabama's biggest B2B payers are defense agencies, automakers, aerospace primes and shipbuilders. Huntsville is built around Redstone Arsenal, home to Army aviation and missile commands, the Missile Defense Agency and NASA's Marshall Space Flight Center. Mobile combines the Port of Mobile, Airbus's A320 and A220 final assembly lines and Austal USA's Navy and Coast Guard shipyard. The auto corridor runs through Mercedes-Benz in Vance, Hyundai in Montgomery, Honda in Lincoln and the Mazda Toyota plant in Huntsville. Birmingham adds healthcare, steel, utilities and a deep construction base, so engineering firms, staffing agencies, parts makers and subcontractors all carry large receivables.","Payment speed tracks the payer type. Federal agencies commonly pay about 30 days after a proper invoice, while defense primes often take 30 to 60 days once flow-down terms apply. Automakers and tier suppliers commonly run 45 to 90 days, and chargebacks or quality holds can reduce what a funder advances. Shipbuilding and aerospace work is often paid on milestones and acceptance. Public construction owners pay monthly partial payments under Ala. Code 39-2-12."],"metros":["Birmingham","Huntsville","Montgomery","Mobile","Tuscaloosa"],"industries":["Defense and aerospace contracting","Automotive manufacturing and parts","Shipbuilding and marine services","Construction","Healthcare services","Steel and metals"],"federalInstallations":["Redstone Arsenal","NASA Marshall Space Flight Center","Maxwell Air Force Base","Fort Rucker","Anniston Army Depot"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Alabama has no commercial financing disclosure law as of November 2026, and no 2025 or 2026 bill was found that enacted one. Factoring terms here are set by contract.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Alabama Secretary of State, Uniform Commercial Code Division (Montgomery)","searchUrl":"https://arc-sos.state.al.us/CGI/UCCNAME.MBR/INPUT","notes":"The online Advanced Search is free to view; a formal debtor-name search can be ordered on a UCC-11 request, and the office also indexes state and federal tax liens."},"publicPromptPay":{"statute":"Ala. Code §41-16-3 (contracts with the State of Alabama)","days":"Generally 30 days after the vendor completes its part and presents a proper, undisputed invoice","interest":"Interest at the legal rate currently charged by the state on amounts paid late","notes":"On public works, Ala. Code §39-2-12 calls for monthly partial payments no later than 35 days after the awarding authority accepts the estimate, with interest at the tax underpayment rate on undisputed late amounts; retainage is generally capped at 5% and stops at 50% completion. Contractors on state contracts generally must pay subs within 7 days of receiving payment if the contract is silent.","sourceUrl":"https://www.levelset.com/prompt-payment/alabama-prompt-payment-faqs/"},"privatePromptPay":{"statute":"Ala. Code §8-29-1 et seq.","ownerToContractor":"As the contract says; if it is silent, 30 days after receipt of the pay request or invoice","contractorToSub":"As the contract says; if it is silent, 7 days after the contractor receives the owner's payment","interest":"1% per month (12% a year) on late or wrongfully withheld amounts","notes":"The chapter does not apply to contracts of $10,000 or less, residential projects of 16 or fewer units, or government contracts.","sourceUrl":"https://www.levelset.com/prompt-payment/alabama-prompt-payment-faqs/"},"lien":{"statute":"Ala. Code §35-11-210 et seq.","preliminaryNotice":"Not required for original contractors. Subcontractors and suppliers must give the owner written notice before filing; suppliers who give notice before furnishing can claim a full-price lien instead of an unpaid-balance lien.","claimDeadline":"Generally within 4 months after last furnishing for subcontractors and suppliers (6 months for original contractors, 30 days for day laborers), filed with the probate judge of the county","enforceDeadline":"Generally within 6 months after the entire debt matures (Ala. Code §35-11-221)","sourceUrl":"https://www.levelset.com/mechanics-lien/alabama-lien-law-faqs/"},"publicBond":{"statute":"Ala. Code §39-1-1","threshold":"Public works contracts of $50,000 or more","claimNotice":"No fixed notice deadline, but written notice to the surety by registered or certified mail must precede suit by at least 45 days; suit generally within 1 year after final settlement of the contract","sourceUrl":"https://www.levelset.com/bond-claim/alabama-bond-claim-faqs/"},"other":["Fort Novosel was redesignated Fort Rucker in 2025, so federal paperwork from the Army aviation center now uses the Fort Rucker name.","Alabama is generally an unpaid-balance lien state: a sub or supplier who skips the pre-furnishing notice may be limited to what the owner still owes up the chain, which affects how funders value construction receivables."],"faqs":[{"q":"Is invoice factoring legal in Alabama?","a":"Yes. Factoring is a commercial sale of receivables governed by UCC Article 9 as adopted in Alabama, not a consumer loan. The funder buys your invoices, notifies or verifies with your customers, and perfects its interest by filing a UCC-1 with the Alabama Secretary of State. Federal prime contract invoices also need an Assignment of Claims filed with the contracting and disbursing offices."},{"q":"Does Alabama require a disclosure for factoring deals?","a":"No. Alabama has not passed a commercial financing disclosure law, so there is no state-mandated APR or cost disclosure for a factoring offer. Your protection is the contract itself. Ask for the advance rate, the fee schedule per 30 days, any minimums, and the termination terms in writing, and compare offers on total cost."},{"q":"Where do I search for UCC liens in Alabama?","a":"Use the Alabama Secretary of State's UCC Division search, which lets you look up filings by debtor name or file number. Search your exact legal name before you apply. Expect to see bank blanket liens, SBA loans, equipment lenders, cash advance providers and any state or federal tax liens, since each must release or subordinate before a funder buys invoices."},{"q":"Can I factor invoices to a Redstone Arsenal prime contractor?","a":"Yes. If you are a subcontractor, the funder underwrites the prime's credit and sends a commercial notice of assignment. If you hold a federal prime contract yourself, the funder files an Assignment of Claims under 31 U.S.C. 3727 and 41 U.S.C. 6305. The first acknowledgment often takes 2 to 6 weeks, then invoices flow normally."}],"sources":[{"label":"Venable LLP, State Commercial Financing Disclosure Laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Alabama Secretary of State, Uniform Commercial Code","url":"https://www.sos.alabama.gov/business-services/ucc-home"},{"label":"Levelset, Alabama mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/alabama-lien-law-faqs/"},{"label":"Levelset, Alabama prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/alabama-prompt-payment-faqs/"},{"label":"Levelset, Alabama bond claim FAQs","url":"https://www.levelset.com/bond-claim/alabama-bond-claim-faqs/"},{"label":"U.S. Army, Home of Army Aviation redesignated Fort Rucker","url":"https://www.army.mil/article-amp/287149/home_of_army_aviation_redesignated_fort_rucker"}],"confidence":"high for disclosure status, UCC office, lien and bond rules (consistent with the existing Alabama page, no corrections needed); medium for the state-agency interest rate under §41-16-3, which the statute ties to an unspecified 'legal amount currently charged by the state'.","page_url":"/southeast/alabama/"},{"code":"AK","name":"Alaska","verifiedOn":"2026-11-12","summary":"Alaska has no commercial financing disclosure law, and unlike almost every other state its UCC-1 filings go to the UCC Central File run by the Department of Natural Resources Recorder's Office, not a secretary of state. Receivables here come from oil field services, seafood, military bases and Alaska Native corporations that hold large federal contracts.","economy":{"paragraphs":["Alaska's B2B receivables cluster around oil, seafood, defense and government. North Slope producers and the Trans-Alaska Pipeline System buy oilfield services, fuel, camp support and trucking. Seafood processors in Bristol Bay, Kodiak and Dutch Harbor buy packaging, freight and repair work. Joint Base Elmendorf-Richardson, Fort Wainwright, Eielson Air Force Base and Fort Greely support a large base of federal contractors, and Alaska Native corporations are among the state's biggest government contractors. The Port of Alaska in Anchorage moves most of the goods the state consumes, so logistics and freight firms also carry long receivables.","Seasonality is the defining feature. The construction season is short, fishing runs are concentrated in summer, and tourism peaks between May and September, so many businesses earn most of their revenue in a few months but pay crews and suppliers up front. Remote logistics stretch invoice cycles. State agencies generally pay within 30 days of a proper bill, and federal agencies commonly pay about 30 days after a proper invoice."],"metros":["Anchorage","Fairbanks","Juneau","Wasilla","Kodiak"],"industries":["Oil and gas services","Seafood processing","Defense and federal contracting","Construction","Transportation and logistics","Tourism"],"federalInstallations":["Joint Base Elmendorf-Richardson","Fort Wainwright","Eielson Air Force Base","Fort Greely"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Alaska has no commercial financing disclosure law as of November 2026, and no 2025 or 2026 bill was found that enacted one. Factoring terms here are set by contract.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Alaska Department of Natural Resources, Recorder's Office, UCC Central File (Anchorage)","searchUrl":"https://dnr.alaska.gov/ssd/recoff/Ucc/search/Name","notes":"New financing statements are filed only with UCC Central; fixture filings, as-extracted collateral and timber go to the local recording district, and DNR advises a document-number search because a name search may not retrieve every filing made after July 1, 2001."},"publicPromptPay":{"statute":"Alaska Stat. §37.05.285","days":"By the contract date, or if none, 30 days after receipt of a proper billing","interest":"1.5% per month on the unpaid balance from the required payment date, unless the contract sets a lower rate or bars interest","notes":"Public construction follows AS 36.90.200: payment within 30 days of a proper request, with interest at the AS 45.45.010 rate; primes must pay subs within 8 working days of receiving payment (AS 36.90.210). The construction rule does not apply to political subdivisions under 800 people.","sourceUrl":"https://codes.findlaw.com/ak/title-37-public-finance/ak-st-sect-37-05-285/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Alaska has no prompt payment statute for private construction; timing is set by contract, with lien rights as the main remedy.","sourceUrl":"https://www.levelset.com/prompt-payment/alaska-prompt-payment-faqs/"},"lien":{"statute":"Alaska Stat. §34.35.050 et seq.","preliminaryNotice":"Not generally required. An optional notice of right to lien (AS 34.35.064) shifts the burden to the owner and protects against a short deadline after a notice of completion.","claimDeadline":"Generally within 120 days after the claimant last furnishes labor or materials; if a notice of completion is recorded, generally 15 days after it unless the claimant recorded a notice of right to lien","enforceDeadline":"Within 6 months after recording the claim of lien, extendable once by 6 months with a recorded notice of extension","sourceUrl":"https://www.levelset.com/mechanics-lien/alaska-lien-law-faqs/"},"publicBond":{"statute":"Alaska Stat. §36.25.010 to .025","threshold":"Public building or public works contracts exceeding $100,000","claimNotice":"A claimant with no direct contract with the prime must give written notice to the prime by registered mail within 90 days after last furnishing; suit no sooner than 90 days after last furnishing and within 1 year after final settlement","sourceUrl":"https://www.levelset.com/bond-claim/alaska-bond-claim-faqs/"},"other":["UCC searches and filings run through the Department of Natural Resources, not a secretary of state, so a lien search that only checks a secretary of state database will miss Alaska filings.","State agencies owe 1.5% per month on late payments under AS 37.05.285, and the vendor must request interest in writing within 30 days after receiving a late payment (2 AAC 15.115)."],"faqs":[{"q":"Is invoice factoring legal in Alaska?","a":"Yes. Factoring is a sale of business receivables governed by Alaska's version of UCC Article 9. The funder buys your invoices and perfects its interest by filing a UCC-1 with the UCC Central File at the Department of Natural Resources. Invoices to federal agencies, such as base contracts at Elmendorf-Richardson or Fort Wainwright, also need an Assignment of Claims."},{"q":"Does Alaska require a disclosure for factoring deals?","a":"No. Alaska has no commercial financing disclosure law, so no state rule requires an APR or standard cost disclosure on a factoring offer. Get the advance rate, the fee per 30 days, minimum volume, reserve release timing and termination terms in writing, and compare offers on total cost for your real collection cycle."},{"q":"Where do I search for UCC liens in Alaska?","a":"Search the UCC Central File on the Department of Natural Resources Recorder's Office site, by debtor name or document number. DNR notes a name search may not catch every filing made after July 1, 2001, so check document numbers for any filings you find. Fixture filings are recorded in the local recording district instead."},{"q":"Can a seasonal Alaska business use factoring?","a":"Yes, and seasonal firms are a common fit. A contractor, seafood supplier or tour operator that bills large customers in summer can sell those invoices instead of waiting 30 to 60 days for payment. Facilities can scale with the season, so you draw heavily in peak months and little in winter, as long as your customers are creditworthy businesses or agencies."}],"sources":[{"label":"Venable LLP, State Commercial Financing Disclosure Laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Alaska DNR Recorder's Office, UCC Central File FAQs","url":"https://dnr.alaska.gov/ssd/recoff/ucc/Faqs"},{"label":"Alaska Stat. §37.05.285, payment for state purchases (FindLaw)","url":"https://codes.findlaw.com/ak/title-37-public-finance/ak-st-sect-37-05-285/"},{"label":"Levelset, Alaska prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/alaska-prompt-payment-faqs/"},{"label":"Levelset, Alaska mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/alaska-lien-law-faqs/"},{"label":"Levelset, Alaska bond claim FAQs","url":"https://www.levelset.com/bond-claim/alaska-bond-claim-faqs/"}],"confidence":"high for disclosure status, UCC office, lien and bond rules; medium for the 2 AAC 15.115 30-day interest request rule, seen only in search excerpts of the regulation.","page_url":"/states/alaska/"},{"code":"AZ","name":"Arizona","verifiedOn":"2026-11-12","summary":"Arizona has no commercial financing disclosure law, and UCC-1 filings go to the Arizona Secretary of State. Two local rules matter more for factoring: a 20-day preliminary notice is required to keep lien and bond rights, and as a community property state Arizona requires both spouses to sign a personal guaranty for it to bind community assets.","economy":{"paragraphs":["Arizona's receivables come from semiconductors, aerospace, defense, construction and healthcare. TSMC's Phoenix fabs and Intel's Chandler campus draw a large chain of contractors, equipment vendors and staffing firms. RTX's missile business in Tucson, Honeywell Aerospace in Phoenix and Boeing's Mesa helicopter plant buy machining, electronics and engineering services. Luke and Davis-Monthan Air Force Bases, Fort Huachuca and Yuma Proving Ground support federal contractors. Banner Health and other hospital systems, copper mines and fast-growing home and commercial construction add more slow-paying commercial customers.","Construction is the biggest single factoring market, driven by fab, data center and housing work around Phoenix. Public owners must pay certified progress payments within 14 days and private owners within 7 days after approval, so contractors with clean paperwork often get paid faster than in many states. Yuma's winter vegetable season and produce moving through the Nogales port of entry create seasonal receivables from grocers and distributors, typically on 21 to 30 day terms."],"metros":["Phoenix","Tucson","Mesa","Chandler","Yuma"],"industries":["Semiconductor manufacturing","Aerospace and defense","Construction","Healthcare services","Mining","Agriculture and produce distribution"],"federalInstallations":["Luke Air Force Base","Davis-Monthan Air Force Base","Fort Huachuca","Yuma Proving Ground","Marine Corps Air Station Yuma"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Arizona has no commercial financing disclosure law as of November 2026, and no 2025 or 2026 bill was found that enacted one. Factoring terms here are set by contract.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Arizona Secretary of State, Business Services Division, UCC filings (Phoenix and Tucson offices)","searchUrl":"https://apps.azsos.gov/apps/ucc/search/","notes":null},"publicPromptPay":{"statute":"A.R.S. §41-2577 (state construction) and §34-221 (other public agents)","days":"Progress payments within 14 days after an estimate is certified and approved; an estimate is deemed approved 7 days after submission unless the owner issues a written finding","interest":"1% per month on late payments to the contractor","notes":"These rules cover public construction contracts; contractors must pay subs and suppliers within 7 days of receiving each progress payment. A general state-agency rule for non-construction vendor invoices was not verified.","sourceUrl":"https://www.azleg.gov/ars/41/02577.htm"},"privatePromptPay":{"statute":"A.R.S. §32-1181 et seq.","ownerToContractor":"Owner has 14 days to approve or deny a billing, then 7 days after approval to pay","contractorToSub":"7 days after receipt of each payment","interest":"1.5% per month on late or wrongfully withheld payments","notes":"The prevailing party in a collection action or arbitration recovers costs and reasonable attorney fees.","sourceUrl":"https://www.levelset.com/prompt-payment/arizona-prompt-payment-faqs/"},"lien":{"statute":"A.R.S. §33-981 et seq.","preliminaryNotice":"Required for most claimants: a preliminary 20-day notice to the owner, original contractor, lender and hiring party within 20 days after first furnishing (A.R.S. §33-992.01); a late notice covers only work from 20 days before it was served","claimDeadline":"Generally within 120 days after completion of the project, or 60 days after a recorded notice of completion","enforceDeadline":"Foreclosure suit within 6 months after recording the lien, with a lis pendens recorded within 5 days of filing","sourceUrl":"https://www.levelset.com/mechanics-lien/arizona-lien-law-faqs/"},"publicBond":{"statute":"A.R.S. §34-222 to -224","threshold":"Generally required on public works; state projects of $100,000 or more","claimNotice":"Claimants without a direct contract with the prime must serve the 20-day preliminary notice and give written notice to the prime by registered or certified mail within 90 days after last furnishing; suit more than 90 days but within 1 year after last furnishing","sourceUrl":"https://www.levelset.com/bond-claim/arizona-bond-claim-faqs/"},"other":["Arizona is a community property state: under A.R.S. §25-214(C), a guaranty binds the marital community only if both spouses sign, so funders commonly ask for a spouse's signature on the owner's personal guaranty.","Arizona's 20-day preliminary notice is a precondition to both private lien rights and public bond claims for most subs and suppliers, so funders often ask for proof it was served before advancing on construction invoices."],"faqs":[{"q":"Is invoice factoring legal in Arizona?","a":"Yes. Factoring is a commercial sale of receivables under Arizona's version of UCC Article 9, not a consumer loan. The funder buys your invoices and files a UCC-1 with the Arizona Secretary of State. If the owners sign a personal guaranty, expect the funder to ask both spouses to sign, because Arizona community property rules require it."},{"q":"Does Arizona require a disclosure for factoring deals?","a":"No. Arizona has no commercial financing disclosure law, so there is no required APR or standard cost form for factoring offers. Compare proposals on the advance rate, the fee per 30 days, minimum volume, reserve release and termination terms, and get every fee in writing before you sign."},{"q":"Where do I search for UCC liens in Arizona?","a":"Use the Arizona Secretary of State's public UCC search, which looks up filings by organization name, individual name or filing number. The web search does not produce certified results, so order a certified search from the office if a lender needs one. Clear out old filings from lenders you have already paid before you apply."},{"q":"Can an Arizona subcontractor factor invoices on a fab or data center job?","a":"Usually yes. Funders look at the general contractor's payment history, your lien position and whether you served the 20-day preliminary notice. Arizona's prompt pay law requires payment to subs within 7 days after the contractor is paid, which helps, but retainage and pay-when-paid terms usually lower the advance."}],"sources":[{"label":"Venable LLP, State Commercial Financing Disclosure Laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Levelset, Arizona prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/arizona-prompt-payment-faqs/"},{"label":"Levelset, Arizona mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/arizona-lien-law-faqs/"},{"label":"Levelset, Arizona bond claim FAQs","url":"https://www.levelset.com/bond-claim/arizona-bond-claim-faqs/"},{"label":"Arizona Legislature, A.R.S. §41-2577","url":"https://www.azleg.gov/ars/41/02577.htm"},{"label":"Arizona Legislature, A.R.S. §25-214","url":"https://www.azleg.gov/ars/25/00214.htm"}],"confidence":"high for disclosure status, lien, private prompt pay and community property guaranty rule; medium for the bond threshold (state $100,000 figure from Levelset only) and UCC details, because the Secretary of State site blocked direct fetching (search URL taken from official search results); no general non-construction state vendor prompt pay rule was verified.","page_url":"/states/arizona/"},{"code":"AR","name":"Arkansas","verifiedOn":"2026-11-12","summary":"Arkansas has no commercial financing disclosure law, and UCC-1 filings go to the Arkansas Secretary of State's Business and Commercial Services division in Little Rock. Its payer base is shaped by big corporate headquarters in Northwest Arkansas (retail, poultry, trucking), plus a constitutional 17% interest cap that makes a true-sale factoring structure important.","economy":{"paragraphs":["Arkansas receivables are concentrated around a handful of very large buyers. Walmart in Bentonville anchors a dense network of suppliers and vendor offices in Northwest Arkansas, Tyson Foods in Springdale buys from growers, packagers and haulers, and J.B. Hunt in Lowell pays carriers and logistics vendors. Steel mills in Mississippi County, defense plants in Camden, rice and poultry operations in the Delta, and timber and paper mills in the south add more B2B billing. Little Rock Air Force Base and Pine Bluff Arsenal support federal contractors, and state agencies and hospital systems round out the payer list.","Retail and food suppliers often face long terms and deductions from big buyers, so funders look closely at chargebacks and dilution. Agriculture is seasonal, with rice harvest in the fall and poultry year round. Trucking firms are a large factoring market because carriers pay fuel and drivers weekly while shippers and brokers pay in 30 days or more. Public construction owners must process progress payments quickly under Ark. Code 19-4-1411."],"metros":["Little Rock","Fayetteville-Springdale-Rogers","Fort Smith","Jonesboro","Pine Bluff"],"industries":["Retail supply and consumer goods","Poultry and food processing","Trucking and logistics","Steel manufacturing","Agriculture","Timber and paper"],"federalInstallations":["Little Rock Air Force Base","Pine Bluff Arsenal","Fort Chaffee Joint Maneuver Training Center"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Arkansas has no commercial financing disclosure law as of November 2026, and no 2025 or 2026 bill was found that enacted one. Factoring terms here are set by contract.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Arkansas Secretary of State, Business and Commercial Services division (Little Rock)","searchUrl":"https://bcs.sos.arkansas.gov/","notes":"The state has been moving UCC filing and search from the older ark.org system to the Business and Commercial Services portal, so confirm you are searching the current system."},"publicPromptPay":{"statute":"Ark. Code §19-4-1411 and §22-9-205 (public construction)","days":"Progress payment requests: 5 working days each for the design professional, the agency and the Department of Finance and Administration to process; final payment within 90 days after completion and approval","interest":"10% a year on unpaid amounts after the 90-day final payment period; an 8% a year penalty against a party that delays processing","notes":"These rules cover public construction contracts; State Highway Commission contracts are excluded. A general rule for non-construction vendor invoices was not verified.","sourceUrl":"https://www.levelset.com/prompt-payment/arkansas-prompt-payment-faqs/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Arkansas has no prompt payment statute for private construction or for contractor-to-sub payments; timing comes from the contract.","sourceUrl":"https://www.levelset.com/prompt-payment/arkansas-prompt-payment-faqs/"},"lien":{"statute":"Ark. Code §18-44-101 et seq.","preliminaryNotice":"On residential work of 4 or fewer units, the general contractor must give the owner a pre-construction notice; on commercial work, subs and suppliers must send a notice to owner and contractor within 75 days of last furnishing; everyone must send a notice of intent at least 10 days before filing","claimDeadline":"Generally within 120 days after last furnishing labor or materials, filed with the circuit clerk of the county","enforceDeadline":"Within 15 months after the lien is filed","sourceUrl":"https://www.levelset.com/mechanics-lien/arkansas-lien-law-faqs/"},"publicBond":{"statute":"Ark. Code §18-44-503 and §22-9-401","threshold":"Public construction contracts exceeding $50,000","claimNotice":"Claimants without a direct contract with the prime must give written notice to the contractor and surety within 90 days after last furnishing; suit within 1 year after final payment or the date the prime stops work, whichever comes first","sourceUrl":"https://www.levelset.com/bond-claim/arkansas-bond-claim-faqs/"},"other":["Amendment 89 to the Arkansas Constitution caps interest at 17% a year on loans from lenders that are not exempt (insured banks based in Arkansas are exempt), so funders structure factoring as a true purchase of invoices rather than a loan.","Arkansas has no private prompt payment statute, so a contractor's or supplier's payment timing depends entirely on contract terms and lien rights."],"faqs":[{"q":"Is invoice factoring legal in Arkansas?","a":"Yes. Factoring is a commercial sale of receivables under Arkansas's version of UCC Article 9, and the funder files a UCC-1 with the Arkansas Secretary of State. Because Arkansas caps loan interest at 17% for many lenders, funders take care to structure the deal as a true sale of invoices, with the customer's credit risk passing to the buyer as the contract provides."},{"q":"Does Arkansas require a disclosure for factoring deals?","a":"No. Arkansas has not passed a commercial financing disclosure law, so there is no required APR or standard cost form. Ask for the advance rate, the fee per 30 days, any minimums, reserve release timing and termination terms in writing, and compare offers on what you will actually pay for your customers' real payment cycle."},{"q":"Where do I search for UCC liens in Arkansas?","a":"Search through the Arkansas Secretary of State's Business and Commercial Services portal, which covers active and unlapsed UCC records. The state warns that results may not show every matching record, so a certified search is worth ordering before a large deal. Look for bank blanket liens, equipment lenders, cash advance providers and tax liens."},{"q":"Can a Walmart supplier factor its invoices?","a":"Usually yes. Large retailers are strong credits, so funders often advance at good rates on their invoices. Expect the funder to study deductions, chargebacks and promotional allowances, because those reduce what the retailer actually pays. A concentration limit is common when one retailer makes up most of your receivables."}],"sources":[{"label":"Venable LLP, State Commercial Financing Disclosure Laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Arkansas Secretary of State, UCC and other commercial services","url":"https://www.sos.arkansas.gov/business-commercial-services-bcs/ucc-other-commercial-services"},{"label":"Levelset, Arkansas prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/arkansas-prompt-payment-faqs/"},{"label":"Levelset, Arkansas mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/arkansas-lien-law-faqs/"},{"label":"Levelset, Arkansas bond claim FAQs","url":"https://www.levelset.com/bond-claim/arkansas-bond-claim-faqs/"},{"label":"Encyclopedia of Arkansas, Usury","url":"https://encyclopediaofarkansas.net/entries/usury-13876/"}],"confidence":"high for disclosure status, lien rules and bond notice; medium for the $50,000 bond threshold and public prompt pay details (Levelset only, which cites statute text from 2021); the UCC search URL comes from official search results, and no general non-construction state vendor prompt pay rule was verified.","page_url":"/states/arkansas/"},{"code":"CA","name":"California","verifiedOn":"2026-11-12","summary":"California has the country's most developed commercial financing disclosure law, and it explicitly covers factoring offers of $500K or less: providers must show an estimated APR, and since January 1, 2026 SB 362 requires the APR every time a price is quoted. A 2026 law (AB 2116) will also require CFL licensing for providers and brokers of these smaller deals starting in 2028, while UCC-1 filings go to the Secretary of State through bizfile Online.","economy":{"paragraphs":["California has the largest and most varied B2B receivables base in the country. The Ports of Los Angeles, Long Beach and Oakland drive trucking, drayage, customs brokerage and warehousing. Silicon Valley tech companies buy contract engineering, staffing and services. Aerospace and defense work clusters around Edwards Air Force Base, Vandenberg Space Force Base and Southern California primes, and Naval Base San Diego and Camp Pendleton support ship repair and base services. Central Valley agriculture, Hollywood production, large hospital systems and a huge state and local government sector all create slow-paying commercial customers.","Terms vary by sector. Big tech and entertainment buyers often pay on 45 to 90 day terms, and production work is billed by project. Agricultural receivables follow harvest seasons and grower contracts. State agencies must pay undisputed invoices within 45 days under the California Prompt Payment Act, with automatic penalties for late payment. Private construction owners generally must pay within 30 days of a payment request, and late payments carry a 2% per month penalty."],"metros":["Los Angeles","San Francisco Bay Area","San Diego","Sacramento","Fresno","Inland Empire"],"industries":["Logistics and port services","Technology services","Aerospace and defense","Agriculture and food processing","Entertainment production","Construction","Healthcare services"],"federalInstallations":["Naval Base San Diego","Marine Corps Base Camp Pendleton","Edwards Air Force Base","Vandenberg Space Force Base","Travis Air Force Base","Fort Irwin"]},"disclosure":{"status":"in_effect","name":"California commercial financing disclosure law","citation":"Cal. Fin. Code §22800 et seq., with DFPI regulations in Title 10 of the California Code of Regulations","billOrAct":"SB 1235 (2018), amended by SB 362 (2025)","effective":"2022-12-09","threshold":"Commercial financing offers of $500,000 or less","coversFactoring":true,"aprRequired":true,"registration":null,"exemptions":"Depository institutions, deals over $500,000, financing secured by real property, certain vehicle dealer financing, and providers that make no more than one deal (or five incidental deals) in 12 months.","enforcement":"The Department of Financial Protection and Innovation (DFPI) enforces, under the California Financing Law for licensees and the California Consumer Financial Protection Law for others.","notes":"Since January 1, 2026, SB 362 bars using 'interest' or 'rate' in a misleading way and requires the APR to be stated whenever a price or pricing metric is quoted during the application process. The disclosure duty falls on the provider, not the broker. No separate registration today. AB 2116 (2026) will require California Financing Law licensing for providers and brokers of commercial financing offers of $500,000 or less, including factoring; most provisions take effect January 1, 2028 and the licensing requirement July 1, 2028.","sourceUrl":"https://www.mofo.com/resources/insights/261015-california-expands-california-financing-law","thresholdUsd":500000},"ucc":{"office":"California Secretary of State, Uniform Commercial Code section (Sacramento)","searchUrl":"https://bizfileonline.sos.ca.gov/","notes":"Searches by debtor name, secured party or file number and plain copies are free on bizfile Online without a login; certified searches are ordered on a UCC-11 request, and the office also indexes judgment, attachment and tax liens."},"publicPromptPay":{"statute":"Cal. Gov. Code §927 et seq. (California Prompt Payment Act)","days":"45 days after receipt of a properly submitted, undisputed invoice","interest":"Automatic daily penalty; for FY 2026-27, 16.75% a year for certified small businesses and nonprofits and 4.829% a year for other businesses (set annually by the Department of Finance)","notes":"No penalty is paid if it is $10 or less ($100 or less for other businesses). Public construction follows separate rules: Pub. Contract Code §10261.5 requires state progress payments within 30 days, and §7107 requires retention release within 60 days after completion.","sourceUrl":"https://dof.ca.gov/media/docs/budget/resources-for-departments/budget-letters/BL-26-09.pdf"},"privatePromptPay":{"statute":"Cal. Civ. Code §8800 (owner) and Bus. & Prof. Code §7108.5 (contractor to sub)","ownerToContractor":"Within 30 days after a payment request, unless otherwise agreed in writing","contractorToSub":"Within 7 days after receiving a progress payment, unless otherwise agreed in writing","interest":"2% per month penalty on late payments","notes":"A payer may withhold up to 150% of an amount in good-faith dispute. Private retention must be paid within 45 days after completion and passed to subs within 10 days (Civ. Code §8812 and §8814).","sourceUrl":"https://www.levelset.com/prompt-payment/california-prompt-payment-faqs/"},"lien":{"statute":"Cal. Civ. Code §8000 to §9566","preliminaryNotice":"Subs and suppliers must serve a 20-day preliminary notice on the owner, prime contractor and lender within 20 days of first furnishing; a late notice covers only work in the prior 20 days","claimDeadline":"Generally within 90 days after completion of the work of improvement, or 30 days after a recorded notice of completion or cessation","enforceDeadline":"Within 90 days after recording the lien","sourceUrl":"https://www.levelset.com/mechanics-lien/california-lien-law-faqs/"},"publicBond":{"statute":"Cal. Civ. Code §9550 et seq.","threshold":"Public works contracts over $25,000","claimNotice":"A 20-day preliminary notice generally preserves bond rights; without one, written notice to the surety and principal within 15 days after a recorded notice of completion or 75 days after completion. Suit within 6 months after the stop payment notice period expires.","sourceUrl":"https://www.levelset.com/bond-claim/california-bond-claim-faqs/"},"other":["Factoring offers of $500K or less must come with a California disclosure that includes an estimated APR, so you can compare a factoring quote with a bank line on the same basis.","AB 2116 (2026) brings factoring providers and brokers of deals of $500K or less under California Financing Law licensing, with the licensing requirement starting July 1, 2028.","On private jobs, California's 2% per month prompt pay penalty and strict 20-day preliminary notice rule both shape how funders value construction receivables."],"faqs":[{"q":"Is invoice factoring legal in California?","a":"Yes. Factoring is a sale of business receivables governed by California's version of UCC Article 9, and the funder files a UCC-1 with the Secretary of State. For offers of $500K or less, the provider must give a state-mandated disclosure. Starting in 2028, providers and brokers of those smaller deals will also need a California Financing Law license under AB 2116."},{"q":"Does California require a disclosure for factoring deals?","a":"Yes, for offers of $500K or less. Under Fin. Code §22800 and DFPI rules in effect since December 9, 2022, factoring providers must disclose the funding amount, total cost and an estimated APR. Since January 1, 2026, SB 362 also requires the APR whenever a price is quoted. Banks and deals over $500K are exempt."},{"q":"Where do I search for UCC liens in California?","a":"Use the UCC search on the Secretary of State's bizfile Online portal. You can search by debtor name, secured party or file number and print copies free without logging in. Certified searches require an order. The same index shows judgment liens, attachment liens and state and federal tax liens, which all matter to a funder."},{"q":"Can I factor invoices owed by a California state agency?","a":"Usually yes. State agencies must pay undisputed invoices within 45 days or pay an automatic late penalty, 16.75% a year for certified small businesses in FY 2026-27. That predictability helps advance rates. Expect the funder to confirm the contract allows assignment and to send payment instructions to the agency's accounting office."}],"sources":[{"label":"Morrison Foerster, California expands the California Financing Law to small business commercial financing (AB 2116)","url":"https://www.mofo.com/resources/insights/261015-california-expands-california-financing-law"},{"label":"Buchalter, SB 362 limits on 'rate' and 'interest' for offers of $500,000 or less","url":"https://www.buchalter.com/insights/starting-january-1-2026-for-commercial-financing-offers-of-500000-or-less-new-california-senate-bill-362-places-limitations-on-the-use-of-rate-and-interest-by/"},{"label":"Consumer Financial Services Law Monitor, California final commercial financing disclosure regulations","url":"https://www.consumerfinancialserviceslawmonitor.com/2022/06/california-approves-final-commercial-financing-disclosure-regulations-and-sets-compliance-deadline/"},{"label":"Venable LLP, State Commercial Financing Disclosure Laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"California Department of Finance, Budget Letter 26-09, late payment penalty rates","url":"https://dof.ca.gov/media/docs/budget/resources-for-departments/budget-letters/BL-26-09.pdf"},{"label":"California Secretary of State, UCC records","url":"https://www.sos.ca.gov/administration/public-records-act-requests/uniform-commercial-code-ucc-records"},{"label":"Levelset, California prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/california-prompt-payment-faqs/"},{"label":"Levelset, California mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/california-lien-law-faqs/"},{"label":"Levelset, California bond claim FAQs","url":"https://www.levelset.com/bond-claim/california-bond-claim-faqs/"}],"confidence":"high for disclosure law, factoring coverage, prompt pay penalty rates, lien and bond rules; medium on exact exemption wording, because the official leginfo statute pages could not be fetched (law-firm summaries used); private right of action not verified, so not stated.","page_url":"/states/california/"},{"code":"CO","name":"Colorado","verifiedOn":"2026-11-12","summary":"Colorado has no commercial financing disclosure law, and UCC-1 filings go to the Colorado Secretary of State, whose online UCC search and copies are free. Receivables here come largely from aerospace and space programs, the military bases around Colorado Springs, energy, construction and healthcare.","economy":{"paragraphs":["Colorado's B2B payers lean toward aerospace, defense and energy. Lockheed Martin Space in Littleton, United Launch Alliance in Centennial and BAE Systems' space business in Broomfield buy engineering, machining and test services. Colorado Springs is home to Fort Carson, Peterson and Schriever Space Force Bases and the Air Force Academy, and Buckley Space Force Base sits in Aurora, so federal contractors are common. Oil and gas producers in the Denver-Julesburg Basin buy field services and trucking. Meatpacking and agriculture around Greeley, ski resorts in the mountains and large hospital systems along the Front Range add more commercial customers.","Federal agencies commonly pay about 30 days after a proper invoice, and state agencies must pay executive branch bills within 45 days or owe 1% per month interest. Energy work rises and falls with drilling activity, and mountain tourism peaks in winter and summer. Construction is a large market along the Front Range; Colorado has no private prompt pay statute, but public contractors must pay subs within 7 days of being paid."],"metros":["Denver","Colorado Springs","Aurora","Fort Collins","Greeley","Boulder"],"industries":["Aerospace and space systems","Defense contracting","Oil and gas services","Construction","Healthcare services","Food processing and agriculture","Tourism"],"federalInstallations":["Fort Carson","Peterson Space Force Base","Schriever Space Force Base","Buckley Space Force Base","U.S. Air Force Academy"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Colorado has no commercial financing disclosure law as of November 2026, and no 2025 or 2026 bill was found that enacted one. Factoring terms here are set by contract.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Colorado Secretary of State, Business and Licensing Division, UCC filings (Denver)","searchUrl":"https://www.sos.state.co.us/ucc/pages/search/standardSearch.xhtml","notes":"Online searches and copies are free; a standard debtor-name search can be certified on request, and the office accepts searches only through its electronic system, not by written request."},"publicPromptPay":{"statute":"C.R.S. §24-30-202(24)","days":"45 days after the executive branch liability was incurred","interest":"1% per month on the unpaid balance from the 45th day","notes":"Public construction contracts over $150,000 follow C.R.S. §24-91-103: monthly progress payments, final settlement within 60 days of acceptance, and payment to subs within 7 days of receipt, with interest at the contract rate or 15% a year, whichever is higher. A 2025 bill (HB25-1101) amended §24-30-202(24); its final effect on these terms was not verified.","sourceUrl":"https://colorado.public.law/statutes/crs_24-30-202"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Colorado has no prompt payment statute for private construction; timing is set by contract.","sourceUrl":"https://www.levelset.com/prompt-payment/colorado-prompt-payment-faqs/"},"lien":{"statute":"C.R.S. §38-22-101 to -133","preliminaryNotice":"Not generally required at the start of a project, but a notice of intent to lien must be served on the owner and prime contractor at least 10 days before filing (C.R.S. §38-22-109(3))","claimDeadline":"Generally within 4 months after last furnishing labor or materials (2 months for day laborers)","enforceDeadline":"Generally within 6 months after last work or completion, with a notice of the action recorded","sourceUrl":"https://www.levelset.com/mechanics-lien/colorado-lien-law-faqs/"},"publicBond":{"statute":"C.R.S. §38-26-105 to -107","threshold":"Public works contracts over $50,000 (state projects over $150,000)","claimNotice":"No statutory notice for a bond claim (check the bond); a verified statement of a claim against contract funds may be filed up to the time of final settlement, with suit within 90 days after final settlement","sourceUrl":"https://www.levelset.com/bond-claim/colorado-bond-claim-faqs/"},"other":["Colorado lets unpaid subs and suppliers on public jobs file a verified claim against the contract funds the public owner still holds, up to final settlement, which can protect a funder's collateral on public construction receivables.","Colorado's online UCC search and copies are free, so it costs nothing to check your own filings before you apply."],"faqs":[{"q":"Is invoice factoring legal in Colorado?","a":"Yes. Factoring is a sale of business receivables governed by Colorado's version of UCC Article 9, not a consumer loan. The funder buys your invoices and files a UCC-1 with the Colorado Secretary of State. Invoices to federal agencies at Fort Carson or the Space Force bases also need an Assignment of Claims filed with the contracting and disbursing offices."},{"q":"Does Colorado require a disclosure for factoring deals?","a":"No. Colorado has no commercial financing disclosure law, so no state rule requires an APR or standard cost form on a factoring offer. Compare proposals on the advance rate, the fee per 30 days, minimum volume, reserve release timing and termination terms, and get every fee in writing before you sign."},{"q":"Where do I search for UCC liens in Colorado?","a":"Use the Colorado Secretary of State's online UCC search. A standard search looks up a debtor's exact name, and an advanced search can use a document number or secured party. Searches and copies are free, and a standard search report can be certified on request. Clear out filings from lenders you have already paid off."},{"q":"Can a Colorado aerospace supplier factor invoices to a prime contractor?","a":"Usually yes. When you sell to a large prime in Littleton, Centennial or Colorado Springs, the funder underwrites the prime's credit and sends a commercial notice of assignment. Large primes are strong credits, so advances are often high, but milestone billing and acceptance terms can slow payment and affect which invoices qualify."}],"sources":[{"label":"Venable LLP, State Commercial Financing Disclosure Laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Colorado Secretary of State, UCC searching FAQs","url":"https://www.sos.state.co.us/pubs/UCC/FAQs/searching.html"},{"label":"C.R.S. §24-30-202 (Colorado public.law)","url":"https://colorado.public.law/statutes/crs_24-30-202"},{"label":"Levelset, Colorado prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/colorado-prompt-payment-faqs/"},{"label":"Levelset, Colorado mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/colorado-lien-law-faqs/"},{"label":"Levelset, Colorado bond claim FAQs","url":"https://www.levelset.com/bond-claim/colorado-bond-claim-faqs/"}],"confidence":"high for disclosure status, UCC office, lien rules and public construction prompt pay; medium for the state agency 45-day rule because HB25-1101 amended §24-30-202(24) in 2025 and the current text was not confirmed; Levelset is internally inconsistent on whether lien enforcement runs from the earlier or later of last work or completion, and on the bond suit deadline, so those are described generally.","page_url":"/states/colorado/"},{"code":"CT","name":"Connecticut","verifiedOn":"2026-11-12","summary":"Connecticut has a commercial financing disclosure and registration law, but it reaches only sales-based financing (revenue-based advances) of $250,000 or less, so classic invoice factoring falls outside it. Lenders file and search UCC-1s with the Secretary of the State, and the payer base is heavy on defense primes, insurers and hospital systems.","economy":{"paragraphs":["Connecticut receivables are anchored by a few large, slow payers. Submarine work at General Dynamics Electric Boat in Groton, jet engines at Pratt & Whitney in East Hartford and helicopters at Sikorsky in Stratford support a deep base of machine shops, fabricators and engineering firms on net 45 to net 90 terms with quality holds. Hartford's insurance headquarters buy IT, staffing and facilities services. Hospital systems such as Yale New Haven Health and Hartford HealthCare pay medical staffing and service vendors, and state agencies and towns pay a long list of contractors.","Defense suppliers usually see flow-down terms from the prime and payment tied to inspection, so 60 days or more is common. State agencies generally have 45 days to pay a proper claim when the contract sets no date. Construction runs on the state's 30-day owner and 25-day contractor pay clocks, but retainage and change orders stretch real collection times."],"metros":["Hartford","New Haven","Bridgeport-Stamford","Waterbury","New London-Groton"],"industries":["Aerospace and defense manufacturing","Submarine and shipbuilding supply chain","Insurance and financial services vendors","Healthcare staffing and services","Construction subcontracting","Precision machining"],"federalInstallations":["Naval Submarine Base New London","U.S. Coast Guard Academy","Bradley Air National Guard Base"]},"disclosure":{"status":"in_effect","name":"Connecticut commercial (sales-based) financing disclosure and registration law","citation":"Conn. Gen. Stat. §§36a-861 to 36a-872","billOrAct":"Public Act 23-201 (SB 1032, 2023)","effective":"2024-07-01","threshold":"Sales-based financing of $250,000 or less","coversFactoring":false,"aprRequired":false,"registration":"Providers and brokers of sales-based financing must register annually with the Connecticut Department of Banking through NMLS (registration deadline was October 1, 2024).","exemptions":"Banks, credit unions and their affiliates, Farm Credit lenders, real-estate-secured deals, leases, purchase-money obligations, vendor financing, and providers that extend no more than 5 deals in Connecticut in 12 months.","enforcement":"Banking Commissioner, who can suspend or revoke registrations, seek injunctions and impose civil penalties of up to $100,000 per violation (§36a-872).","notes":"The law defines commercial financing as sales-based financing only, repaid as a share of sales or through a reconciliation mechanism, so a standard invoice factoring deal is not covered. A 2026 bill (HB 5211) to add an APR disclosure and drop the $250,000 cap passed the House but did not pass the Senate before the session ended.","sourceUrl":"https://www.cga.ct.gov/current/pub/chap_669.htm","thresholdUsd":250000},"ucc":{"office":"Connecticut Office of the Secretary of the State, Business Services Division (filed through business.ct.gov)","searchUrl":"https://service.ct.gov/business/s/onlineenquiry","notes":"The state posts a free UCC lien search on its business portal; copies of liens are fee-based. Fixture filings go to town land records."},"publicPromptPay":{"statute":"Conn. Gen. Stat. §4a-71","days":"On the date the contract sets, or if none, within 45 days of a properly completed claim or receipt of the goods or services, whichever is later","interest":"Monthly effective yield of the state Short Term Investment Fund (STIF) on late amounts","notes":"Exceptions are listed in §4a-72. On state and municipal public works, separate payment rules for contractors and subs apply under §49-41a.","sourceUrl":"https://www.cga.ct.gov/current/pub/chap_058.htm"},"privatePromptPay":{"statute":"Conn. Gen. Stat. §§42-158i to 42-158n","ownerToContractor":"30 days after a written payment request","contractorToSub":"25 days after the contractor receives payment covering the sub's work","interest":"1% per month, starting 10 days after the unpaid party sends notice","notes":"Required terms must be written into each covered construction contract; check §42-158i for which contracts are covered.","sourceUrl":"https://www.cga.ct.gov/current/pub/chap_742b.htm"},"lien":{"statute":"Conn. Gen. Stat. §49-33 et seq.","preliminaryNotice":"Not required before work. Subs without a written, owner-assented contract must serve a notice of intent on the owner and original contractor within 90 days after they stop work (§49-35).","claimDeadline":"Generally 90 days after the claimant stops furnishing labor or materials, recorded with the town clerk, with a copy served on the owner within 30 days after recording (§49-34)","enforceDeadline":"Foreclosure action and lis pendens within 1 year after the lien is recorded (§49-39)","sourceUrl":"https://www.cga.ct.gov/current/pub/chap_847.htm"},"publicBond":{"statute":"Conn. Gen. Stat. §§49-41 and 49-42","threshold":"State and municipal public works contracts over $100,000","claimNotice":"Notice of claim on the surety (copy to the contractor) no later than 180 days after the claimant last furnished labor or materials, after waiting 60 days unpaid; retainage claims run from the payment date","sourceUrl":"https://www.cga.ct.gov/current/pub/chap_847.htm"},"other":["Connecticut's financing law bans prejudgment remedy waivers and requires a 3-day hold on specific offers, but only for covered sales-based financing.","Revenue-based advances of $250,000 or less require a provider registered with the Department of Banking; invoice factoring does not."],"faqs":[{"q":"Is invoice factoring legal in Connecticut?","a":"Yes. Factoring is a sale of receivables and is legal in Connecticut. The state's commercial financing law covers only sales-based financing, such as revenue-based advances of $250,000 or less, so a standard factoring facility does not need a state registration or a state disclosure form. The factor will still file a UCC-1 with the Secretary of the State and notify your customers to pay it."},{"q":"Does Connecticut require a disclosure for factoring deals?","a":"No state form is required for ordinary invoice factoring. Connecticut's disclosure rules, in effect since July 1, 2024, apply to sales-based financing of $250,000 or less, repaid as a share of sales. Those deals need a standard Department of Banking disclosure and a registered provider. A 2026 bill to add an APR disclosure did not pass. Ask any factor for a written fee schedule anyway."},{"q":"Where do I search for UCC liens in Connecticut?","a":"Use the Secretary of the State's free UCC lien search on the business.ct.gov portal. Search your exact legal name and any prior names. A factor will run the same search before funding and will need any lender with a lien on your receivables, such as a bank or SBA lender, to release or subordinate it. Fixture filings sit in town land records instead."},{"q":"How fast do Connecticut state agencies and contractors have to pay?","a":"State agencies generally must pay on the contract date or, if none is set, within 45 days of a proper claim, with interest tied to the state's STIF yield after that. On private construction, owners generally pay within 30 days of a written request and contractors pay subs within 25 days of being paid, with 1% monthly interest after notice."}],"sources":[{"label":"Connecticut General Statutes, Chapter 669 (commercial financing, §36a-861 et seq.)","url":"https://www.cga.ct.gov/current/pub/chap_669.htm"},{"label":"Connecticut Department of Banking, guidance on Public Act 23-201","url":"https://portal.ct.gov/-/media/dob/consumer-credit-division/commercial-financing-guidance-8-1.pdf"},{"label":"Connecticut General Assembly, HB 5211 (2026) bill status","url":"https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB5211&which_year=2026"},{"label":"OLR bill analysis, sHB 5211 (2026)","url":"https://prdext3.cga.ct.gov/2026/ba/pdf/2026HB-05211-R000134-BA.pdf"},{"label":"Connecticut General Statutes, Chapter 847 (liens and public works bonds)","url":"https://www.cga.ct.gov/current/pub/chap_847.htm"},{"label":"Connecticut General Statutes, Chapter 742b (construction contracts prompt payment)","url":"https://www.cga.ct.gov/current/pub/chap_742b.htm"},{"label":"Connecticut General Statutes, Chapter 58 (§4a-71 state prompt payment)","url":"https://www.cga.ct.gov/current/pub/chap_058.htm"},{"label":"Business.CT.gov, UCC forms and fees","url":"https://business.ct.gov/knowledge-base/articles/uniform-commercial-code-forms-and-fees"},{"label":"Levelset, Connecticut mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/connecticut-lien-law-faqs/"},{"label":"Venable, state commercial financing disclosure laws (2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high. Statutes read on cga.ct.gov; HB 5211 status read from the CGA bill page (last action May 6, 2026, not passed). Which private contracts §42-158i covers was not checked in detail.","page_url":"/states/connecticut/"},{"code":"DE","name":"Delaware","verifiedOn":"2026-11-12","summary":"Delaware has no commercial financing disclosure law, so factoring deals here carry no state-mandated cost disclosure. UCC-1s are filed with the Division of Corporations, which matters well beyond Delaware because every Delaware corporation and LLC is searched here, and public searches go through authorized searchers rather than a free online database.","economy":{"paragraphs":["Delaware's B2B receivables come from a compact but varied payer base. Wilmington hosts credit card and banking operations centers and the chemical industry's headquarters and labs, which buy engineering, IT, staffing and facilities services. The Port of Wilmington moves fresh fruit and other perishables, feeding trucking and warehousing firms. Downstate, Dover Air Force Base anchors defense and logistics contractors, and Sussex County poultry processing supports growers, haulers and feed and equipment suppliers. ChristianaCare and Bayhealth pay medical staffing and service vendors.","Large corporate and bank buyers often run net 45 to net 60 terms with strict invoice portals. State agencies owe interest if they do not pay a valid invoice within 30 days. Poultry and agriculture follow production cycles, and summer beach-town demand in Sussex County lifts hospitality suppliers and construction trades."],"metros":["Wilmington","Dover","Newark","Middletown","Georgetown"],"industries":["Banking and credit card operations vendors","Chemicals and life sciences","Port logistics and trucking","Poultry processing and agriculture","Healthcare staffing","Construction subcontracting"],"federalInstallations":["Dover Air Force Base","New Castle Air National Guard Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Delaware commercial financing disclosure statute was found as of November 2026; a March 2026 survey of state laws does not list Delaware.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Delaware Department of State, Division of Corporations (UCC section); filings are electronic or through an Authorized UCC Filer","searchUrl":null,"notes":"There is no free public online UCC search; certified searches are ordered through Delaware Authorized Searchers (registered agents, service companies and law firms) for a fee."},"publicPromptPay":{"statute":"29 Del. C. §6516","days":"Interest may be charged if a state agency does not pay within 30 days of the later of a valid invoice or receipt of the goods or services","interest":"Up to 12% a year, billed by the vendor in dollars; on public works, up to 2% above the Federal Reserve prime rate","notes":"On public works, progress payments are due 21 days after the estimate is certified and contractors pay subs within 21 days of receipt (§6516(f)).","sourceUrl":"https://delcode.delaware.gov/title29/c065/index.html"},"privatePromptPay":{"statute":"6 Del. C. §3506","ownerToContractor":"30 days after the end of the billing period, for satisfactory work","contractorToSub":"30 days, out of amounts paid to the contractor","interest":"Delaware legal rate, compounded each 30 days","notes":"Chapter 35 also makes construction payments trust funds for subs and suppliers (§§3502 to 3505). Retainage is allowed if the contract provides for it and the payer gives written notice within 7 days.","sourceUrl":"https://delcode.delaware.gov/title6/c035/index.html"},"lien":{"statute":"25 Del. C. §2701 et seq.","preliminaryNotice":"Not generally required","claimDeadline":"Generally 120 days after completing labor or last delivering materials, or 120 days after final payment is due to the claimant or made to the prime contractor (§2711(b))","enforceDeadline":"The statement of claim is filed in Superior Court and starts the lien action itself, so there is generally no separate later suit deadline","sourceUrl":"https://delcode.delaware.gov/title25/c027/sc02/index.html"},"publicBond":{"statute":"29 Del. C. §6962(d)(9)","threshold":"Large public works contracts (the 100% bond also secures payment of subs and suppliers); the dollar line is set by Office of Management and Budget thresholds","claimNotice":"No pre-suit notice in the statute; suit within 1 year after the contractor stops work if the bond says so, otherwise within 3 years after the last work","sourceUrl":"https://delcode.delaware.gov/title29/c069/sc04/index.html"},"other":["Because a corporation or LLC is located in its state of organization for UCC purposes, factors search and file in Delaware for any Delaware entity, even one that operates elsewhere.","Delaware construction law treats payments to a contractor as trust funds for subs and suppliers, and misusing them is a crime (6 Del. C. §3505)."],"faqs":[{"q":"Is invoice factoring legal in Delaware?","a":"Yes. Factoring is a sale of receivables and is legal in Delaware. The state has no commercial financing disclosure law and no registration rule for factors. The factor files a UCC-1 with the Division of Corporations and notifies your customers to pay it. Because so many companies are Delaware LLCs or corporations, that filing happens here even when the business operates in another state."},{"q":"Does Delaware require a disclosure for factoring deals?","a":"No. Delaware has not adopted a commercial financing disclosure law, so there is no state form showing total cost or APR. Ask any factor for a written schedule of every fee, the advance rate, reserves, term and termination costs, and compare offers on total dollar cost over a realistic collection period."},{"q":"Where do I search for UCC liens in Delaware?","a":"Delaware does not offer a free public online UCC search. Certified searches are run by Delaware Authorized Searchers, such as registered agents and law firms, for a fee. Order one on your exact legal name before you apply. A factor will do the same and will need any lender with a lien on your receivables to release or subordinate it."},{"q":"How fast must Delaware state agencies pay vendors?","a":"If a state agency does not pay a valid invoice within 30 days of the later of receiving it or receiving the goods or services, the vendor may bill interest of up to 12% a year, unless the agency disputes the invoice in writing within that window. Public works progress payments follow a separate 21-day schedule."}],"sources":[{"label":"Delaware Code, Title 25 Chapter 27 Subchapter II (mechanics liens, §2711)","url":"https://delcode.delaware.gov/title25/c027/sc02/index.html"},{"label":"Delaware Code, Title 6 Chapter 35 (building construction payments)","url":"https://delcode.delaware.gov/title6/c035/index.html"},{"label":"Delaware Code, Title 29 Chapter 65 (§6516 state payments)","url":"https://delcode.delaware.gov/title29/c065/index.html"},{"label":"Delaware Code, Title 29 Chapter 69 Subchapter IV (§6962 large public works)","url":"https://delcode.delaware.gov/title29/c069/sc04/index.html"},{"label":"Delaware Division of Corporations, UCC searches","url":"https://corp.delaware.gov/uccsearch/"},{"label":"Levelset, Delaware mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/delaware-lien-law-faqs/"},{"label":"Venable, state commercial financing disclosure laws (2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"medium. Statutes read on delcode.delaware.gov. The dollar threshold for 'large public works' bonds and the claim that the lien statement doubles as the enforcement action rely on secondary reading and were not pinned to a specific statute line; absence of a disclosure law is based on 2026 surveys, not a bill-by-bill search.","page_url":"/states/delaware/"},{"code":"DC","name":"District of Columbia","verifiedOn":"2026-11-12","summary":"The District has no commercial financing disclosure law, so factoring deals here carry no mandated cost disclosure. The payer base is dominated by federal agencies and the District government, which pay on 30-day clocks, and UCC-1s are recorded with the Recorder of Deeds rather than a Secretary of State.","economy":{"paragraphs":["Washington's receivables run through government. Federal agencies, the District government, and the contractors that serve them create a steady flow of invoices for IT services, consulting, security, janitorial, staffing and construction work. Military sites such as Joint Base Anacostia-Bolling, the Washington Navy Yard and Fort McNair buy facilities and support services. Universities such as Georgetown and George Washington, hospital systems such as MedStar Washington Hospital Center, trade associations, law firms and the convention and hotel sector round out the private payers.","Federal and District invoices are generally due 30 days after a proper invoice, but approval chains, contract modifications and year-end budget timing slow real payment. New contract awards create a cash gap before the first invoice clears. Hospitality and event vendors see spring and fall convention peaks, and construction follows the District's 7-day pass-through rules."],"metros":["Washington"],"industries":["Federal government contracting","IT and professional services","Security and facilities services","Construction subcontracting","Healthcare and higher education vendors","Hospitality and event services"],"federalInstallations":["Joint Base Anacostia-Bolling","Washington Navy Yard","Fort Lesley J. McNair","Marine Barracks Washington"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No District commercial financing disclosure law or pending Council bill was found as of November 2026; a March 2026 survey of state laws does not list DC.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Office of the Recorder of Deeds (Office of Tax and Revenue), acting as the Mayor's filing office under D.C. Code §28:9-501","searchUrl":"https://washington.dc.publicsearch.us/","notes":"The Recorder of Deeds' online records search is run by a private vendor and requires registration or a subscription; fixture filings also go to the Recorder of Deeds."},"publicPromptPay":{"statute":"D.C. Code §2-221.01 et seq. (§2-221.02)","days":"The contract payment date, or if none, 30 calendar days (excluding legal holidays) after receipt of a proper invoice","interest":"Interest penalty at a rate set by the Mayor's regulations (the statute sets a 1% floor); no penalty if paid by the 15th day after the due date","notes":"Prime contractors must pay subs their share, or give written notice of withholding, within 7 days of being paid by the District agency.","sourceUrl":"https://code.dccouncil.gov/us/dc/council/code/sections/2-221.02"},"privatePromptPay":{"statute":"D.C. Code §27A-101 et seq.","ownerToContractor":"If the contract sets no dates, 15 days after the payment request, occupancy permit or owner possession, whichever is earliest; if it does, 7 days after the contract date","contractorToSub":"7 days after the contractor receives payment for the sub's work","interest":"1.5% per month on undisputed late amounts, plus attorney fees to a prevailing claimant","notes":"Pay-when-paid clauses cannot waive lien or bond rights, and since 2023 a contractor cannot withhold a sub's payment to offset claims on another contract.","sourceUrl":"https://code.dccouncil.gov/us/dc/council/code/sections/27A-104"},"lien":{"statute":"D.C. Code §40-301.01 et seq.","preliminaryNotice":"Not generally required","claimDeadline":"Notice of intent recorded in the land records during construction or within 90 days after the earlier of completion or termination of the project, with a copy to the owner by certified mail within 5 business days (§40-301.02)","enforceDeadline":"Suit within 180 days after the notice of intent is recorded, plus a notice of pendency of action within 10 days of filing suit (§40-303.13)","sourceUrl":"https://code.dccouncil.gov/us/dc/council/code/sections/40-301.02"},"publicBond":{"statute":"D.C. Code §§2-201.01 and 2-201.02","threshold":"District construction contracts over $25,000","claimNotice":"Subs and suppliers with no contract with the prime must give written notice to the prime within 90 days after last furnishing labor or materials","sourceUrl":"https://code.dccouncil.gov/us/dc/council/code/sections/2-201.01"},"other":["Federal agency receivables are assigned to a factor under the federal Assignment of Claims Act, not District law.","DC's private prompt payment act gives subs a 7-day pass-through and 1.5% monthly interest, one of the shorter clocks in the region."],"faqs":[{"q":"Is invoice factoring legal in the District of Columbia?","a":"Yes. Factoring is a sale of receivables and is legal in DC. The District has no commercial financing disclosure law and no registration rule for factors. The factor records a UCC-1 with the Recorder of Deeds and notifies your customers to pay it. For federal agency invoices, the assignment follows the federal Assignment of Claims Act."},{"q":"Does DC require a disclosure for factoring deals?","a":"No. The District has not adopted a commercial financing disclosure law, so there is no required form showing total cost or APR. Ask any factor for a written list of every fee, the advance rate, reserve terms and termination costs, and compare offers on total dollar cost."},{"q":"Where do I search for UCC liens in DC?","a":"DC UCC financing statements are recorded with the Office of the Recorder of Deeds, part of the Office of Tax and Revenue. Its online records search is run by a private vendor and requires registration or a subscription. Search your exact legal name, or order a search through a filing service, before you apply."},{"q":"How fast do DC agencies have to pay contractors?","a":"Under the Quick Payment Act, District agencies generally pay by the contract date or within 30 calendar days of a proper invoice, and owe an interest penalty after that, with a 15-day grace period for most items. Prime contractors must pay subs within 7 days of being paid or give written notice of why they are withholding."}],"sources":[{"label":"D.C. Code §2-221.02, Quick Payment Act interest penalties","url":"https://code.dccouncil.gov/us/dc/council/code/sections/2-221.02"},{"label":"D.C. Code §27A-102, private prompt payments to contractors","url":"https://code.dccouncil.gov/us/dc/council/code/sections/27A-102"},{"label":"D.C. Code §27A-104, private prompt payments to subcontractors","url":"https://code.dccouncil.gov/us/dc/council/code/sections/27A-104"},{"label":"D.C. Code §40-301.02, mechanics lien notice of intent","url":"https://code.dccouncil.gov/us/dc/council/code/sections/40-301.02"},{"label":"D.C. Code §40-303.13, lien enforcement deadline","url":"https://code.dccouncil.gov/us/dc/council/code/sections/40-303.13"},{"label":"D.C. Code §2-201.01, public contractor bonds","url":"https://code.dccouncil.gov/us/dc/council/code/sections/2-201.01"},{"label":"D.C. Code §2-201.02, payment bond claims","url":"https://code.dccouncil.gov/us/dc/council/code/sections/2-201.02"},{"label":"D.C. Code §28:9-501, UCC filing office","url":"https://code.dccouncil.gov/us/dc/council/code/sections/28:9-501"},{"label":"DC Recorder of Deeds online public search","url":"https://washington.dc.publicsearch.us/"},{"label":"Venable, state commercial financing disclosure laws (2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high on statutes (read on code.dccouncil.gov). Medium on UCC office: the Code names the Mayor as filing office and secondary sources say this is delegated to the Recorder of Deeds; the OTR web pages blocked automated access. The exact Quick Payment Act interest rate in the Mayor's regulations was not confirmed.","page_url":"/states/district-of-columbia/"},{"code":"FL","name":"Florida","verifiedOn":"2026-11-12","summary":"Florida requires a written cost disclosure on commercial financing of $500,000 or less, and the law expressly covers accounts receivable purchases, so most smaller factoring facilities here come with a state disclosure (no APR required). UCC-1s are filed with the Florida Secured Transaction Registry, and the payer base mixes counties, school districts and military bases with GCs, hospital systems, theme parks and cruise lines.","economy":{"paragraphs":["Florida's factoring demand comes from businesses that carry payroll or materials for weeks before a large, slow customer pays. Public payers include counties, school districts, port authorities, state agencies and military installations such as MacDill Air Force Base, Eglin Air Force Base, Naval Air Station Jacksonville and the Space Coast's Cape Canaveral Space Force Station. Private payers include general contractors, hospital systems, Orlando's theme park resorts, cruise lines at PortMiami and Port Everglades, and national distributors moving freight through JAXPORT and Port Tampa Bay. Construction subs, staffing firms, aerospace suppliers and marine services firms factor most.","Local governments generally must pay construction invoices within 20 business days (25 when an agent must approve), and state agencies owe interest after 40 days. Private payers commonly run net 30 to net 90. Hurricane season (June 1 to November 30) drives storm-recovery work and claims-driven delays, and the winter tourist season ramps hospitality and event vendors."],"metros":["Miami","Tampa","Orlando","Jacksonville","Fort Lauderdale"],"industries":["Construction subcontracting","Staffing","Aerospace and defense suppliers","Wholesale distribution and ports","Marine services","Tourism-services vendors"],"federalInstallations":["MacDill Air Force Base","Eglin Air Force Base","Naval Air Station Jacksonville","Naval Station Mayport","Cape Canaveral Space Force Station","Naval Air Station Pensacola"]},"disclosure":{"status":"in_effect","name":"Florida Commercial Financing Disclosure Law","citation":"Fla. Stat. §§559.961 to 559.9615","billOrAct":"HB 1353 (2023), ch. 2023-290, Laws of Florida","effective":"2024-01-01","threshold":"Commercial financing transactions of $500,000 or less","coversFactoring":true,"aprRequired":false,"registration":null,"exemptions":"Federally insured depository institutions and their affiliates, Farm Credit lenders, licensed money transmitters, real-estate-secured deals, leases, purchase-money and vendor financing, providers doing 5 or fewer Florida deals in 12 months, and deals over $500,000.","enforcement":"Attorney General has exclusive authority; fines of $500 per incident (capped at $20,000), or $1,000 per incident (capped at $50,000) after a prior written notice; no private right of action.","notes":"For a factoring facility, one disclosure based on an example $10,000 receivable satisfies the law, and no new disclosure is needed each time invoices are purchased. Required figures are dollar amounts: funds provided, funds disbursed, total to be paid, total dollar cost, payment terms and prepayment costs.","sourceUrl":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0500-0599/0559/Sections/0559.9612.html","thresholdUsd":500000},"ucc":{"office":"Florida Secured Transaction Registry (the state's central UCC filing office, operated under contract with the Florida Department of State)","searchUrl":"https://www.floridaucc.com/","notes":"Ordinary business collateral is filed centrally, not with counties; fixture filings go to county real property records."},"publicPromptPay":{"statute":"Fla. Stat. §215.422 (state agencies); §§218.70 to 218.80 (Local Government Prompt Payment Act)","days":"State agencies owe interest if a warrant is not issued within 40 days after receipt of the invoice and receipt, inspection and approval of the goods or services; local governments pay non-construction purchases within 45 days and construction invoices within 20 business days (25 if an agent must approve)","interest":"State agencies: rate set under Fla. Stat. §55.03; local non-construction payments: 1% per month","notes":"On local government construction jobs, the prime must pay subs and suppliers within 10 days of receiving payment (§218.735).","sourceUrl":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0218/Sections/0218.735.html"},"privatePromptPay":{"statute":"Fla. Stat. §715.12 (Construction Contract Prompt Payment Law); §713.346","ownerToContractor":"When payment is due under the contract and a written payment request (with required affidavits or waivers) has been made","contractorToSub":"Once the contractor has been paid for the sub's work and the sub's payment is due under the subcontract","interest":"Judgment rate under §55.03 plus 12% a year, starting the 14th day after payment is due","notes":"§713.346 adds remedies when undisputed amounts go unpaid more than 30 days after payment is received or due, and knowing failure to pay is misapplication of construction funds.","sourceUrl":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0715/Sections/0715.12.html"},"lien":{"statute":"Fla. Stat. Ch. 713, Part I (Construction Lien Law)","preliminaryNotice":"Lienors not in privity with the owner must serve a Notice to Owner before starting or within 45 days after first furnishing, and before the owner's final payment (§713.06)","claimDeadline":"Generally 90 days after final furnishing of labor, services or materials (§713.08)","enforceDeadline":"Generally 1 year after the claim of lien is recorded, unless shortened by the owner (§713.22)","sourceUrl":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0713/Sections/0713.08.html"},"publicBond":{"statute":"Fla. Stat. §255.05","threshold":"Required on public works generally; state contracts of $100,000 or less are exempt, and local governments may exempt contracts of $200,000 or less","claimNotice":"Claimants not in privity with the contractor must serve a notice to contractor within 45 days of first furnishing; claimants other than laborers must serve a notice of nonpayment no later than 90 days after final furnishing","sourceUrl":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0255/Sections/0255.05.html"},"other":["Florida's disclosure law treats a provider's characterization of an accounts receivable purchase as a sale as conclusive that it is not a loan for usury purposes (§559.9611).","Brokers arranging Florida commercial financing may not collect advance fees (§559.9614)."],"faqs":[{"q":"Is invoice factoring legal in Florida?","a":"Yes. Factoring is legal in Florida, and the state's Commercial Financing Disclosure Law expressly covers accounts receivable purchases. For deals of $500K or less from a non-bank provider, you should get a written disclosure of total dollar cost before closing. The law also says a provider's treatment of a receivables purchase as a sale is conclusive that it is not a loan."},{"q":"Does Florida require a disclosure for factoring deals?","a":"Yes, for most deals of $500,000 or less consummated since January 1, 2024. The disclosure lists funds provided, funds disbursed, total to be paid, total dollar cost, payment terms and prepayment costs. No APR is required. Banks, providers doing 5 or fewer Florida deals a year and deals over $500K are exempt. The Attorney General enforces it."},{"q":"Where do I search for UCC liens in Florida?","a":"Search the Florida Secured Transaction Registry at floridaucc.com, the state's central UCC filing office. Search your exact legal name. A factor will run the same search and will need any lender with a lien on your receivables, such as a bank, SBA lender or merchant cash advance provider, to release or subordinate it before funding."},{"q":"How fast do Florida counties and school districts pay construction invoices?","a":"Under the Local Government Prompt Payment Act, payment on construction services is generally due 20 business days after a proper payment request is stamped received, or 25 business days when an agent such as an architect must approve it. The prime then has 10 days to pay its subs and suppliers."}],"sources":[{"label":"Fla. Stat. §559.9611, definitions (accounts receivable purchase transaction)","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0500-0599/0559/Sections/0559.9611.html"},{"label":"Fla. Stat. §559.9612, scope and exemptions","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0500-0599/0559/Sections/0559.9612.html"},{"label":"Fla. Stat. §559.9613, required disclosures","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0500-0599/0559/Sections/0559.9613.html"},{"label":"Fla. Stat. §559.9615, enforcement","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0500-0599/0559/Sections/0559.9615.html"},{"label":"Fla. Stat. §713.08, claim of lien","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0713/Sections/0713.08.html"},{"label":"Fla. Stat. §713.22, duration of lien","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0713/Sections/0713.22.html"},{"label":"Fla. Stat. §255.05, public construction bonds","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0255/Sections/0255.05.html"},{"label":"Fla. Stat. §218.735, local government construction payments","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0218/Sections/0218.735.html"},{"label":"Fla. Stat. §715.12, Construction Contract Prompt Payment Law","url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0715/Sections/0715.12.html"},{"label":"Florida Secured Transaction Registry","url":"https://www.floridaucc.com/"}],"confidence":"high. All statutes read on leg.state.fl.us and consistent with the existing Florida location page; no corrections needed. No 2025 or 2026 amendment to the disclosure law was found. Bill number HB 1353 is from secondary sources; the chapter law (2023-290) is from the statute history.","page_url":"/florida/"},{"code":"GA","name":"Georgia","verifiedOn":"2026-11-12","summary":"Georgia requires a written cost disclosure on commercial financing of $500,000 or less, and the law expressly covers accounts receivable purchases, so most smaller factoring facilities come with a state disclosure (no APR required). Georgia is unusual on UCC filings: they go to any county Clerk of Superior Court and are indexed statewide by the GSCCCA.","economy":{"paragraphs":["Georgia businesses that factor are mostly suppliers, subcontractors and service firms selling to large, slow payers. Freight through the Port of Savannah feeds trucking, warehousing and distribution firms. Manufacturing suppliers serve automotive and aerospace plants such as the Hyundai Metaplant near Savannah, Gulfstream in Savannah and Lockheed Martin in Marietta. Atlanta's corporate headquarters, including Delta, Home Depot, Coca-Cola and UPS, and its airport buy staffing, IT and facilities services. Federal installations such as Fort Stewart, Robins Air Force Base, Moody Air Force Base and Naval Submarine Base Kings Bay pay a deep contractor base.","Corporate and OEM payers commonly run net 45 to net 90 terms. On construction, the Prompt Pay Act generally gives owners 15 days and contractors 10 days, but contracts can set different terms. Poultry, carpet and agriculture follow their own production cycles, and the state's data center and battery plant buildout has kept industrial construction subs busy."],"metros":["Atlanta","Savannah","Augusta","Macon","Columbus"],"industries":["Manufacturing suppliers","Wholesale and distribution","Staffing","Government contracting","Construction subcontracting","Security, janitorial and environmental services"],"federalInstallations":["Fort Stewart","Robins Air Force Base","Moody Air Force Base","Naval Submarine Base Kings Bay"]},"disclosure":{"status":"in_effect","name":"Georgia commercial financing disclosure law","citation":"O.C.G.A. §10-1-393.18","billOrAct":"SB 90 (2023)","effective":"2024-01-01","threshold":"Commercial financing transactions of $500,000 or less","coversFactoring":true,"aprRequired":false,"registration":null,"exemptions":"Federally insured depository institutions and their affiliates, Farm Credit lenders, licensed money transmitters, providers doing 5 or fewer Georgia deals in 12 months, real-estate-secured deals, leases, purchase-money and vendor financing, and deals over $500,000.","enforcement":"Attorney General; fines of $500 per violation (capped at $20,000) and $1,000 per repeat violation (capped at $50,000); no private right of action.","notes":"Disclosures are dollar figures: funds provided, funds disbursed, total to be paid, total dollar cost, payment terms and prepayment costs, given once before closing. Brokers may not charge advance fees.","sourceUrl":"https://www.legis.ga.gov/api/legislation/document/20232024/215610","thresholdUsd":500000},"ucc":{"office":"Clerk of Superior Court in any of Georgia's 159 counties, indexed statewide by the Georgia Superior Court Clerks' Cooperative Authority (GSCCCA)","searchUrl":"https://search.gsccca.org/UCC_Search/","notes":"Filings are not made with the Secretary of State; one GSCCCA search covers every county."},"publicPromptPay":{"statute":"O.C.G.A. §13-11-1 et seq. (Prompt Pay Act, which applies to public and private construction)","days":"On construction, generally 15 days after the owner receives a pay request; subs paid within 10 days after the contractor receives payment","interest":"1% per month, unless the contract sets a different rate","notes":"Public works in counties under 10,000 people and cities under 2,500 are excluded. No general statute for state-agency payment of non-construction vendors was verified.","sourceUrl":"https://www.levelset.com/blog/georgia-prompt-payment-act/"},"privatePromptPay":{"statute":"O.C.G.A. §13-11-1 et seq. (Prompt Pay Act)","ownerToContractor":"15 days after receipt of a pay request","contractorToSub":"10 days after the contractor receives payment","interest":"1% per month, if the payer was notified of the rate with the pay request; contract terms can set a different rate","notes":"Parties can agree to different payment terms, which generally control. Private residential projects of 12 or fewer units are excluded.","sourceUrl":"https://www.levelset.com/blog/georgia-prompt-payment-act/"},"lien":{"statute":"O.C.G.A. §44-14-360 et seq. (§44-14-361.1)","preliminaryNotice":"When a Notice of Commencement is filed, lower-tier subs and suppliers must serve a Notice to Contractor within 30 days of the later of first furnishing or the Notice of Commencement filing (§44-14-361.5)","claimDeadline":"Generally 90 days after last furnishing labor, services or materials, filed with the county Clerk of Superior Court, with a copy to the owner within 2 business days","enforceDeadline":"Suit within 365 days after filing the lien, plus a notice of commencement of the action within 30 days after filing suit","sourceUrl":"https://www.levelset.com/mechanics-lien/georgia-lien-law-faqs/"},"publicBond":{"statute":"O.C.G.A. §13-10-60 et seq. (state); §36-91-90 et seq. (local)","threshold":"Public works contracts over $250,000 (raised by HB 137, effective July 1, 2025)","claimNotice":"If a Notice of Commencement was filed, a 30-day notice to contractor from first furnishing; if not, written notice within 90 days after last furnishing; suit within 1 year after completion and acceptance","sourceUrl":"https://www.levelset.com/bond-claim/georgia-bond-claim-faqs/"},"other":["Georgia UCC filings are made with any county Clerk of Superior Court and searched statewide through the GSCCCA, not the Secretary of State.","Since July 1, 2025, Georgia requires public payment bonds only on contracts over $250,000, so subs on smaller public jobs may have no bond to claim against."],"faqs":[{"q":"Is invoice factoring legal in Georgia?","a":"Yes. Factoring is legal in Georgia, and the state's commercial financing disclosure law expressly covers accounts receivable purchases. For deals of $500K or less from a non-bank provider, you should get a written disclosure of total dollar cost before closing. The factor will file a UCC-1 with a county Clerk of Superior Court, indexed statewide, and notify your customers to pay it."},{"q":"Does Georgia require a disclosure for factoring deals?","a":"Yes, for most deals of $500,000 or less consummated since January 1, 2024. The disclosure shows funds provided, funds disbursed, total to be paid, total dollar cost, payment terms and prepayment costs. No APR is required. Banks, providers doing 5 or fewer Georgia deals a year and deals over $500K are exempt. The Attorney General enforces it."},{"q":"Where do I search for UCC liens in Georgia?","a":"Search the GSCCCA statewide UCC index at search.gsccca.org. Georgia UCC-1s are filed with any county Clerk of Superior Court, not the Secretary of State, and every filing feeds the single statewide index. Search your exact legal name and clear any old filings from paid-off lenders before you apply."},{"q":"Do Georgia public jobs still require payment bonds for subs?","a":"Yes, but only on larger contracts. Since July 1, 2025, state and local public works contracts generally require a payment bond when the estimated amount exceeds $250,000. Below that, the agency may still require one. Check the bond before you start, because your notice deadlines (30 or 90 days) depend on whether a Notice of Commencement was filed."}],"sources":[{"label":"Georgia General Assembly, SB 90 (2023) text","url":"https://www.legis.ga.gov/api/legislation/document/20232024/215610"},{"label":"Buchalter, Georgia commercial financing disclosure law summary","url":"https://www.buchalter.com/insights/georgia-enacts-commercial-financing-disclosure-law-mandatory-compliance-date-january-1-2024/"},{"label":"Orrick, Georgia enacts commercial financing disclosure requirements","url":"https://infobytes.orrick.com/2023-05-25/georgia-enacts-commercial-financing-disclosure-requirements/"},{"label":"GSCCCA UCC search","url":"https://search.gsccca.org/UCC_Search/"},{"label":"Levelset, Georgia mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/georgia-lien-law-faqs/"},{"label":"Levelset, Georgia bond claim FAQs","url":"https://www.levelset.com/bond-claim/georgia-bond-claim-faqs/"},{"label":"Levelset, Georgia Prompt Pay Act","url":"https://www.levelset.com/blog/georgia-prompt-payment-act/"},{"label":"Venable, state commercial financing disclosure laws (2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"medium. Consistent with the existing Georgia location page; no corrections, but the bond threshold rose to $250,000 (HB 137, July 1, 2025), which the page does not mention. The disclosure terms come from the Senate-passed SB 90 text plus law firm summaries; the final enacted text was not opened. One summary (Buchalter) says an APR label and a healthcare personal-injury factoring carve-out apply, which the bill text read did not show. Lien and bond deadlines rely on Levelset, not the O.C.G.A. text.","page_url":"/southeast/georgia/"},{"code":"HI","name":"Hawaii","verifiedOn":"2026-11-12","summary":"Hawaii has no commercial financing disclosure law, so factoring deals here carry no mandated cost disclosure. UCC-1s go to the Bureau of Conveyances (Hawaii has no Secretary of State), and the payer base leans on military installations, state and county government, hotels and hospital systems.","economy":{"paragraphs":["Hawaii's B2B receivables are shaped by the military and by tourism. Joint Base Pearl Harbor-Hickam, Pearl Harbor Naval Shipyard, Schofield Barracks, Marine Corps Base Hawaii and the Pacific Missile Range Facility on Kauai buy construction, ship repair, facilities and IT services. The state and four counties pay a large contractor base under a 30-day rule. Hotel and resort operators buy food, linen, maintenance and staffing services, and hospital systems such as Queen's Health Systems and Hawaii Pacific Health pay medical staffing and supply vendors. Honolulu Harbor is the main gateway for almost everything sold in the islands.","Because nearly all goods arrive by ship, distributors carry inventory longer than mainland peers before a buyer pays. Federal and state payers generally pay within 30 days of a proper invoice, but approval chains add time. Tourism demand rises in winter and summer, and construction subs on public jobs must be paid within 10 days of the prime receiving funds."],"metros":["Honolulu","Hilo","Kahului-Wailuku","Kailua-Kona","Lihue"],"industries":["Defense and military construction","Ship repair and marine services","Hospitality and tourism vendors","Food and goods distribution","Healthcare staffing","Construction subcontracting"],"federalInstallations":["Joint Base Pearl Harbor-Hickam","Pearl Harbor Naval Shipyard","Schofield Barracks","Marine Corps Base Hawaii","Pacific Missile Range Facility"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Hawaii commercial financing disclosure law was found as of November 2026; a March 2026 survey of state laws does not list Hawaii, and 2025 to 2026 small business financing bills found were loan and credit programs, not disclosure rules.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Bureau of Conveyances, Department of Land and Natural Resources (HRS §490:9-501)","searchUrl":"https://bocdataext.hi.wcicloud.com","notes":"Hawaii has no Secretary of State; the Bureau of Conveyances handles UCC filings, and an official UCC11 search costs $25 per request plus $5 per creditor found."},"publicPromptPay":{"statute":"HRS §103-10","days":"No later than 30 calendar days after receipt of a proper statement or satisfactory delivery or performance, whichever is later","interest":"Prime rate (as posted in the Wall Street Journal) plus 2%, from the 30th day","notes":"Applies to state agencies and counties. On public construction, contractors must pay subs within 10 days of receiving payment, with a 1.5% monthly penalty for late payment (HRS §103-10.5).","sourceUrl":"https://data.capitol.hawaii.gov/hrscurrent/Vol02_Ch0046-0115/HRS0103/HRS_0103-0010.htm"},"privatePromptPay":{"statute":"HRS §444-25","ownerToContractor":null,"contractorToSub":"10 days after the later of a sub's invoice with required backup or the contractor's receipt of payment from the owner","interest":"1.5% per month from the date payment is due","notes":"No statutory owner-to-contractor deadline was found for private jobs. If payment depends on escrow or trust funds, the contractor must say so in its bid solicitation.","sourceUrl":"https://data.capitol.hawaii.gov/hrscurrent/Vol10_Ch0436-0474/HRS0444/HRS_0444-0025.htm"},"lien":{"statute":"HRS §507-41 et seq.","preliminaryNotice":"Not generally required","claimDeadline":"Application for lien filed in circuit court no later than 45 days after the date of completion of the improvement (HRS §507-43); a court hearing on probable cause follows","enforceDeadline":"Within 3 months after the court enters the order directing the lien to attach","sourceUrl":"https://data.capitol.hawaii.gov/hrscurrent/Vol12_Ch0501-0588/HRS0507/HRS_0507-0043.htm"},"publicBond":{"statute":"HRS §103D-324","threshold":"Construction contracts over $25,000","claimNotice":"Written notice to the contractor and surety within 90 days after last furnishing labor or materials; suit within 1 year","sourceUrl":"https://data.capitol.hawaii.gov/hrscurrent/Vol02_Ch0046-0115/HRS0103D/HRS_0103D-0324.htm"},"other":["A Hawaii mechanics lien does not attach until a circuit court finds probable cause, so lien rights are slower and costlier to use than in most states.","Search the Bureau of Conveyances, not a Secretary of State, for UCC filings against a Hawaii business."],"faqs":[{"q":"Is invoice factoring legal in Hawaii?","a":"Yes. Factoring is a sale of receivables and is legal in Hawaii. The state has no commercial financing disclosure law and no registration rule for factors. The factor files a UCC-1 with the Bureau of Conveyances and notifies your customers to pay it. For federal customers such as Pearl Harbor commands, the assignment follows the federal Assignment of Claims Act."},{"q":"Does Hawaii require a disclosure for factoring deals?","a":"No. Hawaii has not adopted a commercial financing disclosure law, so there is no state form showing total cost or APR. Ask any factor for a written list of every fee, the advance rate, reserves, term and termination costs, and compare offers on total dollar cost over your real collection time."},{"q":"Where do I search for UCC liens in Hawaii?","a":"UCC filings are handled by the Bureau of Conveyances in the Department of Land and Natural Resources, because Hawaii has no Secretary of State. You can search recorded documents online through the Bureau's portal or request an official UCC11 search for $25 plus $5 per creditor found. Search your exact legal name before you apply."},{"q":"How fast must Hawaii state and county agencies pay?","a":"Hawaii law generally requires state agencies and counties to pay within 30 calendar days of a proper statement or satisfactory delivery, whichever is later. After that, the vendor is owed interest at the prime rate plus 2%. Disputes, labor disputes and some federal-funding conditions pause the clock."}],"sources":[{"label":"HRS §103-10, payment for goods and services","url":"https://data.capitol.hawaii.gov/hrscurrent/Vol02_Ch0046-0115/HRS0103/HRS_0103-0010.htm"},{"label":"HRS §103-10.5, prompt payment on public contracts","url":"https://data.capitol.hawaii.gov/hrscurrent/Vol02_Ch0046-0115/HRS0103/HRS_0103-0010_0005.htm"},{"label":"HRS §103D-324, performance and payment bonds","url":"https://data.capitol.hawaii.gov/hrscurrent/Vol02_Ch0046-0115/HRS0103D/HRS_0103D-0324.htm"},{"label":"HRS §507-43, mechanics lien application","url":"https://data.capitol.hawaii.gov/hrscurrent/Vol12_Ch0501-0588/HRS0507/HRS_0507-0043.htm"},{"label":"HRS §444-25, contractor payment to subcontractors","url":"https://data.capitol.hawaii.gov/hrscurrent/Vol10_Ch0436-0474/HRS0444/HRS_0444-0025.htm"},{"label":"HRS §490:9-501, UCC filing office","url":"https://data.capitol.hawaii.gov/hrscurrent/Vol11_Ch0476-0490/HRS0490/HRS_0490-0009-0501.htm"},{"label":"Hawaii Bureau of Conveyances FAQs","url":"https://dlnr.hawaii.gov/boc/faqs/"},{"label":"Levelset, Hawaii mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/hawaii-lien-law-faqs/"},{"label":"Venable, state commercial financing disclosure laws (2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high on statutes (read on capitol.hawaii.gov). Medium on the search URL: the Bureau's FAQ points to it for recorded documents but does not say outright that UCC filings are searchable there. Absence of a disclosure law is based on 2026 surveys and a legislature search, not a bill-by-bill review.","page_url":"/states/hawaii/"},{"code":"ID","name":"Idaho","verifiedOn":"2026-11-12","summary":"Idaho has no commercial financing disclosure law, so factoring deals here are governed by contract and the UCC rather than a state disclosure form. Liens are filed with the UCC Division of the Idaho Secretary of State, which also runs a USDA-certified central filing system for farm products, a big deal in a state built on crops and dairy.","economy":{"paragraphs":["Idaho receivables come from agriculture, food processing, technology manufacturing and federal work. Potato, dairy and sugar beet growers sell to processors and co-ops that pay on set cycles. Boise is home to Micron Technology and to the headquarters of Albertsons and J.R. Simplot, which buy from hundreds of local suppliers. The Idaho National Laboratory near Idaho Falls, run for the U.S. Department of Energy, drives a large base of engineering, construction and staffing contractors. Mountain Home Air Force Base adds defense service and supply work in the southwest.","Food and farm receivables are seasonal: harvest and processing run from late summer through winter, so working capital peaks when growers and haulers are waiting on processor payments. State agencies and taxing districts must pay within 60 days of a bill unless the contract says otherwise, and federal contractors at INL and Mountain Home are paid under federal prompt payment rules. Construction suppliers in the fast-growing Treasure Valley often wait 45 to 90 days."],"metros":["Boise","Nampa","Meridian","Idaho Falls","Pocatello","Coeur d'Alene","Twin Falls"],"industries":["Food processing","Agriculture and dairy","Semiconductor manufacturing","Construction","Trucking and logistics","Energy and nuclear research services"],"federalInstallations":["Mountain Home Air Force Base","Idaho National Laboratory (U.S. Department of Energy)","Gowen Field (Idaho National Guard)"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Idaho commercial financing disclosure law was found as of November 2026; state trackers dated mid and late 2026 list none. Factoring terms are set by the contract.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"UCC Division, Idaho Secretary of State (Boise)","searchUrl":"https://sosbiz.idaho.gov/search/ucc","notes":"Filings and searches run through the SOSBiz portal; non-certified searches cost $3, paper filings add a $20 manual fee, and farm products liens use separate UCC-1F forms in Idaho's USDA-certified central filing system."},"publicPromptPay":{"statute":"Idaho Code §67-2302","days":"60 calendar days after receipt of the bill, unless the contract sets a longer period (45 days for each completed item on partial deliveries)","interest":"Contract penalty if one is set; otherwise interest accrues automatically on overdue bills at the rate tied to Idaho Code §63-3045 (federal midterm rate plus 2%), compounded monthly","notes":"Applies to all bills owed by the state and by any taxing district, including goods, services and construction. The agency must flag a defective invoice within 10 days. A vendor who wins a suit to collect interest can recover attorney fees.","sourceUrl":"https://www.levelset.com/prompt-payment/idaho-prompt-payment-faqs/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Idaho has no prompt payment statute for private construction; payment timing and late charges are set by the contract.","sourceUrl":"https://www.levelset.com/prompt-payment/idaho-prompt-payment-faqs/"},"lien":{"statute":"Idaho Code §45-501 et seq.","preliminaryNotice":"Not generally required for subcontractors or suppliers. General contractors on residential jobs over $2,000 must give the owner a disclosure before contracting (Idaho Code §45-525).","claimDeadline":"Generally 90 days after last furnishing labor or materials (Idaho Code §45-507), recorded in the county where the property sits, with a copy served on the owner within days of filing","enforceDeadline":"Generally 6 months after the lien is filed (Idaho Code §45-510)","sourceUrl":"https://www.levelset.com/mechanics-lien/idaho-lien-law-faqs/"},"publicBond":{"statute":"Idaho Code §54-1925 to §54-1930","threshold":"Public works contracts of $50,000 or more; payment bond of at least 85% of the contract amount","claimNotice":"Claimants with no direct contract with the prime contractor must give written notice to the prime by registered or certified mail within 90 days after their last labor or materials; suit must be filed within 1 year","sourceUrl":"https://legislature.idaho.gov/statutesrules/idstat/Title54/T54CH19/SECT54-1927"},"other":["Idaho's prompt payment statute covers counties, cities, school districts and other taxing districts as well as state agencies, so local government receivables carry the same 60-day rule and automatic interest.","Liens on crops and livestock are filed on separate farm products forms (UCC-1F) in a USDA-certified central filing system that buyers can subscribe to, so a factor buying receivables from a grower or processor should search both the standard and farm products records."],"faqs":[{"q":"Is invoice factoring legal in Idaho?","a":"Yes. Factoring is a sale of receivables governed by Idaho's version of UCC Article 9, and Idaho has no special license or disclosure rule for commercial factoring. The factor usually files a UCC-1 with the Idaho Secretary of State and the business's customers pay the factor directly. Terms such as the advance rate and fees are set by the contract."},{"q":"Does Idaho require a disclosure for factoring deals?","a":"No. As of November 2026 Idaho has not passed a commercial financing disclosure law like those in California, New York, Utah or Kansas. A factor is not required to give an Idaho business a state form showing total cost or APR. Ask for a written fee schedule anyway so you can compare offers."},{"q":"Where do I search for UCC liens in Idaho?","a":"Use the Idaho Secretary of State's SOSBiz portal at sosbiz.idaho.gov/search/ucc. A non-certified search costs $3. If you sell crops, livestock or processed farm goods, also check the farm products filings, which Idaho keeps in a separate USDA-certified central filing system. An existing blanket lien from a bank will need a release or intercreditor agreement before factoring."},{"q":"How fast do Idaho state agencies and school districts have to pay my invoices?","a":"Under Idaho Code §67-2302, the state and every taxing district must pay a proper bill within 60 calendar days of receipt unless the contract sets a longer period. If they pay late, interest accrues automatically at a rate tied to the federal midterm rate. That 60-day wait is a common reason Idaho vendors factor public sector invoices."}],"sources":[{"label":"Idaho Secretary of State, UCC Division","url":"https://sos.idaho.gov/ucc/"},{"label":"Idaho Code §54-1926, public works payment bonds","url":"https://legislature.idaho.gov/statutesrules/idstat/Title54/T54CH19/SECT54-1926/"},{"label":"Idaho Code §54-1927, bond claims and suit deadline","url":"https://legislature.idaho.gov/statutesrules/idstat/Title54/T54CH19/SECT54-1927"},{"label":"Levelset, Idaho prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/idaho-prompt-payment-faqs/"},{"label":"Levelset, Idaho mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/idaho-lien-law-faqs/"},{"label":"J.T. Milton, MCA and disclosure laws by state (July 2026)","url":"https://jtmilton.com/mca-laws-by-state/"},{"label":"Elite Funders, state commercial financing law tracker (September 2026)","url":"https://elitefunders.com/resources/state-commercial-financing-laws/"}],"confidence":"high: disclosure, UCC, prompt pay and bond verified on official or statute-text sources; lien deadlines are medium (Levelset summary of Idaho Code, not opened on the legislature site); economy paragraphs rely on well-known employers rather than a cited source.","page_url":"/states/idaho/"},{"code":"IL","name":"Illinois","verifiedOn":"2026-11-12","summary":"Illinois has no commercial financing disclosure law in effect: the proposed Small Business Financing Transparency Act, which would have reached factoring, stalled in the 104th General Assembly. The bigger factor for Illinois businesses is the payer base, since state agencies get 90 days to pay a proper invoice before interest starts, and UCC-1s are filed centrally with the Illinois Secretary of State.","economy":{"paragraphs":["Chicago is the country's main rail hub and one of its largest freight and air cargo markets, so trucking, warehousing and freight brokerage firms generate a large share of Illinois receivables. Manufacturers sell to big corporate buyers across the state, such as Deere & Company in Moline, ADM in Chicago and Abbott in the north suburbs, along with food processors and packaging plants. State Farm in Bloomington anchors insurance services downstate. Federal payers include Scott Air Force Base near Belleville, Naval Station Great Lakes north of Chicago and the Rock Island Arsenal on the Mississippi.","Payment cycles here are often long. State agencies have 90 days to pay a proper bill, and local governments get 30 days to approve and 30 more to pay. Hospital systems and large retailers commonly push net 60 or longer. Agricultural suppliers and grain haulers see harvest peaks in the fall, and construction trades slow in winter."],"metros":["Chicago","Aurora","Naperville","Rockford","Joliet","Peoria","Springfield","Champaign-Urbana","Quad Cities (Moline and Rock Island)"],"industries":["Freight, rail and logistics","Food processing","Industrial and agricultural equipment manufacturing","Healthcare services","Construction","Staffing and professional services"],"federalInstallations":["Scott Air Force Base","Naval Station Great Lakes","Rock Island Arsenal"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Versions of a Small Business Financing Transparency Act (SB 260, HB 2595, HB 3477 in 2025) would have required disclosures, including for factoring, but none was enacted as of November 2026; HB 3477 was sent back to the Rules Committee in April 2025.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Illinois Secretary of State, Department of Business Services (UCC Division), Springfield","searchUrl":null,"notes":"The Secretary of State runs a separate online UCC search from its business entity search; we could not open the official search page to confirm its current address or fee."},"publicPromptPay":{"statute":"State Prompt Payment Act, 30 ILCS 540","days":"90 days after receipt of a proper bill or invoice (fiscal year 2012 and later)","interest":"1% per month (0.033% per day) after the 90-day period; interest under $5 is not paid","notes":"Local governments fall under the Local Government Prompt Payment Act (50 ILCS 505): approve within 30 days and pay within 30 days after approval, with 1% per month interest after that. Contractors paid by the state must pay subs within 15 days (10 business days or 15 calendar days, whichever is first).","sourceUrl":"https://www.levelset.com/prompt-payment/illinois-prompt-payment-faqs/"},"privatePromptPay":{"statute":"Contractor Prompt Payment Act, 815 ILCS 603","ownerToContractor":"15 calendar days after the owner approves a payment application; it is deemed approved 25 days after receipt unless the owner gives written notice of what it is withholding and why","contractorToSub":"15 calendar days after the contractor receives each payment","interest":"10% per year on late amounts","notes":"An unpaid party may suspend work after 7 days' written notice. Interest cannot duplicate interest recovered under the Mechanics Lien Act.","sourceUrl":"https://www.levelset.com/prompt-payment/illinois-prompt-payment-faqs/"},"lien":{"statute":"Mechanics Lien Act, 770 ILCS 60","preliminaryNotice":"Generally not required, except on owner-occupied single-family homes, where subs must notify the owner within 60 days of first furnishing","claimDeadline":"Subcontractors generally must serve notice on the owner within 90 days after last furnishing; recording within 4 months after completion makes the lien effective against lenders and later buyers, while later filings (up to 2 years) bind only the owner","enforceDeadline":"2 years after completion of the work, or 30 days after receiving an owner's demand to sue","sourceUrl":"https://www.levelset.com/mechanics-lien/illinois-lien-law-faqs/"},"publicBond":{"statute":"Public Construction Bond Act, 30 ILCS 550","threshold":"Generally public works costing over $50,000; an amendment effective January 1, 2024 raised the threshold to $150,000 for school districts and other local public bodies until January 1, 2029","claimNotice":"Verified notice to the public body within 180 days after last furnishing, with a copy to the contractor within 10 days; suit within 1 year after last furnishing","sourceUrl":"https://www.levelset.com/bond-claim/illinois-bond-claim-faqs/"},"other":["Illinois state agencies have 90 days to pay a proper invoice before interest of 1% per month starts, one of the longest statutory payment windows in the country, which makes state vendor receivables a common factoring use case.","A 2026 bill (HB 5042) would raise public bond thresholds to $5MM for most state and local work and $10MM for transportation projects; subcontractor groups oppose it, and we could not confirm it passed."],"faqs":[{"q":"Is invoice factoring legal in Illinois?","a":"Yes. Factoring is the sale of accounts receivable and is governed by Illinois' version of UCC Article 9. Illinois does not license commercial factors or require a state disclosure form. The factor typically files a UCC-1 with the Illinois Secretary of State and has your customers pay it directly, under terms set by your factoring agreement."},{"q":"Does Illinois require a disclosure for factoring deals?","a":"Not as of November 2026. Lawmakers introduced a Small Business Financing Transparency Act in 2025 (SB 260, HB 2595 and HB 3477) that would have covered factoring and required cost disclosures, but none of the bills passed. If a version is enacted later, it would likely apply to smaller deals, so check again before signing."},{"q":"Where do I search for UCC liens in Illinois?","a":"UCC financing statements are filed centrally with the Illinois Secretary of State, Department of Business Services. Its online UCC search is separate from the business entity search, so a clean entity record does not mean there are no liens. Fixture filings on real estate go to the county recorder."},{"q":"How long can the State of Illinois take to pay my invoices?","a":"Under the State Prompt Payment Act, an agency has 90 days from receipt of a proper bill to pay before interest of 1% per month begins. Local governments get 30 days to approve a bill and 30 more to pay it. Many Illinois vendors factor government invoices to bridge that 60 to 90 day gap."}],"sources":[{"label":"Levelset, Illinois prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/illinois-prompt-payment-faqs/"},{"label":"Levelset, Illinois mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/illinois-lien-law-faqs/"},{"label":"Levelset, Illinois bond claim FAQs","url":"https://www.levelset.com/bond-claim/illinois-bond-claim-faqs/"},{"label":"Franczek, Public Construction Bond Act threshold change","url":"https://franczek.com/blog/new-laws-will-impact-summer-construction-projects"},{"label":"American Subcontractors Association, opposition to IL HB 5042 (March 2026)","url":"https://www.asaonline.com/2026/03/26/asa-opposes-il-house-bonding-bill/"},{"label":"NASBP, comment on IL HB 5042","url":"https://www.nasbp.org/resource/nasbp-opposes-il-hb-5042-to-raise-the-threshold-to-10m-for-il-dot-and-5m-for-state-local-contracts/"},{"label":"J.T. Milton, MCA and disclosure laws by state (July 2026)","url":"https://jtmilton.com/mca-laws-by-state/"},{"label":"Elite Funders, state commercial financing law tracker (September 2026)","url":"https://elitefunders.com/resources/state-commercial-financing-laws/"}],"confidence":"medium: ilga.gov and ilsos.gov blocked automated access, so the disclosure bill status (none enacted) rests on 2026 trackers and search snippets, the UCC search URL and online fee are null, and lien and prompt pay figures come from Levelset's statute summaries; the subcontractor 4-month recording rule is stated generally.","page_url":"/states/illinois/"},{"code":"IN","name":"Indiana","verifiedOn":"2026-11-12","summary":"Indiana has no commercial financing disclosure law, so factoring agreements here are governed by contract and the UCC, with liens filed centrally with the Indiana Secretary of State's Business Services Division. Receivables are dominated by manufacturing supply chains (autos, RVs, steel, pharmaceuticals) and by public payers that must pay within 35 days or owe 1% a month.","economy":{"paragraphs":["Indiana is one of the most manufacturing-heavy states, and most factored invoices trace back to large industrial buyers. Auto plants such as Toyota in Princeton and Subaru in Lafayette buy from a deep tier of parts suppliers. Elkhart County builds most of the country's recreational vehicles, steel mills ring Lake Michigan in the northwest, and Eli Lilly and Cummins anchor Indianapolis and Columbus. Indianapolis is also a major distribution hub for trucking and warehousing. Federal payers include Naval Surface Warfare Center Crane and Grissom Air Reserve Base.","OEMs and tier-one suppliers often pay on net 45 to net 90 terms, which squeezes smaller machine shops, staffing firms and carriers. RV demand is seasonal and cyclical, so Elkhart suppliers see sharp swings in volume. State agencies must pay within 35 days of a proper claim unless the contract sets a date, and agriculture suppliers peak around spring planting and fall harvest."],"metros":["Indianapolis","Fort Wayne","Evansville","South Bend","Elkhart","Lafayette","Gary and Northwest Indiana"],"industries":["Automotive parts manufacturing","Recreational vehicle manufacturing","Steel and metals","Pharmaceuticals and life sciences","Logistics and warehousing","Agriculture"],"federalInstallations":["Naval Surface Warfare Center Crane","Grissom Air Reserve Base","Camp Atterbury (Indiana National Guard)"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Indiana commercial financing disclosure law was found as of November 2026; state trackers dated mid and late 2026 list none.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Business Services Division, Indiana Secretary of State (Indianapolis)","searchUrl":"https://bsd.sos.in.gov/PublicUCCSearch","notes":"Filings are made through the state's INBiz portal; the public UCC search lets you search by filing number, debtor name or secured party name."},"publicPromptPay":{"statute":"Ind. Code §5-17-5","days":"By the date in the contract; if none, within 35 days after receipt of the goods or services or a properly completed claim","interest":"1% per month late payment penalty, added to principal every 30 days","notes":"Local claims that need board approval are due 35 days after the first regular meeting held at least 10 days after receipt. Public works contracts of $200,000 or more fall under Ind. Code §5-16-5.5: progress payments within 35 days of a proper request and first-tier subs paid within 10 days of the prime's receipt.","sourceUrl":"https://www.levelset.com/prompt-payment/indiana-prompt-payment-faqs/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Indiana has no prompt payment statute for private construction; payment timing is set by contract.","sourceUrl":"https://www.levelset.com/prompt-payment/indiana-prompt-payment-faqs/"},"lien":{"statute":"Ind. Code §32-28-3","preliminaryNotice":"Required only on owner-occupied 1 to 2 unit homes: subs and suppliers must notify the owner within 30 days of first furnishing on remodels, or within 60 days (with a copy filed with the recorder) on new construction","claimDeadline":"Generally 90 days after last furnishing labor or materials; 60 days on residential (Class 2) projects","enforceDeadline":"1 year after the lien is recorded, or 30 days after receiving an owner's written notice to sue","sourceUrl":"https://www.levelset.com/mechanics-lien/indiana-lien-law-faqs/"},"publicBond":{"statute":"Ind. Code §4-13.6-7 (state public works) and Ind. Code §5-16-5","threshold":"State public works contracts estimated over $200,000 require a 100% payment bond; below that the state may require a bond or 10% retainage","claimNotice":"File a verified claim with the public body and deliver a copy to the contractor within 60 days after last furnishing; suit cannot start until 30 days after the claim is filed","sourceUrl":"https://www.levelset.com/bond-claim/indiana-bond-claim-faqs/"},"other":["Under Ind. Code §5-17-5-4, a contractor whose payment from a state agency is late must pass 1% per month interest down to its subcontractors once it receives the payment and penalty."],"faqs":[{"q":"Is invoice factoring legal in Indiana?","a":"Yes. Factoring is a sale of accounts receivable under Indiana's version of UCC Article 9, and Indiana has no special license or disclosure requirement for commercial factors. A factor normally files a UCC-1 with the Indiana Secretary of State and notifies your customers to pay it directly. Fees, advance rates and recourse terms come from the contract."},{"q":"Does Indiana require a disclosure for factoring deals?","a":"No. As of November 2026 Indiana has not enacted a commercial financing disclosure law, so a factor does not have to give you a state-mandated cost or APR form. Neighboring Illinois has proposed one but not passed it. Ask any factor for a written fee schedule and an example of total cost so you can compare offers."},{"q":"Where do I search for UCC liens in Indiana?","a":"The Indiana Secretary of State's Business Services Division keeps the central UCC index. Its public UCC search (bsd.sos.in.gov/PublicUCCSearch) lets you search by debtor name, secured party or filing number, and filings are made through INBiz. Check for a bank's blanket lien on receivables before you factor, since it will need a release or an intercreditor agreement."},{"q":"My customer is an auto or RV manufacturer that pays in 60 to 90 days. Can I factor those invoices?","a":"Usually yes. Invoices to large, creditworthy OEMs are attractive to factors because the risk sits mostly with your customer. Check your supply agreement for anti-assignment or payment-direction clauses; UCC Article 9 generally overrides bans on assigning receivables, but some OEM portals require a formal change of remittance. Factoring is common among Indiana's tier-two and tier-three suppliers."}],"sources":[{"label":"Levelset, Indiana prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/indiana-prompt-payment-faqs/"},{"label":"Levelset, Indiana mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/indiana-lien-law-faqs/"},{"label":"Levelset, Indiana bond claim FAQs","url":"https://www.levelset.com/bond-claim/indiana-bond-claim-faqs/"},{"label":"J.T. Milton, MCA and disclosure laws by state (July 2026)","url":"https://jtmilton.com/mca-laws-by-state/"},{"label":"Elite Funders, state commercial financing law tracker (September 2026)","url":"https://elitefunders.com/resources/state-commercial-financing-laws/"}],"confidence":"medium: prompt pay, lien and bond figures come from Levelset pages that reproduce the Indiana Code; the Indiana SOS UCC search page (bsd.sos.in.gov) blocked automated access, so its URL comes from official search results rather than an opened page; local public bond thresholds were not verified; economy paragraphs rely on well-known employers.","page_url":"/states/indiana/"},{"code":"IA","name":"Iowa","verifiedOn":"2026-11-12","summary":"Iowa has no commercial financing disclosure law, so factoring here runs on contract terms and the UCC, with financing statements filed with the Iowa Secretary of State. Iowa is unusual in two ways: state agencies get 60 days to pay before 1% monthly interest starts, and construction liens are posted on a statewide online registry run by the Secretary of State.","economy":{"paragraphs":["Iowa's receivables come from agriculture, food processing, advanced manufacturing and financial services. Corn, soybean and hog producers sell to processors, ethanol plants and co-ops, and meat and egg processors run large plants across the state. Deere & Company builds tractors and engines in Waterloo and Ankeny, and Collins Aerospace is a major employer in Cedar Rapids. Des Moines is an insurance and financial services center, home to Principal Financial Group. Public payers include state agencies, the Regents universities and the Iowa Army Ammunition Plant near Burlington.","Farm-linked receivables are seasonal, peaking around fall harvest and spring planting, and grain and livestock prices drive customer cash flow. Equipment dealers, haulers and ag service firms often wait on co-ops and processors. State agencies must pay within 60 days or owe 1% a month, and public construction owners must make progress payments within 14 days of a request."],"metros":["Des Moines","Cedar Rapids","Davenport","Iowa City","Waterloo","Sioux City","Ames"],"industries":["Agriculture and grain","Meat and food processing","Agricultural equipment manufacturing","Aerospace and electronics","Insurance and financial services","Trucking and logistics"],"federalInstallations":["Iowa Army Ammunition Plant","Camp Dodge (Iowa National Guard)"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Iowa commercial financing disclosure law was found as of November 2026; state trackers dated mid and late 2026 list none.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Iowa Secretary of State (filing office for UCC records), Lucas State Office Building, Des Moines","searchUrl":"https://sos.iowa.gov/businesses/uniform-commercial-code-ucc","notes":"State rules name the Secretary of State as the filing office and sos.iowa.gov as its online information service; UCC filings and search requests cannot be made by email."},"publicPromptPay":{"statute":"Iowa Code §8A.514(3)","days":"60 days after receipt of the claim or satisfactory delivery or performance, whichever is later","interest":"1% per month on the unpaid amount","notes":"Does not apply to claims paid with federal funds or claims under chapters 25 and 669. Public construction is separate (Iowa Code §573.12): progress payments within 14 days of a request (up to 30 by contract) and final payment 40 days after completion and acceptance, with interest at a Treasury-set rate.","sourceUrl":"https://www.legis.iowa.gov/docs/code/8A.514.pdf"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Iowa has no prompt payment statute for private construction; payment timing and late charges are set by contract.","sourceUrl":"https://www.levelset.com/prompt-payment/iowa-prompt-payment-faqs/"},"lien":{"statute":"Iowa Code ch. 572","preliminaryNotice":"On residential projects, subcontractors must post a preliminary notice on the state Mechanics' Notice and Lien Registry (MNLR), and general contractors must post a notice of commencement within 10 days after work begins","claimDeadline":"Generally post the lien on the MNLR within 90 days after last furnishing for full protection; later postings (up to 2 years and 90 days) reach only what the owner still owes the general contractor","enforceDeadline":"Generally within 2 years and 90 days after last furnishing, or within 30 days of an owner's written demand","sourceUrl":"https://www.levelset.com/mechanics-lien/iowa-lien-law-faqs/"},"publicBond":{"statute":"Iowa Code ch. 573","threshold":"Public improvement contracts of $25,000 or more (highway, bridge and culvert work excluded)","claimNotice":"Claimants who dealt with a subcontractor must notify the prime within 30 days of first furnishing; claims must be filed with the public body within 30 days after completion and final acceptance, and suit is due within 60 days after acceptance","sourceUrl":"https://www.levelset.com/bond-claim/iowa-bond-claim-faqs/"},"other":["All Iowa mechanics liens are perfected by posting to the Mechanics' Notice and Lien Registry, an online database administered by the Secretary of State, not by recording at the county.","Iowa public bond claims run on a short clock: file within 30 days after the project is accepted, so suppliers to public projects should track acceptance dates closely."],"faqs":[{"q":"Is invoice factoring legal in Iowa?","a":"Yes. Factoring is a sale of accounts receivable governed by Iowa's version of UCC Article 9, and Iowa does not license commercial factors or require a disclosure form. A factor typically files a UCC-1 with the Iowa Secretary of State and directs your customers to pay it. Terms like advance rate, fees and recourse are set in the agreement."},{"q":"Does Iowa require a disclosure for factoring deals?","a":"No. As of November 2026 Iowa has not passed a commercial financing disclosure law, unlike neighboring Missouri and nearby Kansas. A factor does not have to give you a state form showing total cost or APR. It is still smart to ask for a written fee example so you can compare offers on the same basis."},{"q":"Where do I search for UCC liens in Iowa?","a":"The Iowa Secretary of State is the filing office for UCC records and offers online UCC services at sos.iowa.gov. Search under your exact legal business name. Fixture filings tied to real estate go to the county recorder instead. A bank's blanket lien on receivables will need a release or an intercreditor agreement before a factor can buy your invoices."},{"q":"How long do Iowa state agencies have to pay my invoices?","a":"Under Iowa Code §8A.514, a state agency that has not paid a claim 60 days after receiving it (or after satisfactory delivery, if later) owes interest of 1% per month. Claims paid with federal funds are excluded. Public construction contracts follow a faster rule, with progress payments due within 14 days of a request under Iowa Code §573.12."}],"sources":[{"label":"Iowa Code §8A.514, payment of state claims","url":"https://www.legis.iowa.gov/docs/code/8A.514.pdf"},{"label":"Iowa Admin. Code r. 721-30.1, UCC filing office","url":"https://www.law.cornell.edu/regulations/iowa/Iowa-Code-r-721-30.1"},{"label":"Levelset, Iowa prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/iowa-prompt-payment-faqs/"},{"label":"Levelset, Iowa mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/iowa-lien-law-faqs/"},{"label":"Levelset, Iowa bond claim FAQs","url":"https://www.levelset.com/bond-claim/iowa-bond-claim-faqs/"},{"label":"J.T. Milton, MCA and disclosure laws by state (July 2026)","url":"https://jtmilton.com/mca-laws-by-state/"},{"label":"Elite Funders, state commercial financing law tracker (September 2026)","url":"https://elitefunders.com/resources/state-commercial-financing-laws/"}],"confidence":"medium: state prompt pay verified in the 2026 Iowa Code text and bond rules via Levelset's statute excerpts; the lien enforcement deadline section number was not confirmed, the sos.iowa.gov UCC page blocked automated access (URL from official search results), and commercial-project preliminary notice rules were not verified; economy paragraphs rely on well-known employers.","page_url":"/states/iowa/"},{"code":"KS","name":"Kansas","verifiedOn":"2026-11-12","summary":"Kansas is one of the few states with a commercial financing disclosure law that expressly covers accounts receivable purchases: since July 1, 2024, providers must give a cost disclosure on deals of $500,000 or less, though no APR is required. UCC-1s are filed with the Kansas Secretary of State, and online searching requires a paid subscription account.","economy":{"paragraphs":["Kansas receivables are anchored by aviation, agriculture and the military. Wichita is a major aircraft manufacturing center, with Textron Aviation and a long chain of machine shops, composites suppliers and engineering firms. Southwest Kansas is beef country, with large meatpacking plants around Dodge City, Garden City and Liberal buying cattle, feed and trucking services. Wheat, sorghum and grain elevators drive seasonal ag business statewide. Fort Riley, Fort Leavenworth and McConnell Air Force Base support defense contractors, and the Kansas City suburbs host corporate headquarters and distribution centers.","Aerospace suppliers often wait 60 days or longer on large manufacturers, and production swings follow aircraft build rates. Wheat harvest in June and July and fall row crops create seasonal peaks for elevators and haulers. State agencies must pay within 30 days, with 1.5% monthly interest if the vendor asks in writing, and the Kansas Fairness in Construction acts set 30-day owner and 7-business-day sub payment rules."],"metros":["Wichita","Overland Park","Kansas City, Kansas","Olathe","Topeka","Lawrence","Manhattan"],"industries":["Aircraft manufacturing and aerospace suppliers","Meatpacking and food processing","Agriculture and grain","Trucking and logistics","Oil and gas","Construction"],"federalInstallations":["Fort Riley","Fort Leavenworth","McConnell Air Force Base"]},"disclosure":{"status":"in_effect","name":"Kansas Commercial Financing Disclosure Act","citation":"K.S.A. 75-783 through 75-787","billOrAct":"SB 345 (2024)","effective":"2024-07-01","threshold":"Commercial financing transactions of $500,000 or less","coversFactoring":true,"aprRequired":false,"registration":null,"exemptions":"Banks and other federally regulated depository institutions and their affiliates, Farm Credit lenders, deals secured by real property, leases, certain purchase money and dealer financing, licensed money transmitters, providers with 5 or fewer Kansas deals in 12 months, and deals over $500,000.","enforcement":"Kansas Attorney General exclusively; civil penalty of $500 per violation (capped at $20,000), rising to $1,000 per violation (capped at $50,000) after prior written notice; no private right of action, and a violation does not void the agreement.","notes":"The disclosure lists total funds provided, amount disbursed, total of payments, total dollar cost, payment terms and prepayment terms. For a factoring facility, one disclosure is enough, based on an example of $10,000 in receivables, and no new disclosure is needed for each purchase.","sourceUrl":"https://www.ksrevisor.gov/statutes/chapters/ch75/075_007_0083.html","thresholdUsd":500000},"ucc":{"office":"Business Services Division, Kansas Secretary of State (Topeka)","searchUrl":"https://mykansas.ks.gov/ucc/","notes":"Online filing and searching require a subscription account on the KSUCC system; online debtor searches cost $10 and paper searches $20, plus $1 per page for collateral images."},"publicPromptPay":{"statute":"K.S.A. 75-6403","days":"30 calendar days after receipt of the goods or services or the bill, whichever is later, unless agreed otherwise in writing","interest":"1.5% per month, but only if the vendor requests it in writing within 4 months; no interest if paid within 15 days after the due date","notes":"Public construction falls under the Kansas Fairness in Public Construction Contract Act (K.S.A. 16-1901 et seq.): owners pay within 30 days of an undisputed request (45 with extenuating circumstances), subs within 7 business days, 18% annual interest; highway, road and bridge work is excluded.","sourceUrl":"https://www.levelset.com/prompt-payment/kansas-prompt-payment-faqs/"},"privatePromptPay":{"statute":"Kansas Fairness in Private Construction Contract Act, K.S.A. 16-1801 et seq.","ownerToContractor":"30 days after receipt of a timely, properly completed, undisputed payment request","contractorToSub":"7 business days after the contractor receives payment","interest":"18% per year on undisputed late amounts","notes":"Retainage is capped at 10%. Homes and multifamily buildings of 4 units or fewer are excluded. Unpaid parties may suspend work after notice, and the prevailing party recovers attorney fees.","sourceUrl":"https://www.levelset.com/prompt-payment/kansas-prompt-payment-faqs/"},"lien":{"statute":"K.S.A. 60-1101 et seq.","preliminaryNotice":"Not generally required on commercial work; residential liens require a warning statement to the owner, and new residential work requires a notice of intent to perform filed before the home sells","claimDeadline":"Generally 3 months after last furnishing for subcontractors and suppliers, extendable to 5 months on non-residential property by filing a notice of extension within the first 3 months","enforceDeadline":"1 year after the lien statement is filed (K.S.A. 60-1105)","sourceUrl":"https://www.levelset.com/mechanics-lien/kansas-lien-law-faqs/"},"publicBond":{"statute":"K.S.A. 60-1111","threshold":"Public contracts exceeding $100,000","claimNotice":"No formal notice is required by statute (check the bond); suit must be brought within 6 months after completion of the project. State highway projects follow K.S.A. 68-410.","sourceUrl":"https://www.levelset.com/bond-claim/kansas-bond-claim-faqs/"},"other":["The Kansas disclosure law treats a provider's characterization of an accounts receivable purchase as conclusive that it is not a loan or a transaction for the use, forbearance or detention of money (K.S.A. 75-783).","Kansas state agencies owe late-payment interest only if the vendor asks for it in writing within 4 months, so vendors factoring state invoices should send that request when payments run late."],"faqs":[{"q":"Is invoice factoring legal in Kansas?","a":"Yes. Kansas law expressly recognizes accounts receivable purchase transactions, and its disclosure act says a provider's characterization of the deal as a purchase is conclusive that it is not a loan. Factors do not need a state license or registration. They typically file a UCC-1 with the Kansas Secretary of State and collect directly from your customers."},{"q":"Does Kansas require a disclosure for factoring deals?","a":"Yes, for deals of $500,000 or less. Since July 1, 2024, the Kansas Commercial Financing Disclosure Act requires providers to disclose total funds provided, total payments, total dollar cost, payment terms and prepayment terms before closing. APR is not required. Banks, providers with 5 or fewer Kansas deals a year, and larger deals are exempt. The Attorney General enforces it."},{"q":"Where do I search for UCC liens in Kansas?","a":"UCC records are kept by the Kansas Secretary of State's Business Services Division on its KSUCC system at mykansas.ks.gov/ucc. Online searching requires a subscription account, and a debtor search costs $10 online or $20 on paper, plus $1 per page for collateral images. Many businesses ask their factor or lawyer to run the search."},{"q":"How fast must a Kansas owner pay on a construction project?","a":"On most commercial private projects, the Kansas Fairness in Private Construction Contract Act requires the owner to pay an undisputed request within 30 days and the contractor to pay subs within 7 business days of being paid. Late amounts carry 18% annual interest. Public projects follow a similar act, excluding highways, roads and bridges."}],"sources":[{"label":"K.S.A. 75-783, Commercial Financing Disclosure Act definitions","url":"https://www.ksrevisor.gov/statutes/chapters/ch75/075_007_0083.html"},{"label":"K.S.A. 75-784, required disclosures","url":"https://www.ksrevisor.gov/statutes/chapters/ch75/075_007_0084.html"},{"label":"K.S.A. 75-785, exemptions","url":"https://www.ksrevisor.gov/statutes/chapters/ch75/075_007_0085.html"},{"label":"K.S.A. 75-787, enforcement","url":"https://www.ksrevisor.gov/statutes/chapters/ch75/075_007_0087.html"},{"label":"Mayer Brown, Kansas enacts commercial finance disclosure law","url":"https://www.mayerbrown.com/en/insights/publications/2024/06/kansas-enacts-commercial-finance-disclosure-law"},{"label":"Kansas Secretary of State, UCC filing information","url":"https://sos.ks.gov/general-services/ucc-filing-information.html"},{"label":"Levelset, Kansas prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/kansas-prompt-payment-faqs/"},{"label":"Levelset, Kansas mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/kansas-lien-law-faqs/"},{"label":"Levelset, Kansas bond claim FAQs","url":"https://www.levelset.com/bond-claim/kansas-bond-claim-faqs/"}],"confidence":"high: the disclosure act was verified section by section on ksrevisor.gov and UCC details on the Secretary of State site; lien, prompt pay and bond figures come from Levelset pages reproducing the statutes; economy paragraphs rely on well-known employers rather than a cited source.","page_url":"/states/kansas/"},{"code":"KY","name":"Kentucky","verifiedOn":"2026-11-12","summary":"Kentucky has no commercial financing disclosure law, so factoring deals are governed by contract and the UCC, with most UCC-1s filed centrally with the Kentucky Secretary of State, which offers a free online index search. A 2026 law (HB 480) tightened state agency payment rules: undisputed invoices are due in 30 business days, with 1% monthly interest and recovery of credit costs a vendor incurs while waiting.","economy":{"paragraphs":["Kentucky's receivables come from auto manufacturing, logistics, bourbon, healthcare and the military. Toyota's Georgetown plant, Ford's two Louisville plants and GM's Corvette plant in Bowling Green support hundreds of parts suppliers. Louisville is home to UPS Worldport, and the Cincinnati/Northern Kentucky airport hosts a major air cargo hub, creating steady work for trucking and warehousing firms. Distilleries buy grain, barrels and glass from local suppliers, and Louisville-based Humana and large hospital systems pay healthcare vendors. Fort Knox, Fort Campbell and the Blue Grass Army Depot drive defense contracting.","Auto OEMs and tier-one suppliers commonly pay on net 45 to net 90 terms. Bourbon ages for years, so distillery suppliers and barrel makers carry long cycles, and coal and energy services remain important in the east. State agencies must now pay undisputed amounts within 30 business days, and construction owners have 30 business days under the Fairness in Construction Act."],"metros":["Louisville","Lexington","Bowling Green","Owensboro","Covington and Northern Kentucky","Elizabethtown","Paducah"],"industries":["Automotive manufacturing","Logistics and air cargo","Distilled spirits","Healthcare services","Construction","Coal and energy services"],"federalInstallations":["Fort Knox","Fort Campbell","Blue Grass Army Depot"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Kentucky commercial financing disclosure law was found as of November 2026; state trackers dated mid and late 2026 list none.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Kentucky Secretary of State (Frankfort); county clerks handle only fixture filings and timber or as-extracted mineral filings","searchUrl":"https://web.sos.ky.gov/ftucc/search.aspx","notes":"The online index search is free but not certified (certified searches need a request form and fee); simple UCC-1 and UCC-3 filings can be made online for $5."},"publicPromptPay":{"statute":"KRS 45.451 to 45.458, and a new section of KRS Chapter 45A created by HB 480 (2026 Ky. Acts ch. 147)","days":"Undisputed amounts within 30 business days of receipt of the goods, services or invoice, or as the contract provides","interest":"1% per month (or fraction of a month) on undisputed amounts after 30 business days, under KRS 45.454","notes":"HB 480 became law without the Governor's signature on April 14, 2026. Agencies must flag invoice problems within 15 business days, vendors get a 10-day correction window, and a vendor who borrowed to keep performing may recover its interest and credit costs. Public construction follows KRS 371.405 (30 business days; 45 for universities and school boards).","sourceUrl":"https://apps.legislature.ky.gov/law/acts/26RS/documents/0147.pdf"},"privatePromptPay":{"statute":"Kentucky Fairness in Construction Act, KRS 371.400 to 371.425","ownerToContractor":"30 business days after receipt of a timely, properly completed, undisputed payment request","contractorToSub":"15 business days after the contractor receives payment","interest":"12% per year, starting the 31st business day (owner) or 16th business day (contractor)","notes":"Applies to public and private projects but excludes residential construction. Retainage is capped at 10% until 50% completion and 5% after.","sourceUrl":"https://www.levelset.com/prompt-payment/kentucky-prompt-payment-faqs/"},"lien":{"statute":"KRS 376.010 et seq.","preliminaryNotice":"Subs and suppliers without a direct contract must give the owner written notice within 75 days after last furnishing for claims of $1,000 or less, or 120 days for larger claims; on owner-occupied 1 to 2 family homes, within 75 days regardless of amount","claimDeadline":"6 months after last furnishing, filed with the county clerk, with a copy mailed to the owner within 7 days (KRS 376.080)","enforceDeadline":"12 months after the lien statement is filed (KRS 376.090)","sourceUrl":"https://www.levelset.com/mechanics-lien/kentucky-lien-law-faqs/"},"publicBond":{"statute":"KRS 45A.190 (state) and KRS 45A.435 (local public agencies)","threshold":"State construction contracts over $40,000; local public agency construction contracts over $100,000; payment bond of 100% of the contract price","claimNotice":"No statutory notice deadline; the bond's terms control. A separate lien on public contract funds (KRS 376.230) must be filed within 60 days after the last month of furnishing or substantial completion, whichever is later.","sourceUrl":"https://www.levelset.com/bond-claim/kentucky-bond-claim-faqs/"},"other":["HB 480 (2026) lets a state vendor that took a loan, line of credit or other financing to keep performing while an undisputed invoice sat unpaid past 30 business days recover those interest and credit costs from the agency; whether factoring fees qualify is not addressed in the text.","Kentucky's Fairness in Construction Act sets the same 12% late-payment interest for public and private commercial projects, which can strengthen a contractor's receivables when payment runs late."],"faqs":[{"q":"Is invoice factoring legal in Kentucky?","a":"Yes. Factoring is a sale of accounts receivable governed by Kentucky's version of UCC Article 9, and Kentucky does not license commercial factors or require a state disclosure form. A factor typically files a UCC-1 with the Kentucky Secretary of State and has your customers pay it directly. Fees and recourse terms are set by your agreement."},{"q":"Does Kentucky require a disclosure for factoring deals?","a":"No. As of November 2026 Kentucky has not enacted a commercial financing disclosure law like those in Kansas, Missouri or Virginia. A factor does not have to give you a state-mandated cost or APR form. Ask for a written fee schedule and a sample cost calculation anyway, so you can compare offers on the same terms."},{"q":"Where do I search for UCC liens in Kentucky?","a":"Use the Kentucky Secretary of State's free UCC index search at web.sos.ky.gov/ftucc/search.aspx, searching by debtor name or file number. It is not a certified search; certified results require a request form and fee. Fixture filings and timber or mineral filings are recorded with the county clerk where the property sits, so check there for real estate related liens."},{"q":"How fast do Kentucky state agencies have to pay my invoices?","a":"Under HB 480, effective in 2026, state contracts must provide that undisputed amounts are paid within 30 business days of receipt of the goods, services or invoice, unless the contract sets other terms. Late amounts carry 1% per month interest, and a vendor that borrowed to keep performing can recover its credit costs. A dispute process runs through the Finance and Administration Cabinet."}],"sources":[{"label":"Kentucky Acts 2026, ch. 147 (HB 480), state contract payments","url":"https://apps.legislature.ky.gov/law/acts/26RS/documents/0147.pdf"},{"label":"Kentucky Secretary of State, UCC online services","url":"https://sos.ky.gov/bus/UCC/Pages/Online-Services.aspx"},{"label":"Kentucky Secretary of State, UCC index search","url":"https://web.sos.ky.gov/ftucc/search.aspx"},{"label":"Levelset, Kentucky prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/kentucky-prompt-payment-faqs/"},{"label":"Levelset, Kentucky mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/kentucky-lien-law-faqs/"},{"label":"Levelset, Kentucky bond claim FAQs","url":"https://www.levelset.com/bond-claim/kentucky-bond-claim-faqs/"},{"label":"J.T. Milton, MCA and disclosure laws by state (July 2026)","url":"https://jtmilton.com/mca-laws-by-state/"},{"label":"Elite Funders, state commercial financing law tracker (September 2026)","url":"https://elitefunders.com/resources/state-commercial-financing-laws/"}],"confidence":"medium: HB 480 and UCC search verified on official sites; lien, Fairness in Construction and bond figures come from Levelset statute summaries; the county clerk UCC exceptions rest on KRS 355.9-501 as quoted in search results and county clerk pages not opened; economy paragraphs rely on well-known employers.","page_url":"/states/kentucky/"},{"code":"LA","name":"Louisiana","verifiedOn":"2026-11-12","summary":"Louisiana has had a commercial financing disclosure rule since August 1, 2025, but it targets revenue-based financing (percentage-of-sales deals such as merchant cash advances), and its text does not mention invoice factoring. UCC-1s are filed with any of the 64 parish clerks of court rather than the Secretary of State, and payers range from Gulf Coast petrochemical and LNG plants to ports, shipyards and military installations.","economy":{"paragraphs":["Louisiana receivables come from heavy industry and trade. Refineries and petrochemical plants line the Mississippi River corridor between Baton Rouge and New Orleans, and LNG export terminals in Cameron and Calcasieu parishes buy engineering, fabrication, maintenance and trucking from local contractors. The Port of New Orleans and the Port of South Louisiana move grain, steel and chemicals, which feeds logistics and marine services firms. Fort Polk, Barksdale Air Force Base and Naval Air Station Joint Reserve Base New Orleans create federal prime and subcontract work, and large hospital systems and state agencies are steady but slow payers for staffing and service vendors.","Industrial owners and EPC contractors often pay on long terms, and plant turnarounds and hurricane recovery create sudden spikes in billing that strain a contractor's cash. Offshore and oilfield service work rises and falls with energy prices. Construction subcontractors should note that Louisiana tightened its private prompt payment law effective August 1, 2026, with a 7-day pass-through rule and uncapped 1.5% monthly interest."],"metros":["New Orleans","Baton Rouge","Shreveport","Lafayette","Lake Charles"],"industries":["Petrochemicals and refining","LNG and energy construction","Oilfield and offshore services","Ports, maritime and logistics","Shipbuilding and marine fabrication","Healthcare services"],"federalInstallations":["Fort Polk","Barksdale Air Force Base","Naval Air Station Joint Reserve Base New Orleans"]},"disclosure":{"status":"in_effect","name":"Revenue-based financing transaction disclosure","citation":"La. R.S. 9:3137.10","billOrAct":"HB 470 (2025), Act 198 of the 2025 Regular Session","effective":"2025-08-01","threshold":null,"coversFactoring":null,"aprRequired":false,"registration":null,"exemptions":"The statute lists no exemptions and no maximum deal size; it applies only to revenue-based financing transactions, not loans.","enforcement":"The section contains no enforcement or penalty provision and does not authorize a state agency to adopt rules.","notes":"The law covers deals where a business sells or forwards a percentage of its sales, revenue or income and payments rise and fall with that volume; it requires one written disclosure (funds provided, funds disbursed, total repayment, total dollar cost, payment terms, prepayment costs) at or before closing. Whether a classic invoice factoring deal falls inside that definition is not addressed in the text, so confirm with counsel.","sourceUrl":"https://legis.la.gov/Legis/Law.aspx?d=1429292","thresholdUsd":null},"ucc":{"office":"Any of the 64 Louisiana parish clerks of court (filing officers); the Secretary of State's Commercial Division maintains the statewide UCC master index but does not accept filings or perform searches","searchUrl":"https://www.sos.la.gov/business-services/search-for-financing-statements","notes":"Certified searches are ordered in writing from any parish clerk, and the Secretary of State sells an annual Direct Access subscription to the statewide database; UCC-3 amendments must go to the same parish as the original filing."},"publicPromptPay":{"statute":"La. R.S. 39:1695 (state agency vendor payments); La. R.S. 38:2191 (public works contracts)","days":"State agencies owe a penalty if they fail, without reasonable cause, to pay within 90 days of the contract due date. On public works, progress payments are generally due within 45 days of a certified request and final payment within 45 days of a clear lien certificate.","interest":"Under 39:1695, interest at the judicial interest rate (R.S. 13:4202(B)) from the 91st day after the due date. Section 38:2191 provides attorney fees and mandamus rather than a stated interest rate.","notes":"DOTD highway contracts have their own payment rules in R.S. 48:251.5. Act 822 of 2026 confirms the private prompt pay statute does not override R.S. 38:2191 on public contracts.","sourceUrl":"https://legis.la.gov/Legis/Law.aspx?d=96133"},"privatePromptPay":{"statute":"La. R.S. 9:2784, as amended by Act 822 of 2026","ownerToContractor":"Generally 35 days after a written payment request for properly performed work (if the project is loan-funded, the later of 35 days or 5 days after the owner receives the loan proceeds)","contractorToSub":"7 days after receipt of payment","interest":"1.5% per month, with no cap, until paid","notes":"Effective August 1, 2026, the 14-day deadline and the old 0.5% per day penalty capped at 15% were replaced; undisputed amounts must be paid even when part of a bill is disputed, the prevailing party recovers attorney fees, and waivers are void (single-family residence contracts may extend the owner deadline to 61 days).","sourceUrl":"https://www.cozen.com/news-resources/publications/2026/louisiana-overhauls-prompt-payment-requirements-for-private-construction-projects"},"lien":{"statute":"Louisiana Private Works Act, La. R.S. 9:4801 et seq.","preliminaryNotice":"Not generally required for subcontractors. Suppliers to subcontractors must send a notice of nonpayment to the owner and contractor within 75 days after the last day of the month of delivery when a notice of contract was filed; equipment lessors and design professionals have their own notice rules.","claimDeadline":"Generally 60 days after a notice of termination is filed, or after substantial completion or abandonment if none is filed; if the owner filed a timely notice of contract, 30 days after a notice of termination (or 6 months after substantial completion if none is filed). R.S. 9:4822.","enforceDeadline":"Suit against the owner within 1 year after filing the statement of claim (R.S. 9:4823); a notice of pendency of action must also be filed within 1 year to bind third parties.","sourceUrl":"https://www.levelset.com/mechanics-lien/louisiana-lien-law-faqs/"},"publicBond":{"statute":"La. R.S. 38:2241 et seq. (Public Works Act)","threshold":"Contracts over $25,000 per project (over $250,000 in Ascension Parish); bond of at least 50% of the contract price","claimNotice":"File a sworn statement of the amount due with the public entity, and record it, within 45 days after recordation of acceptance of the work or notice of default (R.S. 38:2242(B)); suppliers to subcontractors must also send a notice of nonpayment within 75 days after the last day of the month of delivery.","sourceUrl":"https://www.legis.la.gov/Legis/LawPrint.aspx?d=94960"},"other":["Louisiana is a civil-law state, but it adopted UCC Article 9; the unusual part is filing, which happens at parish clerks of court, with UCC searches run through any parish office.","Act 198 of 2025 also declares that amounts charged in a revenue-based financing deal are not interest, keeping those deals outside Louisiana usury rules.","Act 822 of 2026 rewrote private construction prompt pay as of August 1, 2026: 7-day pass-through to subs and 1.5% monthly interest with no cap."],"faqs":[{"q":"Is invoice factoring legal in Louisiana?","a":"Yes. Louisiana's civil code roots do not block factoring; the state adopted UCC Article 9, which treats a sale of accounts receivable as a secured transaction that is perfected by filing a UCC-1. The factor files with any parish clerk of court and the filing becomes effective statewide. Contract terms, notice to your customers and any anti-assignment clauses in government contracts still matter, so read your factoring agreement closely."},{"q":"Does Louisiana require a disclosure for factoring deals?","a":"Louisiana's 2025 law (Act 198, R.S. 9:3137.10) requires a written disclosure for revenue-based financing, meaning deals where you sell a percentage of future sales and payments rise and fall with revenue. It requires no APR and has no exemptions or size cap. The statute does not mention invoice factoring, so a standard factoring deal may fall outside it. Ask your provider which disclosures it gives."},{"q":"Where do I search for UCC liens in Louisiana?","a":"Not at the Secretary of State. Louisiana UCC filings are made at the 64 parish clerks of court, which all feed a statewide index kept by the Secretary of State. For a certified search, send a written request to any parish clerk of court. Frequent searchers can buy an annual Direct Access subscription to the statewide database from the Secretary of State's Commercial Division."},{"q":"How fast must a general contractor pay my subcontract invoices on a private Louisiana job?","a":"Since August 1, 2026, a contractor must pay a subcontractor or supplier within 7 days of being paid, and the owner generally has 35 days from a proper payment request. Late amounts carry interest of 1.5% per month with no cap, and the prevailing party recovers attorney fees. These rules come from R.S. 9:2784 as amended by Act 822 of 2026; public projects follow separate rules."}],"sources":[{"label":"Louisiana Legislature, R.S. 9:3137.10 (revenue-based financing)","url":"https://legis.la.gov/Legis/Law.aspx?d=1429292"},{"label":"Louisiana Legislature, Act 198 (HB 470) of 2025 resume digest","url":"https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1430174"},{"label":"Mayer Brown, Louisiana now requires disclosures for revenue-based financing transactions","url":"https://www.mayerbrown.com/en/insights/publications/2025/08/louisiana-now-requires-disclosures-for-revenue-based-financing-transactions"},{"label":"Louisiana Secretary of State, search for financing statements","url":"https://www.sos.la.gov/business-services/search-for-financing-statements"},{"label":"Louisiana Secretary of State, UCC FAQs","url":"https://www.sos.la.gov/business-services/uniform-commercial-code-faqs"},{"label":"Louisiana Legislature, R.S. 39:1695 (state agency late payments)","url":"https://legis.la.gov/Legis/Law.aspx?d=96133"},{"label":"Cozen O'Connor, Louisiana overhauls prompt-payment requirements (Act 822 of 2026)","url":"https://www.cozen.com/news-resources/publications/2026/louisiana-overhauls-prompt-payment-requirements-for-private-construction-projects"},{"label":"Levelset, Louisiana lien law FAQs","url":"https://www.levelset.com/mechanics-lien/louisiana-lien-law-faqs/"},{"label":"Louisiana Legislature, R.S. 38:2241 (public works bonds)","url":"https://www.legis.la.gov/Legis/LawPrint.aspx?d=94957"},{"label":"Louisiana Legislature, R.S. 38:2242 (claims on public works)","url":"https://www.legis.la.gov/Legis/LawPrint.aspx?d=94960"}],"confidence":"medium: statutes and the 2026 prompt pay rewrite were checked against official text or firm alerts, but whether R.S. 9:3137.10 reaches invoice factoring is unresolved (left null), the R.S. 38:2191 deadlines come from a Levelset summary, and the Levelset R.S. 9:2784 page still shows pre-2026 figures (superseded by Act 822).","page_url":"/states/louisiana/"},{"code":"ME","name":"Maine","verifiedOn":"2026-11-12","summary":"Maine has no commercial financing disclosure law, so factoring deals here are governed by contract and Maine's version of UCC Article 9, with UCC-1s filed online with the Secretary of State's Bureau of Corporations, Elections and Commissions. The receivables base is shipbuilding and defense, healthcare, forest products, seafood and the state government itself, which must pay proper invoices within 25 working days.","economy":{"paragraphs":["Maine's biggest B2B payers are defense and healthcare. Bath Iron Works builds Navy destroyers and Portsmouth Naval Shipyard in Kittery overhauls submarines, and both pull in machine shops, electrical contractors, staffing firms and suppliers across southern and midcoast Maine. MaineHealth and Northern Light Health are the largest employers and buyers of medical staffing, home care and facility services. Paper mills, sawmills and wood products plants buy logging, trucking and maintenance services, and seafood processors and dealers move lobster and other catch to national distributors. State agencies and municipalities round out the slow-pay public side.","Seasonality is strong. Tourism and hospitality vendors earn most of their revenue from June to October, while seafood, blueberry and timber harvests set their own cycles. Contractors face a short building season and winter slowdowns, and defense subcontractors often wait on prime contractor payment cycles. Maine's construction prompt pay law sets 20 days for owners and 7 days for contractors to pass payment down."],"metros":["Portland","Lewiston-Auburn","Bangor","Augusta"],"industries":["Shipbuilding and defense manufacturing","Healthcare services","Forest products and paper","Seafood harvesting and processing","Tourism and hospitality","Construction"],"federalInstallations":["Portsmouth Naval Shipyard"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Maine commercial financing disclosure statute was found, and a March 2026 multistate survey of these laws does not list Maine. Maine's strong credit protections apply mainly to consumer transactions.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Maine Secretary of State, Bureau of Corporations, Elections and Commissions (UCC Section), Augusta","searchUrl":"https://apps1.web.maine.gov/cgi-bin/online/ucc/index.pl","notes":"Online search and filing are paid by credit card or an InforME subscriber account, and since October 21, 2013 searches must use the debtor's exact name."},"publicPromptPay":{"statute":"5 M.R.S. §§1551 to 1558","days":"No more than 25 working days after the later of receipt of a proper invoice or receipt of the goods or services, unless the parties agree otherwise","interest":"A late fee no higher than the vendor's normal late charge, running from the day after the required payment date","notes":"The agency must notify the vendor promptly of an improper invoice. Maine's construction prompt pay law (10 M.R.S. §1111 et seq.) also defines owner to include the state and its subdivisions.","sourceUrl":"https://legislature.maine.gov/statutes/5/title5sec1553.html"},"privatePromptPay":{"statute":"10 M.R.S. §§1111 to 1120","ownerToContractor":"20 days after the end of the billing period or 20 days after delivery of the invoice, whichever is later, unless otherwise agreed","contractorToSub":"7 days after receipt of payment or 7 days after receipt of the sub's invoice, whichever is later, notwithstanding a contrary agreement","interest":"Interest at the rate in 14 M.R.S. §1602-C from the day after the due date, plus a 1% per month penalty on sums wrongfully withheld (§1118)","notes":"The substantially prevailing party in a payment dispute is awarded reasonable attorney fees.","sourceUrl":"https://legislature.maine.gov/statutes/10/title10sec1114.html"},"lien":{"statute":"10 M.R.S. §3251 et seq.","preliminaryNotice":"Not generally required. A claimant without a direct contract must give the owner a statutory notice on residential work (it does not apply to commercial projects unless the owner lives there).","claimDeadline":"Subcontractors and suppliers must file a lien statement with the county registry of deeds within 90 days after last furnishing labor or materials (§3253)","enforceDeadline":"Court action within 120 days after last furnishing labor or materials (§3255)","sourceUrl":"https://www.levelset.com/mechanics-lien/maine-lien-law-faqs/"},"publicBond":{"statute":"14 M.R.S. §871","threshold":"Public construction contracts over $125,000 (payment bond for the full contract amount)","claimNotice":"Claimants without a direct contract with the contractor must give written notice within 90 days after their last labor or materials; suit generally within 1 year after last labor or materials","sourceUrl":"https://legislature.maine.gov/statutes/14/title14sec871.html"},"other":["A Maine mechanics lien must be enforced by a court action within 120 days after last furnishing, so subcontractors who factor receivables on private jobs should track last-furnishing dates closely.","Maine's free online UCC search is unofficial; the official debtor search is fee-based."],"faqs":[{"q":"Is invoice factoring legal in Maine?","a":"Yes. Factoring is a sale of accounts receivable, and Maine's version of UCC Article 9 lets a factor perfect its interest by filing a UCC-1 with the Secretary of State. Maine has no commercial financing disclosure or licensing law aimed at factoring, so the terms you sign control. Review the fee schedule, recourse terms and any notice your customers will receive before you sign."},{"q":"Does Maine require a disclosure for factoring deals?","a":"No. As of November 2026 Maine has not passed a commercial financing disclosure law like those in New York, California or Utah, and recent multistate surveys do not list Maine. Your protection comes from the written contract, so ask any provider for the total cost, the advance rate, the fee structure and the term in writing before you commit."},{"q":"Where do I search for UCC liens in Maine?","a":"Use the Maine Secretary of State's online UCC service, run by the Bureau of Corporations, Elections and Commissions. The official debtor name search carries a fee, paid by credit card or an InforME account, and an unofficial free search shows name variations. Search the debtor's exact legal name, since Maine stopped ignoring words like Inc and LLC in 2013."},{"q":"How long does the State of Maine take to pay vendors?","a":"Under 5 M.R.S. §1553, a state agency must pay a proper invoice within 25 working days after the later of receiving the invoice or the goods or services, unless the contract sets another date. If it pays late, the vendor may charge a late fee no higher than its normal late charge. That predictable window makes state receivables a good fit for factoring."}],"sources":[{"label":"Maine Secretary of State, UCC online search and filing","url":"https://apps1.web.maine.gov/cgi-bin/online/ucc/index.pl"},{"label":"Maine Legislature, 5 M.R.S. §1553 (state agency payment date)","url":"https://legislature.maine.gov/statutes/5/title5sec1553.html"},{"label":"Maine Legislature, 10 M.R.S. §1114 (contractor payment to subs)","url":"https://legislature.maine.gov/statutes/10/title10sec1114.html"},{"label":"Levelset, Maine prompt payment law","url":"https://www.levelset.com/prompt-payment/maine-prompt-payment-law/"},{"label":"Levelset, Maine lien law FAQs","url":"https://www.levelset.com/mechanics-lien/maine-lien-law-faqs/"},{"label":"Maine Legislature, 14 M.R.S. §871 (public works bonds)","url":"https://legislature.maine.gov/statutes/14/title14sec871.html"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high for statutes (checked on the Maine Legislature site); medium on the disclosure finding, which rests on a March 2026 survey and searches showing no Maine bill passed; the 5 M.R.S. late fee and lien details come partly from Levelset summaries.","page_url":"/states/maine/"},{"code":"MD","name":"Maryland","verifiedOn":"2026-11-12","summary":"Maryland has no commercial financing disclosure law in effect: the Small Business Truth in Lending Act passed the Senate in 2025 and again in 2026 (SB 881) but never cleared the House. UCC-1s go to the State Department of Assessments and Taxation (SDAT), not a Secretary of State, and the payer base is dominated by federal agencies, defense installations, Johns Hopkins and the Port of Baltimore.","economy":{"paragraphs":["Maryland is a federal contracting state. Fort Meade (home of the National Security Agency and U.S. Cyber Command), Aberdeen Proving Ground, Joint Base Andrews, Naval Air Station Patuxent River and Fort Detrick anchor large prime and subcontract chains in IT, engineering, security and facilities work. Federal agencies such as the National Institutes of Health in Bethesda and the Social Security Administration in Woodlawn add civilian contracts. Johns Hopkins University and its health system, the Applied Physics Laboratory and the University of Maryland Medical System are major buyers, and the Port of Baltimore supports trucking, warehousing and customs brokerage firms.","Government contractors typically wait on prime contractors who wait on federal payment cycles, and fiscal-year-end and continuing-resolution delays can stretch receivables. The Port of Baltimore lost months of traffic after the Francis Scott Key Bridge collapse in March 2024. State agencies must pay within 30 days, with 9% interest on amounts unpaid more than 45 days after the invoice."],"metros":["Baltimore","Bethesda-Rockville (Montgomery County)","Columbia","Annapolis","Frederick"],"industries":["Federal IT and defense contracting","Healthcare and life sciences","Cybersecurity","Ports and logistics","Construction"],"federalInstallations":["Fort George G. Meade","Aberdeen Proving Ground","Joint Base Andrews","Naval Air Station Patuxent River","Fort Detrick"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"SB 881 (2026), retitled Licensing Requirements and Regulation of Commercial Financing, would have required disclosures, APR calculations and licensing through the Commissioner of Financial Regulation; it passed the Senate 42-0 but stalled in the House Economic Matters Committee, as did its cross-file HB 1007 and the 2025 versions (SB 754, HB 693). Watch for a 2027 reintroduction.","sourceUrl":"https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0881?ys=2026RS","thresholdUsd":null},"ucc":{"office":"Maryland State Department of Assessments and Taxation (SDAT), UCC Division, 700 E. Pratt St., Baltimore","searchUrl":"https://egov.maryland.gov/sdat/uccfiling/uccmainpage.aspx","notes":"SDAT says it does not perform record searches for the public (private search companies do), though its eGov portal offers online filing and search with small per-filing and per-search service fees."},"publicPromptPay":{"statute":"Md. Code, State Fin. & Proc. §§15-101 to 15-105","days":"Within 30 days after the payment due date in the contract or, if later, after the agency receives the invoice","interest":"9% per year on amounts unpaid more than 45 days after the agency receives the invoice, starting on day 31; the contractor must invoice for the interest within 30 days of the state's payment","notes":"On state construction, primes must pay subs undisputed amounts within 10 days of receiving payment (§15-226), and a procurement officer may impose a penalty of up to $100 per day for violations.","sourceUrl":"https://www.levelset.com/prompt-payment/maryland-prompt-payment-law/"},"privatePromptPay":{"statute":"Md. Code, Real Prop. §§9-301 to 9-305","ownerToContractor":"Undisputed amounts within 7 days after the payment date set in the contract; if the contract sets none, within 30 days after the occupancy permit or the owner takes possession, whichever is earlier","contractorToSub":"Undisputed amounts within 7 days after the contractor receives each payment","interest":"The statute sets no rate; interest runs from the date a court finds the amount was due, and attorney fees may be awarded for bad faith nonpayment","notes":null,"sourceUrl":"https://www.levelset.com/prompt-payment/maryland-prompt-payment-law/"},"lien":{"statute":"Md. Code, Real Prop. §9-101 et seq.","preliminaryNotice":"Subcontractors must give the owner written notice of intent to claim a lien within 120 days after doing the work or furnishing the materials (§9-104), by certified mail or personal delivery","claimDeadline":"File a petition to establish the lien in circuit court within 180 days after the work is finished or materials furnished (§9-105)","enforceDeadline":"1 year from the day the petition to establish the lien was first filed (§9-109)","sourceUrl":"https://www.levelset.com/mechanics-lien/maryland-lien-law-faqs/"},"publicBond":{"statute":"Md. Code, State Fin. & Proc. §17-101 et seq. (Little Miller Act)","threshold":"Construction contracts above the small procurement amount: generally over $100,000 (over $200,000 for DGS and MDOT construction); payment security of at least 50% of the contract; local public bodies may require it on contracts over $100,000","claimNotice":"Suppliers with no contract with the prime must give written notice to the contractor by certified mail within 90 days after last supplying labor or materials (§17-108(b))","sourceUrl":"https://mgaleg.maryland.gov/2026RS/Statute_Web/gsf/17-108.pdf"},"other":["UCC filings in Maryland go to SDAT, a tax and assessment agency, rather than the Secretary of State.","Maryland's Senate has twice passed a commercial financing disclosure and licensing bill (2025 and 2026); if it passes, it is set up to be enforced by the Commissioner of Financial Regulation."],"faqs":[{"q":"Is invoice factoring legal in Maryland?","a":"Yes. Factoring is a sale of accounts receivable, and under Maryland's version of UCC Article 9 the factor perfects its interest by filing a UCC-1 with SDAT. No Maryland statute requires a factoring license or a special disclosure today. Federal contractors should also follow the federal Assignment of Claims Act if a factor will be paid directly by a federal agency."},{"q":"Does Maryland require a disclosure for factoring deals?","a":"Not as of November 2026. The Small Business Truth in Lending Act (SB 881 in 2026, SB 754 in 2025) would have required APR-style disclosures and licensing for commercial financing providers, and it passed the Senate both years, but it did not pass the House. Check for a 2027 version before you sign a long-term facility."},{"q":"Where do I search for UCC liens in Maryland?","a":"Maryland UCC records are kept by the State Department of Assessments and Taxation (SDAT), not a Secretary of State. SDAT's eGov portal handles online filing and search, with small service fees. SDAT itself does not run searches for the public, so many lenders order reports from private search firms."},{"q":"How fast do Maryland state agencies pay contractors?","a":"Under State Finance and Procurement §15-103, agencies must pay within 30 days after the contract's payment date or receipt of the invoice, whichever is later. If an invoice stays unpaid more than 45 days, 9% annual interest accrues from day 31, but you must bill the interest within 30 days of the state's check. On state construction, primes must pay subs within 10 days."}],"sources":[{"label":"Maryland General Assembly, SB 881 (2026)","url":"https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0881?ys=2026RS"},{"label":"Maryland General Assembly, HB 1007 (2026)","url":"https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1007?ys=2026RS"},{"label":"Maryland SDAT, UCC filing statements","url":"https://dat.maryland.gov/businesses/Pages/UCC-Filing-Statements.aspx"},{"label":"Levelset, Maryland prompt payment law","url":"https://www.levelset.com/prompt-payment/maryland-prompt-payment-law/"},{"label":"Levelset, Maryland lien law FAQs","url":"https://www.levelset.com/mechanics-lien/maryland-lien-law-faqs/"},{"label":"Maryland Code, State Fin. & Proc. §17-103","url":"https://mgaleg.maryland.gov/2026RS/Statute_Web/gsf/17-103.pdf"},{"label":"Maryland Code, State Fin. & Proc. §17-108","url":"https://mgaleg.maryland.gov/2026RS/Statute_Web/gsf/17-108.pdf"},{"label":"Maryland Code, State Fin. & Proc. §13-109 (small procurement)","url":"https://mgaleg.maryland.gov/2026RS/Statute_Web/gsf/13-109.pdf"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high on disclosure status and bond rules (official bill pages and statute PDFs); the 2026 bill pages still show a March House hearing as the last action, and the session ended in April without passage. Prompt pay and lien figures come from Levelset statute excerpts and were not re-checked against the Real Property and State Finance code PDFs.","page_url":"/states/maryland/"},{"code":"MA","name":"Massachusetts","verifiedOn":"2026-11-12","summary":"Massachusetts has no commercial financing disclosure law, so factoring here runs on contract terms and the UCC, with UCC-1s filed with the Secretary of the Commonwealth's Corporations Division. Big receivables come from hospitals, universities, life sciences companies, defense contractors and a state government that pays on a standard 45-day cycle.","economy":{"paragraphs":["Massachusetts receivables cluster around research, healthcare and defense. Mass General Brigham, Beth Israel Lahey Health and UMass Memorial buy staffing, lab services and facility work, while Harvard, MIT and other universities contract for construction and research support. Biotech and pharma companies in Cambridge and the Route 128 corridor rely on contract research, manufacturing and lab-supply vendors. Defense work centers on Hanscom Air Force Base and the Army's research center in Natick, plus large defense electronics plants. Conley Terminal in South Boston and the New Bedford fishing port support logistics and seafood suppliers.","Large institutional buyers often pay on 45 to 60 day terms, and the Commonwealth itself pays within 45 days of an approved invoice when the contract sets no date. Construction is a major factoring use case: private projects of $3M or more follow a statutory payment schedule, and public projects follow Chapter 30 rules with interest tied to the Federal Reserve discount rate. Fishing, tourism on Cape Cod and the Islands, and cranberry harvests add seasonal swings."],"metros":["Boston","Worcester","Springfield","Cambridge","Lowell"],"industries":["Life sciences and biotech","Healthcare services","Higher education","Defense and aerospace electronics","Construction","Seafood and fishing"],"federalInstallations":["Hanscom Air Force Base","Natick Soldier Systems Center","Westover Air Reserve Base","Joint Base Cape Cod"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Massachusetts commercial financing disclosure statute was found, and a March 2026 multistate survey of these laws does not list Massachusetts.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Secretary of the Commonwealth, Corporations Division (UCC Section), Boston","searchUrl":"https://corp.sec.state.ma.us/CorpWeb/UCCSearch/UCCSearch.aspx","notes":null},"publicPromptPay":{"statute":"M.G.L. c. 29, §29C; 815 CMR 4.00","days":"On the contract date or, if none, not more than 45 days after receipt of a properly approved invoice","interest":"Late penalty interest at a rate reset each January 1 and July 1 to match the Federal Reserve Bank of Boston discount rate","notes":"Does not apply to cities and towns. Public construction follows M.G.L. c. 30, §§39F to 39K: progress payments within 15 days of a periodic estimate (30 days for the Commonwealth), final payment within 65 days of substantial completion, and interest at 3 points above the Boston Fed rediscount rate.","sourceUrl":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIII/Chapter29/Section29C"},"privatePromptPay":{"statute":"M.G.L. c. 149, §29E","ownerToContractor":"On projects with an original contract price of $3M or more (excluding 1 to 4 unit residential), the owner has 15 days to approve or reject a payment application and must pay within 45 days after approval","contractorToSub":"Each lower tier gets 7 more days to approve or reject, then pays within 45 days after approval","interest":"The statute sets no rate; contract terms or the general contract interest rate apply","notes":"Private projects under $3M have no statutory payment schedule.","sourceUrl":"https://www.levelset.com/prompt-payment/massachusetts-prompt-payment-law/"},"lien":{"statute":"M.G.L. c. 254","preliminaryNotice":"Lower-tier subs and suppliers should send a notice of identification to the general contractor by certified mail within 30 days of starting work, or their lien is capped (§4)","claimDeadline":"Record a notice of contract by the earliest of 60 days after a notice of substantial completion, 90 days after a notice of termination, or 90 days after last furnishing; then record a statement of account by the earliest of 90 days after substantial completion notice, 120 days after termination notice, or 120 days after last furnishing (§§4, 8)","enforceDeadline":"Sue within 90 days after filing the statement of account, and record an attested copy of the complaint within 30 days after filing suit (§§5, 11)","sourceUrl":"https://www.levelset.com/mechanics-lien/massachusetts-lien-law-faqs/"},"publicBond":{"statute":"M.G.L. c. 149, §29","threshold":"Public construction contracts over $25,000; bond of at least 50% of the contract price","claimNotice":"Claimants without a direct contract with the general contractor must send written notice by registered or certified mail within 65 days after last furnishing labor or materials; suit within 1 year after last furnishing","sourceUrl":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXI/Chapter149/Section29"},"other":["The Comptroller runs a prompt payment discount program in which state departments take discounts from vendors that offer early-payment terms (about $18.7M saved in FY2025), a cost to compare against factoring fees.","Massachusetts mechanics liens follow a two-step filing process (notice of contract, then statement of account) with short deadlines."],"faqs":[{"q":"Is invoice factoring legal in Massachusetts?","a":"Yes. Factoring is a sale of accounts receivable, and under Massachusetts' version of UCC Article 9 the factor perfects its interest by filing a UCC-1 with the Secretary of the Commonwealth. Massachusetts has no license or disclosure law aimed at commercial factoring, so the contract governs fees, recourse and reserves. Check whether your customer contracts restrict assignment."},{"q":"Does Massachusetts require a disclosure for factoring deals?","a":"No. As of November 2026 Massachusetts has not enacted a commercial financing disclosure law like those in New York or California, and recent multistate surveys do not list it. Ask any provider for the full fee schedule, advance rate, reserve release terms and term length in writing before you sign."},{"q":"Where do I search for UCC liens in Massachusetts?","a":"Use the UCC public search run by the Secretary of the Commonwealth's Corporations Division, which covers financing statements filed with the state. Search the debtor's exact legal name. Financing statements stay in the system until at least a year after they lapse, so you may see older filings that no longer have legal effect."},{"q":"How long does the Commonwealth of Massachusetts take to pay invoices?","a":"State agencies pay on the contract date or, if none is set, within 45 days of a properly approved invoice (M.G.L. c. 29, §29C). Late payments earn penalty interest at a rate tied to the Boston Fed discount rate, reset twice a year. The Comptroller also runs a prompt payment discount program for vendors that offer early-pay terms, so compare that cost with factoring."}],"sources":[{"label":"Massachusetts General Laws, c. 29, §29C (state payment and late interest)","url":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIII/Chapter29/Section29C"},{"label":"Massachusetts General Laws, c. 149, §29 (public works bonds)","url":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXI/Chapter149/Section29"},{"label":"Secretary of the Commonwealth, UCC public search","url":"https://corp.sec.state.ma.us/CorpWeb/UCCSearch/UCCSearch.aspx"},{"label":"Massachusetts Comptroller, prompt payment discounts","url":"https://www.macomptroller.org/prompt-payment-discounts/"},{"label":"Levelset, Massachusetts prompt payment law","url":"https://www.levelset.com/prompt-payment/massachusetts-prompt-payment-law/"},{"label":"Levelset, Massachusetts lien law FAQs","url":"https://www.levelset.com/mechanics-lien/massachusetts-lien-law-faqs/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"medium: statutes for state payment and bonds checked on malegislature.gov; the UCC search page blocks automated access, so its details come from search results; the c. 149 §29E and c. 254 details come from Levelset statute excerpts; disclosure status rests on a March 2026 survey and no enacted bill found.","page_url":"/states/massachusetts/"},{"code":"MI","name":"Michigan","verifiedOn":"2026-11-12","summary":"Michigan has no commercial financing disclosure law, so factoring here is governed by contract and the UCC, with UCC-1s filed and searched online with the Michigan Department of State. The receivables base is the auto industry's tiered supply chain, plus hospital systems, defense vehicle programs and state agencies that must pay within 45 days or owe 0.75% per month.","economy":{"paragraphs":["Michigan factoring starts with the automotive supply chain. General Motors, Ford and Stellantis buy from hundreds of tier 1, tier 2 and tier 3 suppliers of stampings, castings, plastics, electronics and tooling, and those suppliers in turn buy from machine shops and logistics firms across southeast and west Michigan. The Detroit Arsenal in Warren manages Army ground vehicle programs that feed defense manufacturers. Corewell Health, Henry Ford Health and Michigan Medicine are large buyers of staffing and services, and the Ambassador Bridge and other Detroit River crossings make cross-border trucking and customs brokerage a major industry.","Auto suppliers often carry long OEM payment terms, and model changeovers, retooling and labor disputes can stall cash for months. Office furniture makers in west Michigan, agriculture (tart cherries, blueberries, apples) and Upper Peninsula mining and timber add their own cycles. Construction subcontractors have no private prompt pay statute and rely on the Construction Lien Act, which requires a notice of furnishing within 20 days."],"metros":["Detroit","Grand Rapids","Lansing","Ann Arbor","Flint","Kalamazoo"],"industries":["Automotive OEM and supplier manufacturing","Defense vehicle manufacturing","Healthcare services","Logistics and cross-border trucking","Office furniture manufacturing","Agriculture and food processing"],"federalInstallations":["Detroit Arsenal","Selfridge Air National Guard Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Michigan commercial financing disclosure statute was found, and a March 2026 multistate survey of these laws does not list Michigan.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Michigan Department of State (Secretary of State), Uniform Commercial Code Section, Lansing","searchUrl":"https://ucc.michigan.gov/","notes":"Official UCC-11 searches are run through the online portal with a MiLogin account, and the state also offers a free debtor name quick search."},"publicPromptPay":{"statute":"MCL 17.51 to 17.57 (1984 PA 279, payments to private enterprises)","days":"Payment mailed within 45 days after the latest of receipt of the goods or services, a complete invoice, or a complete contract, unless otherwise agreed in writing","interest":"0.75% of the past-due amount for each month or part of a month, with no request needed from the vendor","notes":"Applies to principal executive departments. Public construction contracts of $30,000 or more with local public agencies follow MCL 125.1561 et seq. (progress payments within 30 days of certification, with reasonable interest on late amounts); MDOT, school districts and community colleges are excluded from that act.","sourceUrl":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-17-54"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Michigan has no general private construction prompt payment statute; payment timing and late charges are set by contract.","sourceUrl":"https://www.levelset.com/prompt-payment/michigan-prompt-payment-law/"},"lien":{"statute":"Construction Lien Act, MCL 570.1101 et seq.","preliminaryNotice":"Subcontractors and suppliers must serve a notice of furnishing on the owner's designee and the general contractor within 20 days after first furnishing (MCL 570.1109); late notice limits but does not always defeat the lien","claimDeadline":"Record a claim of lien with the county register of deeds within 90 days after last furnishing labor or materials","enforceDeadline":"Action to enforce within 1 year after recording the claim of lien","sourceUrl":"https://www.levelset.com/mechanics-lien/michigan-lien-law-faqs/"},"publicBond":{"statute":"MCL 129.201 et seq.","threshold":"Public construction contracts over $50,000 (performance and payment bonds)","claimNotice":"Claimants without a direct contract with the prime must give the prime written notice within 30 days after first furnishing, and notice to the prime and the governmental unit within 90 days after last furnishing, both by certified mail (MCL 129.207)","sourceUrl":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-129-207"},"other":["State agency late payments carry an automatic 0.75% monthly penalty under MCL 17.54, which makes Michigan state receivables relatively predictable.","On residential projects, only licensed residential builders and maintenance and alteration contractors have lien rights under the Construction Lien Act."],"faqs":[{"q":"Is invoice factoring legal in Michigan?","a":"Yes. Factoring is a sale of accounts receivable, and under Michigan's version of UCC Article 9 the factor perfects its interest by filing a UCC-1 with the Michigan Department of State. Michigan has no license or disclosure law aimed at commercial factoring. Auto suppliers should check OEM purchase terms, which may limit assignment or require notice before payments are redirected."},{"q":"Does Michigan require a disclosure for factoring deals?","a":"No. As of November 2026 Michigan has not enacted a commercial financing disclosure law, and recent multistate surveys of these laws do not list Michigan. The written agreement controls, so get the advance rate, discount fee, reserve release timing, minimums and termination terms in writing before you sign."},{"q":"Where do I search for UCC liens in Michigan?","a":"Use the Michigan Department of State's UCC portal at ucc.michigan.gov, which requires a MiLogin account for official UCC-11 searches. The state charges a small fee per debtor name and also offers a free debtor name quick search. Search the debtor's exact legal name, and order copies of any filings that look relevant to see the collateral described."},{"q":"I am a tier 2 auto supplier. Can I factor invoices owed by a tier 1 supplier?","a":"Usually yes. Factors look mainly at the credit of your customer, so invoices to large tier 1 suppliers often qualify even if your business is young. Check your purchase orders for anti-assignment or setoff clauses, and expect the factor to verify invoices and send a notice of assignment. Long OEM-driven payment terms are a common reason Michigan suppliers factor."}],"sources":[{"label":"Michigan Legislature, MCL 17.52 (state payment deadline)","url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-17-52"},{"label":"Michigan Legislature, MCL 17.54 (late payment penalty)","url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-17-54"},{"label":"Michigan Legislature, MCL 129.201 (public works bonds)","url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-129-201"},{"label":"Michigan Legislature, MCL 129.207 (bond claim notices)","url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-129-207"},{"label":"Michigan Department of State, Uniform Commercial Code","url":"https://www.michigan.gov/sos/industry-services/ucc"},{"label":"Levelset, Michigan lien law FAQs","url":"https://www.levelset.com/mechanics-lien/michigan-lien-law-faqs/"},{"label":"Levelset, Michigan prompt payment law","url":"https://www.levelset.com/prompt-payment/michigan-prompt-payment-law/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high for state payment and bond statutes (Michigan Legislature site); medium for lien deadlines (90-day claim and 1-year enforcement taken from Levelset, exact subsections not opened) and the disclosure finding (March 2026 survey, no enacted bill found).","page_url":"/states/michigan/"},{"code":"MN","name":"Minnesota","verifiedOn":"2026-11-12","summary":"Minnesota has no commercial financing disclosure law, so factoring here runs on contract terms and the UCC, with UCC-1s filed with the Office of the Minnesota Secretary of State. Minnesota stands out for one consistent late-payment rule: 1.5% per month applies to late state agency bills, local government bills and construction pass-through payments to subcontractors.","economy":{"paragraphs":["Minnesota's B2B receivables come from a deep bench of headquarters and health systems. Mayo Clinic in Rochester, Allina Health, Fairview and Essentia buy staffing, equipment service and facility work, while medical device makers such as Medtronic and a large contract manufacturing base around the Twin Cities pull in machine shops and component suppliers. Corporate buyers including Target, 3M, General Mills, Cargill, Best Buy and UnitedHealth Group set payment terms for thousands of vendors. Agriculture and food processing span the southern half of the state, Iron Range taconite mines buy heavy equipment service, and the Port of Duluth-Superior ships grain and ore.","Large corporate buyers often impose extended payment terms on small suppliers, which is a common reason to factor. Agriculture runs on harvest-season cash cycles, and construction is compressed into a short building season with winter slowdowns. State agencies must pay within 30 days and local governments within 35 days (45 days for boards that meet less than monthly), with 1.5% monthly interest on late undisputed bills."],"metros":["Minneapolis","Saint Paul","Rochester","Duluth","St. Cloud"],"industries":["Medical devices and health technology","Healthcare services","Food processing and agribusiness","Contract manufacturing","Mining (taconite)","Retail and consumer goods supply"],"federalInstallations":["Minneapolis-St. Paul Air Reserve Station"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Minnesota commercial financing disclosure statute was found, and a March 2026 multistate survey of these laws does not list Minnesota.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Office of the Minnesota Secretary of State, Business and Lien Services, Saint Paul","searchUrl":"https://mblsportal.sos.mn.gov/","notes":"The portal offers paid standard and limited UCC search reports and a free search by file number."},"publicPromptPay":{"statute":"Minn. Stat. §16A.124 (state agencies); §471.425 (local governments)","days":"State agencies: within 30 days after receipt of the invoice for completed delivery (or within an early-payment discount period). Local governments: 35 days, or 45 days if the governing board meets less than monthly.","interest":"1.5% per month or part of a month on undisputed bills, with a $10 monthly minimum on balances of $100 or more","notes":"Under §16A.124, no interest penalties accrue against a state agency for contractor claims under a construction contract; primes on state and local projects must pay subs within 10 days of receiving payment, at 1.5% per month if late.","sourceUrl":"https://www.revisor.mn.gov/statutes/cite/16A.124"},"privatePromptPay":{"statute":"Minn. Stat. §337.10","ownerToContractor":"Progress payments monthly based on approved estimates, unless the contract provides otherwise; retainage capped at 5% and released within 60 days after substantial completion","contractorToSub":"Within 10 days of receiving payment for undisputed work","interest":"1.5% per month on undisputed amounts paid late ($10 monthly minimum on balances of $100 or more)","notes":"The prevailing party in a suit to collect the interest recovers attorney fees, and an unpaid sub may suspend work; public agencies are excluded from the progress payment rules in subdivision 4.","sourceUrl":"https://www.revisor.mn.gov/statutes/cite/337.10"},"lien":{"statute":"Minn. Stat. §514.01 et seq.","preliminaryNotice":"Claimants without a direct contract with the owner must give a prelien notice within 45 days after first furnishing (§514.011, subd. 2), except on larger nonresidential projects (more than 5,000 usable square feet), residential buildings with more than 4 units, and related-party projects","claimDeadline":"File the lien statement with the county recorder (or registrar of titles) and serve it on the owner within 120 days after last furnishing (§514.08)","enforceDeadline":"Suit within 1 year after the last item of work or materials","sourceUrl":"https://www.levelset.com/mechanics-lien/minnesota-lien-law-faqs/"},"publicBond":{"statute":"Minn. Stat. §§574.26 to 574.31","threshold":"Public contracts at or above the formal bid threshold in §471.345, subd. 3 (contracts estimated over $175,000); bond generally for at least the contract price","claimNotice":"Written notice to the surety and contractor within 120 days after the claimant's last labor or materials, by personal service or certified mail; suit within 1 year of the last furnishing stated in the notice (§574.31)","sourceUrl":"https://www.revisor.mn.gov/statutes/cite/574.31"},"other":["Minnesota voids construction contract clauses that require a contractor or sub to waive lien or payment bond rights before being paid, and clauses that move disputes or governing law out of state (§337.10).","The 1.5% monthly late-payment rate appears across state agency, local government and construction pass-through statutes."],"faqs":[{"q":"Is invoice factoring legal in Minnesota?","a":"Yes. Factoring is a sale of accounts receivable, and under Minnesota's version of UCC Article 9 the factor perfects its interest by filing a UCC-1 with the Secretary of State. Minnesota has no license or disclosure law aimed at commercial factoring, so the agreement controls fees, reserves and recourse. Check customer contracts for anti-assignment or setoff terms."},{"q":"Does Minnesota require a disclosure for factoring deals?","a":"No. As of November 2026 Minnesota has not enacted a commercial financing disclosure law, and recent multistate surveys of these laws do not list it. Ask any provider to put the advance rate, discount fee schedule, minimum volume, reserve release timing and termination terms in writing before you sign."},{"q":"Where do I search for UCC liens in Minnesota?","a":"Use the Minnesota Secretary of State's Business and Lien System portal at mblsportal.sos.mn.gov. You can order a paid standard or limited UCC search report on a debtor name, with or without copies, or look up a specific filing free by file number. Search the debtor's exact legal name as registered."},{"q":"How fast must Minnesota public agencies pay my invoices?","a":"State agencies must pay within 30 days of receiving an invoice for completed work (Minn. Stat. §16A.124), and cities, counties and school districts within 35 days, or 45 days if their board meets less than monthly (§471.425). Late undisputed bills earn 1.5% per month, with a $10 monthly minimum on balances of $100 or more."}],"sources":[{"label":"Minnesota Statutes §16A.124 (state agency prompt pay)","url":"https://www.revisor.mn.gov/statutes/cite/16A.124"},{"label":"Minnesota Statutes §337.10 (construction contract payments)","url":"https://www.revisor.mn.gov/statutes/cite/337.10"},{"label":"Minnesota Statutes §574.26 (public works bonds)","url":"https://www.revisor.mn.gov/statutes/cite/574.26"},{"label":"Minnesota Statutes §574.31 (bond claim notice and suit)","url":"https://www.revisor.mn.gov/statutes/cite/574.31"},{"label":"Minnesota Statutes §471.345 (formal bid threshold)","url":"https://www.revisor.mn.gov/statutes/cite/471.345"},{"label":"Levelset, Minnesota prompt payment law","url":"https://www.levelset.com/prompt-payment/minnesota-prompt-payment-law/"},{"label":"Levelset, Minnesota lien law FAQs","url":"https://www.levelset.com/mechanics-lien/minnesota-lien-law-faqs/"},{"label":"Minnesota Secretary of State, Business and Lien System portal","url":"https://mblsportal.sos.mn.gov/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high for prompt pay and bond statutes (Minnesota Revisor site); medium for lien details (Levelset, with the 1-year enforcement section not opened) and the disclosure finding (March 2026 survey, no enacted bill found). The Secretary of State's main UCC page blocks automated access, so UCC details come from the portal and search results.","page_url":"/states/minnesota/"},{"code":"MS","name":"Mississippi","verifiedOn":"2026-11-12","summary":"Mississippi has no commercial financing disclosure law (bills in 2022 and 2023 died in committee), so factoring terms here are set by contract. UCC-1 filings go to the Secretary of State, and the payer base leans on shipbuilding, automotive assembly, military bases, poultry and Gulf Coast ports.","economy":{"paragraphs":["Mississippi's largest B2B payers are defense and manufacturing. Ingalls Shipbuilding in Pascagoula is the state's biggest private employer and buys from a wide ring of fabricators, staffing firms and marine suppliers. The Nissan plant in Canton and the Toyota plant in Blue Springs anchor automotive supply chains. Keesler, Columbus and Meridian bases, the Seabee center in Gulfport, Camp Shelby and NASA's Stennis Space Center buy local services. Poultry processors, timber and paper mills, and the ports of Gulfport and Pascagoula create steady trucking and logistics receivables. Gulf Coast and Tunica casinos add hospitality vendors.","Federal and shipyard subcontractors often wait 45 to 60 days or more for payment as prime contractor billing works through. Agriculture (poultry, catfish, cotton, soybeans) and timber are seasonal and weather driven, and hurricane season can disrupt Coast operations. State agencies have 45 days to pay vendors before interest runs."],"metros":["Jackson","Gulfport-Biloxi","Hattiesburg","Southaven"],"industries":["Shipbuilding and defense","Automotive manufacturing","Poultry and food processing","Timber and paper","Trucking and port logistics"],"federalInstallations":["Keesler Air Force Base","Columbus Air Force Base","Naval Air Station Meridian","Naval Construction Battalion Center Gulfport","Camp Shelby","John C. Stennis Space Center"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing disclosure law is in effect or enacted. Bills to create one (HB 1178 and SB 2629 in 2022, HB 1271 in 2023, which would have covered accounts receivable purchases) died in committee.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Mississippi Secretary of State, Business Services (UCC)","searchUrl":"https://www.sos.ms.gov/business-services/uniform-commercial-code/ucc-search","notes":"A free public search shows basic debtor and secured party information; viewing filed document images and detailed searches requires a paid subscription."},"publicPromptPay":{"statute":"Miss. Code Ann. §31-7-305","days":"45 days after receipt of the invoice and receipt, inspection and approval of the goods or services","interest":"1.5% per month (or portion of a month) on the unpaid balance after the 45 day period","notes":"Interest applies to undisputed amounts; bona fide disputes must be settled within 30 days after payment would have been due. On public construction (§31-5-25 and §31-5-27), progress payments unpaid 45 days after due bear 1% per month, and primes must pay subs within 15 days of receiving payment or face a 0.5% per day penalty capped at 15%.","sourceUrl":"https://codes.findlaw.com/ms/title-31-public-business-bonds-and-obligations/ms-code-sect-31-7-305/"},"privatePromptPay":{"statute":"Miss. Code Ann. §87-7-1 et seq. (§87-7-3, §87-7-5)","ownerToContractor":"Progress payments due per the contract; interest starts if unpaid 30 days after the due date. Final payment generally due on completion, beneficial occupancy or architect certification.","contractorToSub":"Upon receipt of owner payment, in proportion to work completed; a penalty applies if unpaid within 15 days without reasonable cause","interest":"Owner to contractor: 1% per month. Contractor to sub: 0.5% per day penalty, capped at 15% of the balance.","notes":"The sub payment rule does not apply to single-family dwelling contracts.","sourceUrl":"https://www.levelset.com/prompt-payment/mississippi-prompt-payment-faqs/"},"lien":{"statute":"Miss. Code Ann. §85-7-401 et seq.","preliminaryNotice":"Generally, a claimant without a contract with the general contractor must give the general contractor written notice within 30 days of first furnishing (§85-7-407). Single-family residential projects use a pre-lien notice to the owner at least 10 days before filing instead.","claimDeadline":"Within 90 days after the claimant's last work or materials, filed with the county chancery clerk","enforceDeadline":"Suit within 180 days after the lien is filed (can be cut to 90 days if the owner records a notice of contest)","sourceUrl":"https://www.levelset.com/mechanics-lien/mississippi-lien-law-faqs/"},"publicBond":{"statute":"Miss. Code Ann. §31-5-51","threshold":"Payment bond generally required; contracts under $25,000 paid in a lump sum at completion may skip the bond","claimNotice":"Claimants with a contract with a subcontractor but not the prime must give written notice to the prime within 90 days of last furnishing; suit within 1 year of last furnishing (§31-5-53)","sourceUrl":"https://www.levelset.com/bond-claim/mississippi-bond-claim-faqs/"},"other":["Mississippi mechanics liens are filed with the county chancery clerk, not a recorder or register of deeds."],"faqs":[{"q":"Is invoice factoring legal in Mississippi?","a":"Yes. Factoring is a sale of accounts governed by Mississippi's version of UCC Article 9, and the buyer perfects its interest with a UCC-1 filing at the Secretary of State. Mississippi has no factoring-specific license or disclosure statute, so the price, advance rate, recourse terms and notice to your customers are set by the contract you sign."},{"q":"Does Mississippi require a disclosure for factoring deals?","a":"No. Mississippi has not enacted a commercial financing disclosure law. Bills introduced in 2022 and 2023, including one that would have covered accounts receivable purchases, died in committee. Ask any factor for the total cost in dollars and the fee schedule in writing so you can compare offers on your own."},{"q":"Where do I search for UCC liens in Mississippi?","a":"Use the Mississippi Secretary of State's UCC search on sos.ms.gov. The free public search shows basic debtor and secured party details for each filing. Viewing images of the filed documents requires a paid subscription. Search your exact legal name to find any existing blanket lien on receivables before you sign with a factor."},{"q":"How long do Mississippi state agencies take to pay invoices?","a":"Under Miss. Code §31-7-305, public bodies that write their own checks must pay within 45 days after receiving the invoice and accepting the goods or services. Late undisputed amounts earn 1.5% per month. Shipyard and federal subcontractors often wait longer, so Gulf Coast vendors commonly factor those invoices."}],"sources":[{"label":"FindLaw, Miss. Code §31-7-305 (timely payment by public bodies)","url":"https://codes.findlaw.com/ms/title-31-public-business-bonds-and-obligations/ms-code-sect-31-7-305/"},{"label":"Mississippi Legislature, HB 1271 (2023) bill history","url":"https://billstatus.ls.state.ms.us/2023/pdf/history/HB/HB1271.xml"},{"label":"Mississippi Legislature, HB 1271 (2023) text","url":"https://billstatus.ls.state.ms.us/documents/2023/html/HB/1200-1299/HB1271IN.htm"},{"label":"Levelset, Mississippi prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/mississippi-prompt-payment-faqs/"},{"label":"Levelset, Mississippi lien law FAQs","url":"https://www.levelset.com/mechanics-lien/mississippi-lien-law-faqs/"},{"label":"Levelset, Mississippi bond claim FAQs","url":"https://www.levelset.com/bond-claim/mississippi-bond-claim-faqs/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high on prompt pay, lien and bond rules; medium on UCC details, because the sos.ms.gov UCC pages blocked automated access (search URL and free vs subscription split come from the official site's search listing); the 2022 bill outcomes come from search listings, the 2023 outcome from the Legislature's bill history.","page_url":"/states/mississippi/"},{"code":"MO","name":"Missouri","verifiedOn":"2026-11-12","summary":"Missouri has a commercial financing disclosure law (RSMo 427.300) that expressly covers accounts receivable purchase transactions of $500,000 or less, so most factoring offers to Missouri businesses must come with a written cost disclosure. UCC-1 filings go to the Secretary of State's UCC Division, and the payer base is heavy with automotive assembly, aerospace and defense, healthcare and agribusiness.","economy":{"paragraphs":["Missouri receivables come from a mix of manufacturing, defense, healthcare and agriculture. Boeing's St. Louis defense operations, the Ford Kansas City Assembly Plant in Claycomo and the GM plant in Wentzville pull in a deep tier of parts suppliers, machine shops and freight carriers. The Kansas City National Security Campus, Whiteman Air Force Base and Fort Leonard Wood buy from local contractors and service firms. Large hospital systems such as BJC HealthCare and Mercy, plus headquarters like Centene, Edward Jones and Emerson, create steady work for staffing, IT and facilities vendors. Two big river ports and the I-70 and I-44 corridors make trucking and warehousing a major factoring segment.","Automotive and aerospace suppliers commonly see 45 to 90 day terms from tier 1 buyers, and federal subcontractors wait on prime contractor billing cycles. Agriculture (corn, soybeans, cattle, hogs) and food processing bring seasonal swings around harvest. Construction subcontractors face retainage and the state's 6 month lien window, which is why many factor progress billings."],"metros":["Kansas City","St. Louis","Springfield","Columbia"],"industries":["Automotive and aerospace manufacturing","Trucking, logistics and warehousing","Healthcare services","Agriculture and food processing","Construction"],"federalInstallations":["Whiteman Air Force Base","Fort Leonard Wood","Kansas City National Security Campus"]},"disclosure":{"status":"in_effect","name":"Missouri Commercial Financing Disclosure Law","citation":"RSMo 427.300","billOrAct":"SB 1359 (2024)","effective":"2025-02-28","threshold":"Transactions of $500,000 or less; applies to providers that consummate more than 5 commercial financing transactions with Missouri businesses in a calendar year","coversFactoring":true,"aprRequired":false,"registration":"Commercial financing brokers must register with the Missouri Division of Finance ($100 initial fee, $50 annual renewal due January 31) and keep a $10,000 surety bond on file. Providers themselves do not register.","exemptions":"Depository institutions and their affiliates, Farm Credit lenders, real estate secured deals, leases, licensed money transmitters, providers with 5 or fewer Missouri deals a year, deals over $500,000, certain vehicle dealer and patient injury receivable deals, and (since 2025) premium finance agreements.","enforcement":"Enforced exclusively by the Missouri attorney general; no private right of action. Penalties are $500 per incident (capped at $20,000) and $1,000 per incident (capped at $50,000) after a prior AG notice. A violation does not void the financing contract.","notes":"Required disclosures are dollar figures (funds provided, funds disbursed, total of payments, total cost of financing, payment amounts and prepayment terms), not an APR. The statute says a provider's characterization of a receivables deal as a purchase is conclusive that it is not a loan.","sourceUrl":"https://revisor.mo.gov/main/OneSection.aspx?section=427.300","thresholdUsd":500000},"ucc":{"office":"Missouri Secretary of State, Uniform Commercial Code Division (Jefferson City)","searchUrl":"https://bsd.sos.mo.gov/LoginWelcome.aspx?lobID=0","notes":"Filing and searching run through the Secretary of State's Missouri Business Filings system; certified searches can be ordered online."},"publicPromptPay":{"statute":"RSMo 34.055 (state agency purchases); RSMo 34.057 (public construction)","days":"Generally 30 days after the later of delivery or receipt of a proper invoice; interest is owed if the bill is still unpaid after the 45th day","interest":"Prime rate plus 3 percentage points, retroactive to the 30th day, on unpaid balances after day 45 (state agency purchases). Public construction: 1.5% per month on late payments to subs and suppliers.","notes":"On public construction, the owner generally pays the contractor within 30 days and the contractor pays subs and suppliers within 15 days of receiving payment. Good faith withholding is excused.","sourceUrl":"https://revisor.mo.gov/main/OneSection.aspx?section=34.055"},"privatePromptPay":{"statute":"RSMo 431.180","ownerToContractor":"Per the contract's payment schedule; the statute sets no fixed number of days","contractorToSub":"Per the contract's payment schedule; the statute sets no fixed number of days","interest":"Court may award up to 1.5% per month from the date payment was due, plus attorney fees to the prevailing party","notes":"Does not apply to owner-occupied residential property of 4 units or less.","sourceUrl":"https://revisor.mo.gov/main/OneSection.aspx?section=431.180"},"lien":{"statute":"RSMo 429.005 et seq.","preliminaryNotice":"Original contractors must give the owner a written Notice to Owner before receiving payment. Subcontractors and suppliers must send a Notice of Intent to Lien at least 10 days before filing. On owner-occupied residential projects of 4 units or less, subs and suppliers need the owner's signed consent.","claimDeadline":"Generally within 6 months after the claimant last furnished labor or materials","enforceDeadline":"Suit generally within 6 months after the lien is filed","sourceUrl":"https://www.levelset.com/mechanics-lien/missouri-lien-law-faqs/"},"publicBond":{"statute":"RSMo 107.170","threshold":"Public works contracts estimated to exceed $50,000","claimNotice":"Remote suppliers must give the contractor written notice of nonpayment within 90 days of their last delivery; other claimants follow the bond's terms","sourceUrl":"https://revisor.mo.gov/main/OneSection.aspx?section=107.170"},"other":["Commercial financing brokers who arrange factoring for Missouri businesses for a fee must be registered with the Division of Finance and bonded before acting as a broker."],"faqs":[{"q":"Is invoice factoring legal in Missouri?","a":"Yes. Missouri law treats a sale of receivables at a discount as an accounts receivable purchase transaction, and RSMo 427.300 says a provider's characterization of the deal as a purchase is conclusive that it is not a loan. Factoring is regulated mainly through the state's disclosure law, which applies to deals of $500,000 or less from providers doing more than 5 Missouri deals a year. Banks and their affiliates are exempt."},{"q":"Does Missouri require a disclosure for factoring deals?","a":"Yes, for most deals of $500,000 or less. Under RSMo 427.300, the provider must disclose the total funds provided, funds disbursed, total of payments, total dollar cost of financing, payment amounts and prepayment terms at or before signing. An APR is not required. The attorney general enforces the law, and there is no private right of action."},{"q":"Where do I search for UCC liens in Missouri?","a":"Search the Missouri Secretary of State's UCC Division records through the Missouri Business Filings system at bsd.sos.mo.gov. Search by your exact legal business name to see whether a lender or factor already has a filing against your receivables. Certified searches can also be ordered online, which many factors ask for before funding."},{"q":"How fast do Missouri state agencies pay vendors?","a":"Under RSMo 34.055, a state agency that has not paid within 45 days of the later of delivery or invoice approval owes interest back to day 30, at 3 points above the prime rate. In practice, vendors to state agencies and public construction projects often plan for 30 to 60 days, which is why government contractors in Missouri use factoring to cover payroll in the gap."}],"sources":[{"label":"Revisor of Missouri, RSMo 427.300 (Commercial Financing Disclosure Law)","url":"https://revisor.mo.gov/main/OneSection.aspx?section=427.300"},{"label":"Husch Blackwell, Missouri enacts new commercial finance disclosure law","url":"https://huschblackwell.com/newsandinsights/missouri-enacts-new-commercial-finance-disclosure-law"},{"label":"Missouri Secretary of State, Uniform Commercial Code","url":"https://www.sos.mo.gov/ucc"},{"label":"Revisor of Missouri, RSMo 34.055 (state agency payment)","url":"https://revisor.mo.gov/main/OneSection.aspx?section=34.055"},{"label":"Revisor of Missouri, RSMo 431.180 (private construction payment)","url":"https://revisor.mo.gov/main/OneSection.aspx?section=431.180"},{"label":"Revisor of Missouri, RSMo 107.170 (public works bonds)","url":"https://revisor.mo.gov/main/OneSection.aspx?section=107.170"},{"label":"Levelset, Missouri mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/missouri-lien-law-faqs/"},{"label":"Levelset, Missouri prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/missouri-prompt-payment-faqs/"},{"label":"Levelset, Missouri bond claim FAQs","url":"https://www.levelset.com/bond-claim/missouri-bond-claim-faqs/"}],"confidence":"high on statute text; medium on the 2025-02-28 effective date, which applies because the Division of Finance did not adopt implementing rules (no rule found in 20 CSR 1140 and the Division issued broker forms in 2025), but I found no Division notice stating this directly.","page_url":"/states/missouri/"},{"code":"MT","name":"Montana","verifiedOn":"2026-11-12","summary":"Montana has no commercial financing disclosure law, so factoring deals are governed by contract and UCC Article 9. UCC-1 filings go to the Secretary of State through biz.sosmt.gov, and receivables come mostly from agriculture, energy and mining, healthcare, construction and Malmstrom Air Force Base.","economy":{"paragraphs":["Montana's B2B receivables are spread across resource and service industries. Grain elevators, cattle buyers and ag cooperatives create seasonal payables for growers and haulers. Refineries in Billings and Laurel, coal and hard rock mines, and pipeline and rail work bring in contractors and equipment vendors. Billings Clinic, Logan Health and other regional systems buy staffing and medical services. Malmstrom Air Force Base in Great Falls, the VA and federal land agencies hire local firms. Fast growth in Bozeman, Missoula and the Flathead keeps commercial and residential construction busy.","Ag receivables peak after the wheat harvest and fall cattle sales, so many farm service and trucking firms need cash in spring and summer. A short building season compresses construction billing into a few months. State agencies must pay within 30 days when the contract sets no date, and private construction payments run on a 21 day approval and 7 day pay cycle."],"metros":["Billings","Missoula","Great Falls","Bozeman","Helena"],"industries":["Agriculture and ranching","Oil refining, mining and energy","Healthcare services","Construction","Trucking and rail logistics"],"federalInstallations":["Malmstrom Air Force Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing disclosure law is in effect or enacted, and I found no 2025 or 2026 bill that passed. Montana's 2025 SB 511 deals with litigation financing, not business financing.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Montana Secretary of State, Business and UCC Services (Helena)","searchUrl":"https://biz.sosmt.gov/","notes":"Searches offer a monthly subscription or per-certificate pricing with extra charges for lien images; Montana also handles agricultural liens and effective financing statements for farm products (Farm Bill Master List)."},"publicPromptPay":{"statute":"Mont. Code Ann. §17-8-241 to 17-8-244","days":"When due under the contract, or if no date is set, 30 days after the later of receipt of a properly completed invoice or receipt of the goods or services","interest":"Simple interest of 0.05% per day on late amounts","notes":"Exceptions for interagency transactions, good faith disputes and delays beyond the agency's control (§17-8-244). Interest is paid from the late agency's administrative funds.","sourceUrl":"https://mca.legmt.gov/bills/mca/title_0170/chapter_0080/part_0020/section_0420/0170-0080-0020-0420.html"},"privatePromptPay":{"statute":"Mont. Code Ann. §28-2-2101 et seq.","ownerToContractor":"Payment request deemed approved 21 days after receipt unless disapproved in writing; approved amount due within 7 days","contractorToSub":"Within 7 days after the contractor receives payment","interest":"1.5% per month on payments more than 30 days late","notes":"Retainage capped at 5%. Prevailing party recovers attorney fees. Some residential projects are excluded.","sourceUrl":"https://www.levelset.com/prompt-payment/montana-prompt-payment-faqs/"},"lien":{"statute":"Mont. Code Ann. §71-3-521 et seq.","preliminaryNotice":"Notice of right to claim a lien within 20 days of first furnishing (45 days with certain lender-funded work), filed with the county clerk and recorder within 5 business days. Not required for work on commercial projects or dwellings for 5 or more families, or for contractors hired directly by the owner.","claimDeadline":"Within 90 days after the claimant's final furnishing, or 90 days after the owner files a notice of completion","enforceDeadline":"Generally within 2 years after the lien is filed","sourceUrl":"https://www.levelset.com/mechanics-lien/montana-lien-law-faqs/"},"publicBond":{"statute":"Mont. Code Ann. §18-2-201 et seq.","threshold":"Bond generally required for the full contract price; may be waived for projects under $50,000 ($7,500 for school districts)","claimNotice":"Suppliers to a subcontractor must notify the prime within 30 days after first delivery (§18-2-206); bond claims must be filed with the public body within 90 days after completion and acceptance (§18-2-204)","sourceUrl":"https://www.levelset.com/bond-claim/montana-bond-claim-faqs/"},"other":["Commercial construction projects are exempt from Montana's notice of right to claim lien, so subs on commercial jobs can rely on the 90 day lien deadline without a preliminary notice."],"faqs":[{"q":"Is invoice factoring legal in Montana?","a":"Yes. Factoring is a sale of accounts under Montana's version of UCC Article 9, and the buyer perfects its interest by filing a UCC-1 with the Secretary of State. Montana has no factoring license or commercial financing disclosure statute, so rates, advance amounts, recourse and how your customers are notified are all set by your contract."},{"q":"Does Montana require a disclosure for factoring deals?","a":"No. Montana has not enacted a commercial financing disclosure law, and no such bill passed in the 2025 session. Without a state-mandated form, ask the factor to put the total fee in dollars, the advance rate, the reserve release timing and any minimum volume or termination fees in writing."},{"q":"Where do I search for UCC liens in Montana?","a":"Use the Montana Secretary of State's online UCC search at biz.sosmt.gov. You can search debtor names, view filing chains and download debtor search certificates and lien images. The office offers a monthly subscription or pay-per-certificate pricing. Farm businesses should also check agricultural liens and effective financing statements on crops and livestock."},{"q":"Can I factor invoices to Montana farm and ranch buyers?","a":"Yes, but check the buyer side carefully. Grain elevators and cattle buyers often pay quickly, while cooperatives and processors may run longer terms. If your products are farm products, a lender may already hold an effective financing statement or agricultural lien on them, which a factor will find in its Secretary of State search before funding."}],"sources":[{"label":"Montana Code Annotated §17-8-242 (state agency late payment interest)","url":"https://mca.legmt.gov/bills/mca/title_0170/chapter_0080/part_0020/section_0420/0170-0080-0020-0420.html"},{"label":"Montana Secretary of State help center, Uniform Commercial Code information","url":"https://help.sosmt.gov/en/article/uniform-commercial-code-information-p9c3mx/"},{"label":"Levelset, Montana prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/montana-prompt-payment-faqs/"},{"label":"Levelset, Montana lien law FAQs","url":"https://www.levelset.com/mechanics-lien/montana-lien-law-faqs/"},{"label":"Levelset, Montana bond claim FAQs","url":"https://www.levelset.com/bond-claim/montana-bond-claim-faqs/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high on state prompt pay and lien rules; medium on the 2 year lien enforcement period and bond suit timing, which come from Levelset rather than statute text I opened.","page_url":"/states/montana/"},{"code":"NE","name":"Nebraska","verifiedOn":"2026-11-12","summary":"Nebraska has no commercial financing disclosure law (its 2026 LB 717 disclosure changes cover consumer installment loans only), so factoring terms are set by contract. UCC-1 filings go to the Secretary of State, which moved UCC and farm product filings to a new system at business.nebraska.gov in December 2025, and the payer base is built on agriculture, meatpacking, rail, insurance and Offutt Air Force Base.","economy":{"paragraphs":["Nebraska receivables track its farm and transportation economy. Beef and pork packing plants in Grand Island, Lexington, Schuyler and Omaha buy cattle, hogs, trucking and plant services on a large scale. Ethanol plants and grain handlers pay growers and haulers. Union Pacific's Omaha headquarters and BNSF lines support rail contractors and suppliers. Offutt Air Force Base, home of U.S. Strategic Command, buys from defense and IT contractors. Insurance and financial firms such as Mutual of Omaha and Berkshire Hathaway companies, plus Nebraska Medicine and other hospital systems, create steady work for staffing and services vendors.","Agricultural receivables are seasonal, peaking around fall harvest and cattle marketing, and many input suppliers carry growers until crops sell. Trucking is a large factoring segment because of I-80 freight. State agencies have 45 days to pay before interest can be claimed, and private construction payments are due 30 days after a proper request."],"metros":["Omaha","Lincoln","Grand Island","Kearney"],"industries":["Meatpacking and food processing","Agriculture and ethanol","Trucking and rail logistics","Insurance and financial services","Healthcare services"],"federalInstallations":["Offutt Air Force Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing disclosure law is in effect or enacted. LB 717 (signed February 25, 2026) added refinancing disclosure rules for consumer installment loans and mortgage bankers, not business financing or factoring.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Nebraska Secretary of State, Business Services Division (UCC/EFS)","searchUrl":"https://business.nebraska.gov","notes":"The new UCC/EFS system went live December 8, 2025 and requires an account; it also holds effective financing statements on farm products, state and federal tax liens and statutory agricultural liens, and certified debtor searches can be ordered online."},"publicPromptPay":{"statute":"Neb. Rev. Stat. §81-2401 et seq. (Prompt Payment Act)","days":"45 calendar days after the later of receipt of the goods or services or receipt of the bill (60 days for certain third-party goods or services)","interest":"Rate set under §45-104.02 (federal short-term rate plus 3 points, reset by the Tax Commissioner), accruing from day 31, payable only if the creditor requests it within 90 days after payment was due","notes":"No interest during a good faith dispute. Highway and road construction and projects paid only with federal funds are excluded.","sourceUrl":"https://nebraskalegislature.gov/laws/statutes.php?statute=81-2404"},"privatePromptPay":{"statute":"Neb. Rev. Stat. §45-1201 et seq. (Construction Prompt Pay Act)","ownerToContractor":"Within 30 days after receipt of a proper payment request; retainage released within 45 days after substantial completion","contractorToSub":"Within 10 days after the contractor receives each periodic or final payment","interest":"1% per month on the unpaid balance from the day after the due date, once the paying party has been notified of the statute","notes":"Retainage capped at 10%. Excludes residential projects of 4 units or less.","sourceUrl":"https://www.levelset.com/prompt-payment/nebraska-prompt-payment-faqs/"},"lien":{"statute":"Neb. Rev. Stat. §52-125 to 52-159 (Nebraska Construction Lien Act)","preliminaryNotice":"Not generally required. Notice of the right to assert a lien applies when the owner is a protected party (owner-occupied 1 to 4 unit residential, residential lots, condo unit owners).","claimDeadline":"Within 120 days after the claimant's final furnishing of services or materials","enforceDeadline":"Lien is enforceable for 2 years after recording; an owner's written demand can force suit within 30 days","sourceUrl":"https://www.levelset.com/mechanics-lien/nebraska-lien-law-faqs/"},"publicBond":{"statute":"Neb. Rev. Stat. §52-118 to 52-118.02","threshold":"State projects over $15,000; county, city, school district and other local projects over $10,000","claimNotice":"Claimants with a contract with a subcontractor but not the prime must give the prime written notice within 4 months after last furnishing; suit within 1 year after final settlement of the prime contract","sourceUrl":"https://www.levelset.com/bond-claim/nebraska-bond-claim-faqs/"},"other":["Public property cannot be liened in Nebraska (§52-132), so subs on public jobs rely on the payment bond.","Nebraska runs a central filing system for effective financing statements on farm products, which buyers of crops and livestock check; ag businesses should expect a factor to search it."],"faqs":[{"q":"Is invoice factoring legal in Nebraska?","a":"Yes. Factoring is a sale of accounts under Nebraska's version of UCC Article 9, and the buyer perfects with a UCC-1 filed with the Secretary of State. Nebraska has no factoring license and no commercial financing disclosure law, so pricing, advance rates, recourse and notice to your customers are governed by the contract."},{"q":"Does Nebraska require a disclosure for factoring deals?","a":"No. Nebraska has not enacted a commercial financing disclosure law. The disclosure changes in LB 717 (2026) apply to consumer installment loans and mortgage bankers, not to business financing. Ask for the full fee schedule and total cost in dollars so you can compare factoring offers side by side."},{"q":"Where do I search for UCC liens in Nebraska?","a":"Use the Nebraska Secretary of State's UCC/EFS system at business.nebraska.gov, which replaced the older search on December 8, 2025. You need a free account. The system covers UCC filings, effective financing statements on farm products, tax liens and agricultural liens, and certified debtor name searches can be ordered online."},{"q":"How long do Nebraska state agencies take to pay?","a":"Under the Prompt Payment Act, agencies have 45 calendar days from the later of delivery or receipt of the bill. Interest starts on day 31 but only if you ask for it within 90 days after payment was due. Contractors to state agencies and Offutt Air Force Base often factor those invoices to cover the wait."}],"sources":[{"label":"Nebraska Secretary of State, New UCC/EFS system FAQs","url":"https://sos.nebraska.gov/new-uccefs-system-frequently-asked-questions"},{"label":"Nebraska Legislature, Neb. Rev. Stat. §81-2404","url":"https://nebraskalegislature.gov/laws/statutes.php?statute=81-2404"},{"label":"Nebraska Legislature, Neb. Rev. Stat. §45-104.02","url":"https://nebraskalegislature.gov/laws/statutes.php?statute=45-104.02"},{"label":"Levelset, Nebraska prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/nebraska-prompt-payment-faqs/"},{"label":"Levelset, Nebraska lien law FAQs","url":"https://www.levelset.com/mechanics-lien/nebraska-lien-law-faqs/"},{"label":"Levelset, Nebraska bond claim FAQs","url":"https://www.levelset.com/bond-claim/nebraska-bond-claim-faqs/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high on prompt pay, lien and bond rules and on the new UCC system; I did not open the LB 717 text itself (its consumer-only scope comes from law firm summaries in search results), and current UCC search fees on the new system were not published on the pages I read.","page_url":"/states/nebraska/"},{"code":"NV","name":"Nevada","verifiedOn":"2026-11-12","summary":"Nevada has no commercial financing disclosure law, so factoring deals here are governed by contract and UCC Article 9. UCC-1 filings go to the Secretary of State, which moved UCC filing to its new Orion system in December 2025, and the payer base is dominated by casino resorts, construction, mining, battery and data center projects, and military bases.","economy":{"paragraphs":["Nevada's B2B receivables center on hospitality and building. Las Vegas Strip resorts and convention venues buy food, linen, staffing, security and entertainment services on net terms. A long run of hotel, stadium, warehouse and housing construction keeps subcontractors and suppliers billing. Northern Nevada's Tahoe Reno Industrial Center hosts battery, data center and logistics operations. Gold mines around Elko and Winnemucca buy equipment, hauling and maintenance. Nellis and Creech Air Force Bases, Naval Air Station Fallon, Hawthorne Army Depot and the Nevada National Security Site hire defense and service contractors.","Hospitality vendors often face 30 to 60 day terms from large resort operators, and convention calendars drive seasonal swings. Mining receivables follow commodity prices and remote logistics. Construction is fast and lien-driven, with a 31 day notice of right to lien. Private construction payments run on 21 day owner and 10 day contractor windows."],"metros":["Las Vegas","Henderson","Reno","Carson City"],"industries":["Hospitality, gaming and conventions","Construction","Mining","Battery manufacturing, data centers and logistics","Defense contracting"],"federalInstallations":["Nellis Air Force Base","Creech Air Force Base","Naval Air Station Fallon","Hawthorne Army Depot","Nevada National Security Site"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing disclosure law is in effect or enacted. Nevada's 2025 lending changes (such as SB 437) amended consumer installment loan licensing, not business financing.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Nevada Secretary of State, Commercial Recordings (UCC)","searchUrl":"https://orion.nv.gov/","notes":"UCC filing moved from SilverFlume to the Secretary of State's new Orion platform in December 2025; the office accepts only the national UCC1, UCC3 and UCC5 forms."},"publicPromptPay":{"statute":"NRS 338.515 to 338.565 (public works); no general state vendor prompt payment statute found","days":"Public works: progress payments within 30 days after the public body receives the bill; contractor pays subs within 10 days of receiving payment","interest":"Owed to contractor: a quarterly rate tied to 90-day certificate of deposit rates. Owed to subs and suppliers: lowest prime rate at the 3 largest US banks plus 2%.","notes":"Nevada Department of Transportation highway contracts follow separate rules. I found no Nevada statute setting a payment deadline for ordinary state agency vendor invoices.","sourceUrl":"https://www.levelset.com/prompt-payment/nevada-prompt-payment-faqs/"},"privatePromptPay":{"statute":"NRS 624.606 to 624.630","ownerToContractor":"Per the written schedule, or within 21 days after a payment request if there is no schedule; final payment within 30 days after occupancy or use","contractorToSub":"By the scheduled date or within 10 days after the contractor is paid, whichever is earlier (if no schedule, the earlier of 30 days after the request or 10 days after payment)","interest":"The higher of the contract rate or the prime rate at the largest Nevada bank, plus 4%","notes":"Pay-if-paid clauses are not enforceable; prevailing parties can recover attorney fees.","sourceUrl":"https://www.huschblackwell.com/nevada-state-by-state-summary-of-prompt-payment"},"lien":{"statute":"NRS 108.221 et seq.","preliminaryNotice":"Notice of right to lien to the owner and general contractor within 31 days of first furnishing, by anyone not contracting directly with the owner (laborers exempt). Residential projects also need a 15 day notice of intent before recording.","claimDeadline":"Generally within 90 days after the latest of completion of the work, last delivery or last performance; 40 days after a recorded and served notice of completion","enforceDeadline":"Suit within 6 months after recording (extendable by written agreement with the owner)","sourceUrl":"https://www.levelset.com/mechanics-lien/nevada-lien-law-faqs/"},"publicBond":{"statute":"NRS 339.015 et seq. (NRS 339.025)","threshold":"Public contracts over $100,000","claimNotice":"Claimants without a contract with the prime serve preliminary notice within 30 days of first furnishing; written claim notice to the contractor within 90 days after last furnishing; suit within 1 year","sourceUrl":"https://www.levelset.com/bond-claim/nevada-bond-claim-faqs/"},"other":["Nevada has no state corporate or personal income tax, which draws many out-of-state company registrations; a factor will still file its UCC-1 in the state where your business is organized, which may be Nevada even if you operate elsewhere."],"faqs":[{"q":"Is invoice factoring legal in Nevada?","a":"Yes. Factoring is a sale of accounts under Nevada's version of UCC Article 9, and the buyer perfects with a UCC-1 filed with the Secretary of State. Nevada has no factoring license and no commercial financing disclosure law, so price, advance rate, recourse and notice to your customers are set by the contract you sign."},{"q":"Does Nevada require a disclosure for factoring deals?","a":"No. Nevada has not enacted a commercial financing disclosure law, and its 2025 lending changes covered consumer installment loans. Because no state form is required, ask the factor for the total fee in dollars, the advance and reserve terms, and any minimums or termination fees in writing."},{"q":"Where do I search for UCC liens in Nevada?","a":"UCC filings are kept by the Nevada Secretary of State. In December 2025 the office moved UCC filing from SilverFlume to its new Orion platform, so start at the Secretary of State's site to reach the current search. Search your exact legal name, and remember that a Nevada-registered company's filings are in Nevada even if it operates elsewhere."},{"q":"Can I factor invoices to Las Vegas casinos and resorts?","a":"Yes. Vendors to large resort operators often wait 30 to 60 days, and factors generally like these payers because of their size. Some resort vendor contracts restrict assignment of receivables or require notice, so check your vendor agreement before your factor sends a notice of assignment to the resort's payables team."}],"sources":[{"label":"The Nevada News, Nevada modernized platform for business filings (Dec. 2025)","url":"https://thenevadannews.com/2025/12/19/nevada-modernized-platform-simplify-business-filings/"},{"label":"Husch Blackwell, Nevada state by state summary of prompt payment","url":"https://www.huschblackwell.com/nevada-state-by-state-summary-of-prompt-payment"},{"label":"Levelset, Nevada prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/nevada-prompt-payment-faqs/"},{"label":"Levelset, Nevada lien law FAQs","url":"https://www.levelset.com/mechanics-lien/nevada-lien-law-faqs/"},{"label":"Levelset, Nevada bond claim FAQs","url":"https://www.levelset.com/bond-claim/nevada-bond-claim-faqs/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"medium: construction rules are well sourced, but nvsos.gov blocked automated access, so the UCC search URL (orion.nv.gov, where the old SilverFlume address now redirects) and office name are not confirmed on an official page; no general state vendor prompt pay statute was found.","page_url":"/states/nevada/"},{"code":"NH","name":"New Hampshire","verifiedOn":"2026-11-12","summary":"New Hampshire has no commercial financing disclosure law and no prompt payment statute for public or private construction, so factoring terms and payment timing are set almost entirely by contract. UCC-1 filings go to the Secretary of State's Corporation, UCC and Securities Division, and the payer base is defense electronics, the Portsmouth Naval Shipyard supply chain, healthcare, financial services and tourism.","economy":{"paragraphs":["New Hampshire's B2B receivables lean on defense, tech manufacturing and services. BAE Systems' electronics operations in Nashua and Merrimack and the Portsmouth Naval Shipyard (just across the river in Kittery, Maine) support a ring of machine shops, engineering firms and staffing vendors on the Seacoast and in the southern tier. Pease Air National Guard Base hosts a tanker wing. Dartmouth Health and other hospital systems buy staffing and medical services. Fidelity's Merrimack campus, life sciences manufacturing in Portsmouth and precision manufacturers along the Merrimack Valley create steady net-30 to net-60 invoices.","Ski resorts, lake and coastal tourism make hospitality vendors highly seasonal, with winter and summer peaks. Construction has a short season and New Hampshire liens must be secured through a court attachment within 120 days, so subcontractors watch receivables closely. Because no statute sets payment deadlines, contract terms control."],"metros":["Manchester","Nashua","Concord","Portsmouth"],"industries":["Defense electronics and aerospace","Precision manufacturing","Healthcare services","Financial services","Tourism and hospitality"],"federalInstallations":["Pease Air National Guard Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing disclosure law is in effect or enacted. Recent New Hampshire bills on financing disclosure (for example HB 733 in 2025) dealt with litigation funding, not business financing.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"New Hampshire Department of State, Corporation, UCC and Securities Division (Concord)","searchUrl":null,"notes":"Online filing and searches run through the Secretary of State's QuickStart account system; mailed search requests carry a fee (routine, 24 hour and same day tiers)."},"publicPromptPay":{"statute":null,"days":null,"interest":null,"notes":"I found no New Hampshire prompt payment statute for state agency vendors or public construction; payment terms come from the contract.","sourceUrl":"https://www.levelset.com/prompt-payment/new-hampshire-prompt-payment-faqs/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"New Hampshire has no private construction prompt payment statute; contract terms govern timing and late charges.","sourceUrl":"https://www.levelset.com/prompt-payment/new-hampshire-prompt-payment-faqs/"},"lien":{"statute":"RSA 447:2 et seq.","preliminaryNotice":"Subcontractors and suppliers not in contract with the owner must give the owner written notice, ideally before furnishing (RSA 447:5); later notice only protects amounts still owed, and an account should be given about every 30 days (RSA 447:8).","claimDeadline":"The lien lasts 120 days after the claimant last performs services or furnishes materials (RSA 447:9) and must be secured by court attachment within that window","enforceDeadline":"Within the same 120 days, by petition to the superior court to secure the lien by attachment","sourceUrl":"https://gc.nh.gov/rsa/html/XLI/447/447-9.htm"},"publicBond":{"statute":"RSA 447:15 to 447:18","threshold":"Contracts involving $75,000 for the state or $125,000 for a political subdivision","claimNotice":"Claim statement within 90 days after completion and acceptance of the project, filed with the Secretary of State (state contracts), the transportation or administrative services department, or the county superior court clerk (political subdivisions); suit within 1 year after filing the claim","sourceUrl":"https://gc.nh.gov/rsa/html/XLI/447/447-17.htm"},"other":["New Hampshire mechanics liens are not recorded like a deed; the claimant must get a court attachment within 120 days, which takes legal filing time."],"faqs":[{"q":"Is invoice factoring legal in New Hampshire?","a":"Yes. Factoring is a sale of accounts under New Hampshire's version of UCC Article 9, and the buyer perfects with a UCC-1 filed with the Secretary of State. New Hampshire has no factoring license or commercial financing disclosure law, so pricing, advance rate, recourse and how your customers are notified are set by contract."},{"q":"Does New Hampshire require a disclosure for factoring deals?","a":"No. New Hampshire has not enacted a commercial financing disclosure law. Recent disclosure bills there targeted litigation funding, not business financing. Ask any factor for the total cost in dollars, the advance and reserve terms, and any minimum volume or termination fees in writing before you sign."},{"q":"Where do I search for UCC liens in New Hampshire?","a":"UCC records are kept by the New Hampshire Department of State's Corporation, UCC and Securities Division in Concord. Online searches run through the Secretary of State's QuickStart system, and paper search requests can be mailed for a fee. Search your exact legal name to spot existing liens on receivables."},{"q":"How long do New Hampshire customers have to pay contractors?","a":"There is no statutory deadline. New Hampshire has no prompt payment law for public or private construction, so your contract sets the terms and any late charge. That makes clear payment and assignment clauses important, and it is one reason subcontractors here factor progress invoices rather than wait."}],"sources":[{"label":"NH General Court, RSA 447:9 (duration of lien)","url":"https://gc.nh.gov/rsa/html/XLI/447/447-9.htm"},{"label":"NH General Court, RSA 447:16 (public works bond)","url":"https://gc.nh.gov/rsa/html/XLI/447/447-16.htm"},{"label":"NH General Court, RSA 447:17 (bond claims)","url":"https://gc.nh.gov/rsa/html/XLI/447/447-17.htm"},{"label":"Levelset, New Hampshire prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/new-hampshire-prompt-payment-faqs/"},{"label":"Levelset, New Hampshire lien law FAQs","url":"https://www.levelset.com/mechanics-lien/new-hampshire-lien-law-faqs/"},{"label":"Levelset, New Hampshire bond claim FAQs","url":"https://www.levelset.com/bond-claim/new-hampshire-bond-claim-faqs/"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"medium: lien and bond rules confirmed in RSA text (Levelset's $25,000 bond threshold is out of date; RSA 447:16 now says $75,000 state and $125,000 local); sos.nh.gov blocked automated access, so the UCC search URL is null and the QuickStart and search fee details come from official pages' search listings.","page_url":"/states/new-hampshire/"},{"code":"NJ","name":"New Jersey","verifiedOn":"2026-11-12","summary":"New Jersey has no commercial financing disclosure law in effect, though a bill that would cover factoring (S1760) is pending in the 2026 to 2027 session. UCC-1 filings go to the Division of Revenue and Enterprise Services in the Treasury Department, and the payer base is heavy with pharma, ports and logistics, hospital systems and public agencies.","economy":{"paragraphs":["New Jersey businesses that factor tend to sell to large, process-driven buyers. Pharmaceutical and life sciences companies such as Johnson & Johnson and Merck run long vendor approval cycles. Port Newark and the Elizabeth container terminals feed a dense corridor of warehouses and trucking firms along the Turnpike, where carriers and 3PLs bill retailers and shippers. Hospital systems, including Hackensack Meridian Health and RWJBarnabas Health, buy staffing and services. Defense suppliers serve Joint Base McGuire-Dix-Lakehurst and Picatinny Arsenal, and contractors bill the state, counties, school districts and NJ Transit.","Net 45 to net 90 terms are common with pharma buyers and big retailers, and freight invoices can wait 30 to 60 days for broker or shipper payment. Construction subcontractors on public jobs wait on monthly pay cycles that may slip to the next governing-body meeting. Shore tourism suppliers peak in summer, and food and consumer goods distributors build inventory ahead of the holiday season."],"metros":["Newark","Jersey City","Paterson","Trenton","Camden","New Brunswick"],"industries":["Pharmaceuticals and life sciences suppliers","Logistics, trucking and warehousing","Healthcare staffing","Construction subcontracting","Food and consumer goods distribution","Defense and electronics manufacturing"],"federalInstallations":["Joint Base McGuire-Dix-Lakehurst","Picatinny Arsenal","Naval Weapons Station Earle"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":"S1760 (2026 to 2027 session), pending; not enacted","effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"S1760, sponsored by Senator Troy Singleton, would require disclosures (including APR) on commercial financing, and its definition expressly includes factoring transactions. As introduced it exempts banks, deals over $500,000, providers with 5 or fewer New Jersey deals in 12 months, and factoring of patient-care receivables owed to health care providers. Earlier versions (S1397, A865) did not pass.","sourceUrl":"https://pub.njleg.state.nj.us/Bills/2026/S2000/1760_I1.HTM","thresholdUsd":null},"ucc":{"office":"New Jersey Department of the Treasury, Division of Revenue and Enterprise Services (DORES), UCC Section","searchUrl":"https://www.njportal.com/UCC/","notes":"New Jersey's UCC office sits in the Treasury Department, not a Secretary of State; online searches carry a fee shown during the session, and fixture filings are recorded with the county."},"publicPromptPay":{"statute":"New Jersey Prompt Payment Act, P.L.1987, c.184 (N.J.S.A. 52:32-32 et seq.)","days":"Generally 60 days after the later of receipt of goods or services or a properly executed invoice, or 60 days after a contract payment date; 30 days for construction-related contracts","interest":"Interest at a rate the State Treasurer sets each fiscal year, with separate rates for construction and non-construction vendors","notes":"Since 2018, local contracting units and independent state authorities generally must pay within 60 days and boards of education within 90 days, or pay interest at the Treasurer's rate. Public construction payments run on a 30-day clock under N.J.S.A. 2A:30A-2.","sourceUrl":"https://pub.njleg.gov/bills/2018/PL18/127_.HTM"},"privatePromptPay":{"statute":"N.J.S.A. 2A:30A-1 et seq.","ownerToContractor":"Within 30 days after the billing date in the contract; a payment request is deemed approved within 20 days unless the owner issues a written withholding statement","contractorToSub":"Within 10 days after receipt of payment, unless the contract says otherwise","interest":"Prime rate plus 1%; prevailing party recovers reasonable costs and attorney fees","notes":"The same 30-day and 10-day rules apply to public construction projects, with extra time where a governing body must vote to approve payment.","sourceUrl":"https://www.levelset.com/prompt-payment/new-jersey-prompt-payment-faqs/"},"lien":{"statute":"New Jersey Construction Lien Law, N.J.S.A. 2A:44A-1 et seq.","preliminaryNotice":"Not generally required on commercial projects; on residential projects a Notice of Unpaid Balance and Right to File Lien must be filed within 60 days of last furnishing, followed by arbitration","claimDeadline":"Within 90 days after last furnishing labor or materials (residential: 120 days, after the arbitration step)","enforceDeadline":"Within 1 year after last furnishing (not from the lien filing), or within 30 days of an owner's demand to sue","sourceUrl":"https://www.levelset.com/mechanics-lien/new-jersey-lien-law-faqs/"},"publicBond":{"statute":"N.J.S.A. 2A:44-143 to 2A:44-147","threshold":"Payment and performance bond required on public works; the state may waive it on contracts of $200,000 or less, and local units and school districts on contracts of $100,000 or less","claimNotice":"A sub or supplier must give the surety a statement of the amount due within 1 year of last furnishing, wait 90 days, and sue within 1 year of last furnishing","sourceUrl":"https://www.levelset.com/bond-claim/new-jersey-bond-claim-faqs/"},"other":["On county and municipal public jobs (not state jobs), a sub can also file a lien on unpaid contract funds, which requires notice within 20 days of first furnishing for parties without a contract with the prime."],"faqs":[{"q":"Is invoice factoring legal in New Jersey?","a":"Yes. Factoring is a sale of receivables governed by Article 9 of the UCC, which New Jersey has adopted. No New Jersey license is specific to factoring, and no state disclosure law applies yet. Funders perfect their interest by filing a UCC-1 with the Division of Revenue and Enterprise Services."},{"q":"Does New Jersey require a disclosure for factoring deals?","a":"Not yet. New Jersey has no commercial financing disclosure law in effect. Senate Bill 1760, pending in the 2026 to 2027 session, would require APR-style disclosures on financing of $500,000 or less and expressly covers factoring, but earlier versions stalled. Ask any funder for total dollar cost, advance rate and exit terms in writing."},{"q":"Where do I search for UCC liens in New Jersey?","a":"Use the Division of Revenue and Enterprise Services portal at njportal.com/UCC. New Jersey's filing office is in the Treasury Department, not a Secretary of State. Search your exact legal name, note any lender claiming accounts receivable, and get UCC-3 terminations for paid-off debt before you apply."},{"q":"How long does New Jersey give subcontractors to file a construction lien?","a":"Generally 90 days after your last furnishing of labor or materials on a commercial project, and suit must follow within 1 year of last furnishing. Residential jobs add a Notice of Unpaid Balance within 60 days and an arbitration step. On public jobs, bond claims replace liens. Get exact dates from construction counsel."}],"sources":[{"label":"NJ Legislature, S1760 (2026) commercial financing disclosures, as introduced","url":"https://pub.njleg.state.nj.us/Bills/2026/S2000/1760_I1.HTM"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"NJ Treasury, UCC search services","url":"https://www.nj.gov/treasury/revenue/dcr/geninfo/uccsrch.shtml"},{"label":"NJ Treasury OMB Circular 21-03, Prompt Payment Act","url":"https://www.nj.gov/infobank/circular/cir21-03-omb.pdf"},{"label":"NJ Legislature, P.L.2018, c.127 (local and authority prompt payment)","url":"https://pub.njleg.gov/bills/2018/PL18/127_.HTM"},{"label":"Levelset, New Jersey prompt payment","url":"https://www.levelset.com/prompt-payment/new-jersey-prompt-payment-faqs/"},{"label":"Levelset, New Jersey mechanics lien","url":"https://www.levelset.com/mechanics-lien/new-jersey-lien-law-faqs/"},{"label":"Levelset, New Jersey bond claims","url":"https://www.levelset.com/bond-claim/new-jersey-bond-claim-faqs/"},{"label":"Levelset, New Jersey preliminary notice","url":"https://www.levelset.com/preliminary-notice/new-jersey-preliminary-notice-faqs/"}],"confidence":"high for disclosure status, UCC office and construction deadlines; medium on S1760's committee status (we found no committee or floor action, but could not open the legislature's live status page) and on the current fiscal-year interest rates, which the Treasurer resets annually.","page_url":"/states/new-jersey/"},{"code":"NM","name":"New Mexico","verifiedOn":"2026-11-12","summary":"New Mexico has no commercial financing disclosure law, so factoring offers here carry no state-mandated cost summary. UCC-1 filings go to the Secretary of State, which has accepted them online only since March 2024, and the payer base leans on federal labs and bases, oil and gas operators, and state agencies.","economy":{"paragraphs":["New Mexico's biggest receivables come from federal and energy payers. Contractors and suppliers bill Sandia National Laboratories and Los Alamos National Laboratory, Kirtland Air Force Base in Albuquerque, Holloman and Cannon Air Force Bases, and White Sands Missile Range. In the southeast, oilfield service, trucking and water-hauling companies invoice Permian Basin operators in Lea and Eddy counties. Albuquerque adds hospital systems, semiconductor manufacturing in Rio Rancho and a growing film and TV production base, while Santa Fe's state agencies buy services statewide. Staffing, environmental and engineering firms are frequent users of factoring.","Oil and gas operators often pay vendors on 60 to 90 day cycles, and payment timing swings with drilling activity and oil prices. Federal prime and lab subcontracts can stretch collections while invoices clear prime approval. Agriculture, including dairy, pecans and chile, is seasonal, with harvest and processing receivables concentrated in late summer and fall."],"metros":["Albuquerque","Las Cruces","Santa Fe","Rio Rancho","Farmington","Hobbs"],"industries":["Oilfield services and trucking","Government and national lab contracting","Construction subcontracting","Healthcare staffing","Film and media production services","Agriculture and food processing"],"federalInstallations":["Kirtland Air Force Base","Holloman Air Force Base","Cannon Air Force Base","White Sands Missile Range"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"We found no New Mexico commercial financing disclosure law or pending bill in 2025 or 2026, and a March 2026 national survey of these laws does not list New Mexico.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"New Mexico Secretary of State, Business Services (UCC filings), Santa Fe","searchUrl":"https://enterprise.sos.nm.gov/search/ucc","notes":"Since March 18, 2024 the office accepts UCC and EFS filings online only, with no paper forms; fixture filings are recorded with the county clerk."},"publicPromptPay":{"statute":"NMSA 1978 §13-1-158 (Procurement Code, payments for purchases)","days":"Agency certifies acceptance or rejection within 15 days of a payment request, then pays within 30 days of certifying acceptance","interest":"Late payment charges of 1.5% per month after the 30th day, unless the contract provides otherwise","notes":"For local public bodies paid from state or federal grants, payment is due within 5 working days after the grant funds arrive. Construction payments to primes and subs also fall under the Retainage Act (NMSA §57-28-1 et seq.).","sourceUrl":"https://www.nmlegis.gov/sessions/97%20Regular/FinalVersions/SB0109.html"},"privatePromptPay":{"statute":"NMSA 1978 §57-28-1 et seq. (Retainage Act)","ownerToContractor":"Progress payments within 21 days after receipt of a proper payment request; final payment within 10 days after certification of completion","contractorToSub":"Within 7 days after receipt of payment","interest":"1.5% per month; the court may award attorney fees","notes":"The same act covers public and private projects, except residential projects of 4 or fewer units. An owner must flag an improper payment request within 7 days.","sourceUrl":"https://www.levelset.com/prompt-payment/new-mexico-prompt-payment-faqs/"},"lien":{"statute":"NMSA 1978 §48-2-1 et seq.","preliminaryNotice":"Required for claims over $5,000 by parties without a contract with the owner or prime, within 60 days after first furnishing (NMSA §48-2-2.1); not required on residential projects of fewer than 4 dwellings","claimDeadline":"Within 90 days after completion of the building or improvement; an original contractor has 120 days after completing its contract","enforceDeadline":"Within 2 years after the lien is filed (court action or binding arbitration)","sourceUrl":"https://www.levelset.com/mechanics-lien/new-mexico-lien-law-faqs/"},"publicBond":{"statute":"NMSA 1978 §13-4-18 and §13-4-19","threshold":"Construction contracts over $25,000; below that the agency may require bonds at its discretion","claimNotice":"A claimant without a direct contract with the prime must give written notice to the prime within 90 days after its last labor or materials; suit within 1 year after final settlement of the contract","sourceUrl":"https://www.levelset.com/bond-claim/new-mexico-bond-claim-faqs/"},"other":["New Mexico's Retainage Act sets payment deadlines on private as well as public construction jobs, which is less common, so a sub's receivable on a private commercial project has a statutory 7-day pass-through clock.","A New Mexico lien cannot be extended: if no suit or arbitration starts within 2 years of filing, it lapses."],"faqs":[{"q":"Is invoice factoring legal in New Mexico?","a":"Yes. Factoring is a sale of receivables under New Mexico's version of UCC Article 9. The state has no factoring-specific license or disclosure rule. A funder perfects its interest by filing a UCC-1 online with the Secretary of State, then notifies your customers to pay the funder directly."},{"q":"Does New Mexico require a disclosure for factoring deals?","a":"No. New Mexico has not adopted a commercial financing disclosure law like New York's or California's, and we found no pending bill as of late 2026. That means no standardized cost summary is required. Ask for the advance rate, every fee, the expected dollar cost on your volume and the exit terms in writing."},{"q":"Where do I search for UCC liens in New Mexico?","a":"Use the Secretary of State's free online lien search at enterprise.sos.nm.gov/search/ucc. Public results are not certified and need an exact match on the name or number you enter. A certified or broader search (the UCC-11 equivalent) is a paid request. Look for any lender claiming accounts receivable before you apply."},{"q":"How fast do New Mexico public agencies pay vendors?","a":"Under the Procurement Code, an agency generally has 15 days to accept or reject delivered goods, services or construction, then 30 days from acceptance to pay. After that, late charges of 1.5% per month generally apply. Construction primes must pass payment to subs within 7 days under the Retainage Act."}],"sources":[{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"New Mexico Secretary of State, UCC filings","url":"https://www.sos.nm.gov/commercial-services/ucc-filings/"},{"label":"New Mexico Secretary of State, UCC lien search","url":"https://enterprise.sos.nm.gov/search/ucc"},{"label":"New Mexico Legislature, SB 109 (1997) amending NMSA §13-1-158","url":"https://www.nmlegis.gov/sessions/97%20Regular/FinalVersions/SB0109.html"},{"label":"Levelset, New Mexico prompt payment","url":"https://www.levelset.com/prompt-payment/new-mexico-prompt-payment-faqs/"},{"label":"Levelset, New Mexico mechanics lien","url":"https://www.levelset.com/mechanics-lien/new-mexico-lien-law-faqs/"},{"label":"Levelset, New Mexico preliminary notice","url":"https://www.levelset.com/preliminary-notice/new-mexico-preliminary-notice-faqs/"},{"label":"Levelset, New Mexico bond claims","url":"https://www.levelset.com/bond-claim/new-mexico-bond-claim-faqs/"}],"confidence":"medium. Disclosure status, UCC office and search, and lien deadlines are well supported. The public prompt payment terms come from the 1997 enacted amendment to §13-1-158; we could not open the current official compilation to confirm no later change.","page_url":"/states/new-mexico/"},{"code":"NY","name":"New York","verifiedOn":"2026-11-12","summary":"New York is one of the few states whose commercial financing disclosure law names factoring directly: providers must give a standardized disclosure, including an estimated APR, on factoring offers of $2.5MM or less. UCC-1 filings go to the Department of State in Albany, and the payer base runs from Manhattan banks and hospital systems to public authorities and upstate manufacturers.","economy":{"paragraphs":["New York businesses that factor usually sell to large institutions with long approval chains. In New York City that means banks, media companies, retailers and hospital systems such as Northwell Health and NYC Health + Hospitals, plus public payers like the MTA, the Port Authority of New York and New Jersey and city agencies. Upstate, suppliers bill semiconductor and advanced manufacturing plants in the Capital Region and around Syracuse, university medical centers, and defense customers at Fort Drum and West Point. Staffing firms, construction subcontractors, distributors and apparel and food suppliers make up much of the demand, because their customers are bigger and slower than they are.","Terms of net 45 to net 90 are common with large New York buyers, and public owners add their own approval steps. On construction jobs, subcontractors wait on pay applications that can take 6 weeks or more to clear, so many factor approved pay apps. Seasonality is real in the Hudson Valley and upstate: construction slows in winter, while food, beverage and holiday retail suppliers peak in the fall."],"metros":["New York City","Long Island","Buffalo","Rochester","Albany","Syracuse"],"industries":["Financial and professional services suppliers","Healthcare staffing and services","Construction subcontracting","Apparel and consumer goods","Food and beverage distribution","Advanced manufacturing"],"federalInstallations":["Fort Drum","U.S. Military Academy at West Point","Watervliet Arsenal"]},"disclosure":{"status":"in_effect","name":"New York Commercial Finance Disclosure Law","citation":"N.Y. Fin. Serv. Law §801 et seq. (Article 8); 23 NYCRR Part 600","billOrAct":"S5470-B (2020, Chapter 369), amended by S898 (2021)","effective":"2023-08-01","threshold":"Transactions of $2.5MM or less","coversFactoring":true,"aprRequired":true,"registration":null,"exemptions":"Financial institutions, deals over $2.5MM, deals secured by real property, true leases, certain vehicle dealer financing of $50K or more, and providers making 5 or fewer New York deals in 12 months are exempt.","enforcement":"The Superintendent of Financial Services enforces it, with civil penalties of up to $2,000 per violation or $10,000 per willful violation; the statute gives no private right of action.","notes":"Section 806 sets the factoring-specific disclosure. Because factoring has no fixed term, the APR shown is an estimate, so compare the dollar finance charge too.","sourceUrl":"https://www.nysenate.gov/legislation/laws/FIS/A8","thresholdUsd":2500000},"ucc":{"office":"New York Department of State, Division of Corporations, State Records and Uniform Commercial Code (UCC Section, Albany)","searchUrl":"https://ucc-efiling.dos.ny.gov/","notes":"Online searches are free to run, but a certified search by Information Request (Form UCC-11) costs $25; fixture filings are recorded with the county where the real property sits."},"publicPromptPay":{"statute":"N.Y. State Fin. Law §179-f (state agencies); Gen. Mun. Law §106-b (municipalities); Pub. Auth. Law §2880 (public authorities)","days":"Generally 30 days after a state agency receives a proper invoice, excluding legal holidays; 15 days for qualifying small businesses that invoice electronically and request expedited payment","interest":"Interest at the overpayment rate set by the Commissioner of Taxation and Finance (State Fin. Law §179-g); amounts under $10 are not paid","notes":"State highway construction contracts allow 75 days, municipal payments may run 45 days when an elected body must approve, and New York City measures payment from its own invoice acceptance date. Primes on public jobs generally must pay subs within 7 days of receipt.","sourceUrl":"https://www.nysenate.gov/legislation/laws/STF/179-F"},"privatePromptPay":{"statute":"N.Y. Gen. Bus. Law §756 et seq.","ownerToContractor":"Owner approves or disapproves an invoice within 12 business days, then pays within 30 days after approval","contractorToSub":"7 days after the contractor receives good funds","interest":"1% per month, or a higher contract rate","notes":"Applies to private projects of $150,000 or more, with exceptions for smaller residential projects. Unpaid parties may suspend work on 10 days' written notice.","sourceUrl":"https://www.levelset.com/prompt-payment/new-york-prompt-payment-faqs/"},"lien":{"statute":"N.Y. Lien Law §3 et seq. (filing deadline in §10)","preliminaryNotice":"Not generally required","claimDeadline":"Within 8 months after completion of the contract or the claimant's last furnishing; 4 months for a single-family dwelling","enforceDeadline":"Generally 1 year after the lien is filed, unless extended (a second extension requires a court order)","sourceUrl":"https://www.levelset.com/mechanics-lien/new-york-lien-law-faqs/"},"publicBond":{"statute":"N.Y. State Fin. Law §137","threshold":"Payment bond generally required on state public improvement contracts; the agency may waive bonds on contracts under $100,000","claimNotice":"A claimant with no direct contract with the prime must give written notice to the prime within 120 days after its last labor or materials","sourceUrl":"https://www.nysenate.gov/legislation/laws/STF/137"},"other":["On public jobs, a subcontractor can also file a notice of lien on public improvement funds (Lien Law §12) up to 30 days after completion and acceptance, which a factor buying public receivables will look for."],"faqs":[{"q":"Is invoice factoring legal in New York?","a":"Yes. Factoring is a sale of receivables, and New York treats it as a commercial transaction under the UCC rather than a loan. New York does regulate how factoring offers are presented: for deals of $2.5MM or less, most non-bank providers must give a standardized disclosure under the Commercial Finance Disclosure Law before you sign."},{"q":"Does New York require a disclosure for factoring deals?","a":"Yes, for most deals of $2.5MM or less. Since August 1, 2023, providers covered by Financial Services Law Article 8 must disclose the purchase price, finance charge, an estimated APR and other terms on factoring offers. Banks, providers with 5 or fewer New York deals a year, and larger deals are exempt. The Department of Financial Services enforces it."},{"q":"Where do I search for UCC liens in New York?","a":"Search the New York Department of State's UCC records online at ucc-efiling.dos.ny.gov using your exact legal name. Funders look for banks, equipment lenders or cash advance providers claiming accounts receivable. A certified search costs $25. Fixture filings tied to real estate are recorded at the county level instead."},{"q":"How fast do New York public owners pay contractors?","a":"State agencies generally must pay within 30 days of a proper invoice, or 15 days for qualifying small businesses that ask for expedited payment, with interest owed after that. Highway contracts allow 75 days and New York City runs on its own invoice acceptance clock. Primes generally must pay subs within 7 days of being paid."}],"sources":[{"label":"NY Senate, Financial Services Law Article 8 (commercial financing)","url":"https://www.nysenate.gov/legislation/laws/FIS/A8"},{"label":"NY Senate, Financial Services Law §802 exemptions","url":"https://www.nysenate.gov/legislation/laws/FIS/802"},{"label":"NY Senate, Financial Services Law §812 penalties","url":"https://www.nysenate.gov/legislation/laws/FIS/812"},{"label":"Morgan Lewis, New York releases rule on commercial financing disclosures","url":"https://www.morganlewis.com/blogs/finreg/2023/02/new-york-releases-long-awaited-rule-on-commercial-financing-disclosures"},{"label":"NY Department of State, UCC frequently asked questions","url":"https://dos.ny.gov/ucc-frequently-asked-questions"},{"label":"NY Senate, State Finance Law §179-f","url":"https://www.nysenate.gov/legislation/laws/STF/179-F"},{"label":"NY Senate, State Finance Law §137","url":"https://www.nysenate.gov/legislation/laws/STF/137"},{"label":"Levelset, New York prompt payment","url":"https://www.levelset.com/prompt-payment/new-york-prompt-payment-faqs/"},{"label":"Levelset, New York mechanics lien","url":"https://www.levelset.com/mechanics-lien/new-york-lien-law-faqs/"},{"label":"NY Department of State, Uniform Commercial Code search and filing","url":"https://dos.ny.gov/uniform-commercial-code"}],"confidence":"high for the disclosure law, UCC office and statutory deadlines; medium on public payment details for municipalities and New York City, taken from Levelset rather than each statute. Pending bill S4604 (an APR safe harbor) was not enacted as of this check. The 2025 FAIR Business Practices Act was left out because sources disagree on how far it reaches business-to-business conduct.","page_url":"/states/new-york/"},{"code":"NC","name":"North Carolina","verifiedOn":"2026-11-12","summary":"North Carolina has no commercial financing disclosure law, so factoring offers are not required to come with a standardized cost summary. UCC-1 filings go to the UCC Section of the NC Department of the Secretary of State, and the payer base spans Charlotte banks and headquarters, Research Triangle life sciences, Piedmont manufacturers, hospital systems and major military installations.","economy":{"paragraphs":["North Carolina businesses that factor tend to sell to large institutions on 30 to 90 day terms. The payer base is broad: banks and corporate headquarters in Charlotte, pharmaceutical and life sciences companies in the Research Triangle, furniture and textile manufacturers in the Piedmont, hospital systems statewide, and the ports of Wilmington and Morehead City. Military installations add a large defense market, including Fort Bragg near Fayetteville, Camp Lejeune, Marine Corps Air Station Cherry Point and Seymour Johnson Air Force Base. Textile converters, staffing agencies, government contractors, construction subcontractors and distributors are frequent users of factoring.","Textile and apparel suppliers often wait net 60 to net 75 on brand and retailer orders and buy raw materials months ahead, so spring and holiday programs strain cash. Staffing firms carry weekly payroll against net 30 to net 60 terms. Construction subcontractors on life sciences, data center, university and public projects deal with pay applications and retainage, while defense contractors face mobilization costs before the first invoice is approved."],"metros":["Charlotte","Raleigh-Durham","Greensboro","Winston-Salem","Fayetteville","Wilmington"],"industries":["Textile and apparel","Furniture and manufacturing","Staffing agencies","Government and defense contracting","Construction subcontracting","Wholesale and distribution"],"federalInstallations":["Fort Bragg","Marine Corps Base Camp Lejeune","Marine Corps Air Station Cherry Point","Seymour Johnson Air Force Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"North Carolina has no state-specific commercial financing disclosure law of the kind Georgia and Florida adopted for deals of $500,000 or less. Earlier sales-based financing disclosure bills (2021, 2023) were not enacted, and we found no 2025 or 2026 enactment.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"North Carolina Department of the Secretary of State, Uniform Commercial Code Section (Raleigh)","searchUrl":"https://www.sosnc.gov/online_services/search/by_title/search_uniform_commercial_code","notes":"Online searches are free; the UCC Section will run a search on a written UCC-11 request for $38. Fixture filings go to the county Register of Deeds instead."},"publicPromptPay":{"statute":"N.C. Gen. Stat. §143-134.1 (public construction)","days":"Periodic payments follow the contract; the balance due a prime is payable within 45 days after the project is accepted, certified complete or occupied, whichever comes first","interest":"1% per month on late payments to primes (from day 46) and to subs (from day 8), unless a lower rate is agreed","notes":"Primes must pay subs within 7 days of receiving each periodic or final payment. Retainage is capped at 5%, is not allowed on projects under $150,000, and generally stops at 50% completion with satisfactory performance. DOT contracts under G.S. 136-28.1 are excluded.","sourceUrl":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_143/GS_143-134.1.html"},"privatePromptPay":{"statute":"N.C. Gen. Stat. §22C-1 et seq.","ownerToContractor":"No statutory deadline; set by the contract","contractorToSub":"Within 7 days after the contractor or subcontractor receives periodic or final payment","interest":"1% per month from the 8th day (G.S. 22C-5)","notes":"Pay-when-paid clauses are unenforceable: payment by the owner is not a condition precedent to paying a sub (G.S. 22C-2).","sourceUrl":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_22C/GS_22C-5.html"},"lien":{"statute":"N.C. Gen. Stat. §44A-7 et seq. (Chapter 44A, Article 2)","preliminaryNotice":"Where the owner has designated a lien agent (required for improvements costing $40,000 or more, with owner-occupied home exceptions), serve a Notice to Lien Agent within 15 days after first furnishing to protect lien rights and priority","claimDeadline":"Within 120 days after the claimant's last furnishing of labor or materials at the site (G.S. 44A-12)","enforceDeadline":"Within 180 days after last furnishing (G.S. 44A-13)","sourceUrl":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_44A/GS_44A-12.html"},"publicBond":{"statute":"N.C. Gen. Stat. §44A-25 et seq. (Chapter 44A, Article 3)","threshold":"Required from each contractor with a contract over $50,000 when total construction contracts on the project exceed $300,000 ($500,000 for state departments, agencies and the UNC system)","claimNotice":"A claimant without a contract with the prime must give written notice of claim to the prime within 120 days after its last labor or materials","sourceUrl":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_44A/GS_44A-26.html"},"other":["A defective claim of lien in North Carolina generally cannot be amended; it must be cancelled and refiled inside the original 120 days, so funders check filings closely.","Federal prime contract payments are factored with an Assignment of Claims Act assignment acknowledged by the contracting officer, while subs to primes at the state's bases are underwritten on the prime's credit instead."],"faqs":[{"q":"Is invoice factoring legal in North Carolina?","a":"Yes. Factoring is a sale of receivables under North Carolina's version of UCC Article 9, and the state has no factoring license or disclosure law. The funder files a UCC-1 with the Secretary of State and notifies your customers to pay it. Advances commonly run 70% to 90% of invoice value."},{"q":"Does North Carolina require a disclosure for factoring deals?","a":"Not as of this update. North Carolina has not adopted a commercial financing disclosure law like Georgia's or Florida's, and we found no 2025 or 2026 bill that passed. Ask any funder for total dollar cost, advance amount and exit terms in writing before you sign, and compare offers on those figures."},{"q":"Where do I search for UCC liens in North Carolina?","a":"Search the UCC Section of the NC Department of the Secretary of State online for free at sosnc.gov, using your exact legal name. The office will also run a search on a written UCC-11 request for $38. Fixture filings tied to real estate are at the county Register of Deeds instead."},{"q":"Do North Carolina public projects have to pay subcontractors quickly?","a":"Yes. Under G.S. 143-134.1, a prime contractor on a public construction project must pay each subcontractor within 7 days of receiving a periodic or final payment from the owner. Late payments generally carry interest of 1% per month. That fast pass-through shortens collection time on public-job receivables."}],"sources":[{"label":"NC General Statutes §143-134.1 (public construction payments)","url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_143/GS_143-134.1.html"},{"label":"NC General Statutes §44A-12 (claim of lien deadline)","url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_44A/GS_44A-12.html"},{"label":"NC General Statutes §44A-13 (enforcement deadline)","url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_44A/GS_44A-13.html"},{"label":"NC General Statutes §44A-11.1 (lien agent)","url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_44A/GS_44A-11.1.html"},{"label":"NC General Statutes §44A-26 (bond requirement)","url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_44A/GS_44A-26.html"},{"label":"NC General Statutes §44A-27 (bond claim notice)","url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_44A/GS_44A-27.html"},{"label":"NC General Statutes §22C-5 (private payments to subcontractors)","url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_22C/GS_22C-5.html"},{"label":"NC Secretary of State, Uniform Commercial Code","url":"https://www.sosnc.gov/divisions/uniform_commercial_code"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Levelset, North Carolina prompt payment","url":"https://www.levelset.com/prompt-payment/north-carolina-prompt-payment-faqs/"}],"confidence":"high; construction and payment fields were read from the General Statutes and match the existing North Carolina page, with no corrections needed. Added detail: the public bond threshold is $500,000 (not $300,000) for state agencies and the UNC system. The 'cannot be amended' lien point is carried over from the existing page and was not re-verified against a statute this session. The UCC search URL is the Secretary of State's listed search page; its bot check blocked our direct load.","page_url":"/southeast/north-carolina/"},{"code":"ND","name":"North Dakota","verifiedOn":"2026-11-12","summary":"North Dakota has no commercial financing disclosure law, but a 2025 change to its Money Brokers Act lets the Department of Financial Institutions designate alternative financing products as loans, which could someday reach some factoring. UCC filings go online into the Secretary of State's Central Indexing System, and the payer base is energy, agriculture, two Air Force bases and regional health systems.","economy":{"paragraphs":["North Dakota's receivables come mostly from energy, agriculture and public payers. In the Bakken around Williston, Watford City and Dickinson, trucking, water-hauling, oilfield service and equipment companies bill exploration and pipeline operators. In the Red River Valley, suppliers sell to grain elevators, sugar beet processors and food manufacturers, while Fargo and West Fargo host agricultural equipment makers and distributors. Health systems headquartered in Fargo, Bismarck and Grand Forks buy staffing and services. Contractors and suppliers also serve Minot and Grand Forks Air Force Bases and state agencies in Bismarck.","Oil operators commonly pay vendors on 60 to 90 day cycles, and slowdowns in drilling stretch those terms further. Construction is compressed into a short building season from spring to fall, so subcontractors carry heavy receivables in late summer. Agricultural receivables follow planting and harvest, and payments to suppliers often land after crops are sold."],"metros":["Fargo","Bismarck","Grand Forks","Minot","Williston","Dickinson"],"industries":["Oilfield services and trucking","Agriculture and food processing","Agricultural equipment manufacturing","Construction subcontracting","Healthcare staffing","Wholesale distribution"],"federalInstallations":["Minot Air Force Base","Grand Forks Air Force Base","Cavalier Space Force Station"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Commentators read the change as not reaching true factoring (where repayment is not absolute) unless the Department designates it. We found no published designation order as of this check. No disclosure-style registration. Separately, HB 1127 (2025, effective August 1, 2025) amended the Money Brokers Act (N.D.C.C. §13-04.1-01.1) so the Department of Financial Institutions may designate alternative financing products as loans, which would require a money broker license, a 36% annual cap on charges and TILA-style disclosures for designated products.","sourceUrl":"https://ndlegis.gov/sites/default/files/resource/69-2025/library/hb1127.pdf","thresholdUsd":null},"ucc":{"office":"North Dakota Secretary of State, Central Indexing System (NDCIS)","searchUrl":"https://cis.sos.nd.gov/UCCPublicSearch","notes":"Lien filings must be made online, and NDCIS also indexes farm products central notices, statutory agricultural liens and tax liens; the free public search is uncertified, while certified UCC-11 searches need a login."},"publicPromptPay":{"statute":"N.D.C.C. §13-01.1-01 et seq.","days":"By the contract date, or if none, within 45 days after receipt of the invoice","interest":"1.75% per month unless the contract sets a different rate","notes":"Applies to state agencies, political subdivisions and school districts buying property or services, including public construction; Levelset reports the same 45-day period for payments down the chain. North Dakota has no private construction prompt payment statute.","sourceUrl":"https://www.levelset.com/prompt-payment/north-dakota-prompt-payment-faqs/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"North Dakota has no prompt payment statute for private construction; payment timing is set by contract.","sourceUrl":"https://www.levelset.com/prompt-payment/north-dakota-prompt-payment-faqs/"},"lien":{"statute":"N.D.C.C. ch. 35-27","preliminaryNotice":"Written notice that a lien will be claimed must go to the owner by certified mail at least 10 days before recording (N.D.C.C. §35-27-02)","claimDeadline":"Record with the county recorder within 90 days after the claimant's contribution is done (N.D.C.C. §35-27-13)","enforceDeadline":"Within 3 years after recording, or within 30 days after an owner's written demand; written notice of intent to enforce must precede suit","sourceUrl":"https://ndlegis.gov/cencode/t35c27.pdf"},"publicBond":{"statute":"N.D.C.C. §48-01.2-10 to 48-01.2-12","threshold":"Public improvement contracts over $100,000","claimNotice":"Claim to the prime contractor within 90 days after the claimant's last labor or materials; suit within 1 year after completion and acceptance of the project","sourceUrl":"https://www.levelset.com/bond-claim/north-dakota-bond-claim-faqs/"},"other":["Watch the Department of Financial Institutions: if it designates factoring or similar products as alternative financing products under HB 1127, providers serving North Dakota businesses would need a money broker license and would face the 36% annual cap.","Liens on wind turbines and other electric energy conversion facilities attach only to the leasehold, not the landowner's land, under §35-27-13."],"faqs":[{"q":"Is invoice factoring legal in North Dakota?","a":"Yes. Factoring is a sale of receivables under the UCC, and North Dakota has no factoring-specific license today. A 2025 law lets the Department of Financial Institutions designate alternative financing products as loans under the Money Brokers Act, but we found no designation covering factoring as of late 2026."},{"q":"Does North Dakota require a disclosure for factoring deals?","a":"No. North Dakota has no commercial financing disclosure law. If the Department of Financial Institutions ever designated factoring as an alternative financing product, loan-style rules would apply, including licensing and a 36% annual cap. For now, ask any funder for the advance rate, all fees and the exit terms in writing."},{"q":"Where do I search for UCC liens in North Dakota?","a":"Use the Secretary of State's Central Indexing System at cis.sos.nd.gov. The public search needs no login and is free but uncertified; certified UCC-11 searches require an account. NDCIS also shows farm products notices and tax liens, which matter if you sell agricultural goods or owe back taxes."},{"q":"How fast do North Dakota public agencies pay vendors?","a":"State agencies, political subdivisions and school districts must pay on the contract date, or within 45 days after receiving the invoice if the contract is silent. Late payments generally carry interest of 1.75% per month unless the contract sets another rate. That 45-day ceiling helps funders price government receivables."}],"sources":[{"label":"North Dakota Legislature, HB 1127 (2025) hearing record and text","url":"https://ndlegis.gov/sites/default/files/resource/69-2025/library/hb1127.pdf"},{"label":"Mayer Brown, North Dakota broadens licensing law to include alternative financing","url":"https://www.mayerbrown.com/ja/insights/publications/2025/06/north-dakota-broadens-licensing-law-to-include-alternative-financing"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"North Dakota Secretary of State, lien searches","url":"https://www.sos.nd.gov/business/lien-filings-ucc/lien-searches"},{"label":"North Dakota Secretary of State, Central Indexing System","url":"https://sos.nd.gov/central-indexing-ucc"},{"label":"North Dakota Century Code ch. 35-27 (construction liens)","url":"https://ndlegis.gov/cencode/t35c27.pdf"},{"label":"Levelset, North Dakota prompt payment","url":"https://www.levelset.com/prompt-payment/north-dakota-prompt-payment-faqs/"},{"label":"Levelset, North Dakota bond claims","url":"https://www.levelset.com/bond-claim/north-dakota-bond-claim-faqs/"}],"confidence":"high for the lien statute (read from the official Century Code), UCC office and public prompt pay; medium on whether the Department of Financial Institutions has issued any alternative financing designation, since we found none but did not search its orders page directly.","page_url":"/states/north-dakota/"},{"code":"OH","name":"Ohio","verifiedOn":"2026-11-12","summary":"Ohio has no commercial financing disclosure law, so factoring offers carry no state-mandated cost summary. UCC-1 filings go to the Ohio Secretary of State, whose online search is free, and the payer base is automotive OEMs and tier suppliers, large hospital systems, logistics hubs and the Wright-Patterson defense market.","economy":{"paragraphs":["Ohio businesses that factor often sit in long supply chains. Tier 2 and tier 3 suppliers ship parts to Honda in Marysville and East Liberty, Stellantis in Toledo and Ford and GM operations, and those OEMs and tier 1s set the payment terms. Cleveland Clinic, OhioHealth and other hospital systems buy staffing and services. Columbus and Cincinnati host big distribution and air cargo operations, and consumer goods and grocery headquarters in Cincinnati drive vendor receivables. Around Dayton, contractors serve Wright-Patterson Air Force Base, and the Intel site in New Albany has pulled in construction subcontractors.","Automotive buyers commonly pay on net 45 to net 90 terms, and model changeovers or production cuts can stall payments. Construction subcontractors wait on pay applications and retainage, protected by Ohio's 10-day pass-through rule. Freight and logistics firms face 30 to 60 day shipper terms, and construction in northern Ohio slows in winter."],"metros":["Columbus","Cleveland","Cincinnati","Toledo","Akron","Dayton"],"industries":["Automotive parts manufacturing","Logistics and warehousing","Healthcare staffing and services","Construction subcontracting","Steel and metal fabrication","Defense and aerospace contracting"],"federalInstallations":["Wright-Patterson Air Force Base","Defense Supply Center Columbus (DLA Land and Maritime)","NASA Glenn Research Center"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"We found no Ohio commercial financing disclosure law in 2025 or 2026. HB 105 (signed 2026, effective October 6, 2026) regulates litigation funding, not invoice factoring.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Ohio Secretary of State, Business Services Division, UCC Section (Columbus)","searchUrl":"https://ucc.ohiosos.gov/dashboard","notes":"Online searches by debtor, secured party or filing number are free, and official search certificates can be ordered; fixture filings and timber or as-extracted collateral go to the county recorder (R.C. 1309.501)."},"publicPromptPay":{"statute":"Ohio Rev. Code §126.30","days":"By the contract payment date, or if none, 30 days after the state agency receives a proper invoice; the agency must flag a defective invoice within 15 days","interest":"Monthly rate equal to 1/12 of the annual rate set under R.C. 5703.47 (the state's tax interest rate), compounding every 30 days; amounts under $10 are not paid","notes":"Applies to state agencies. On public construction, primes and subs must pass payment down within 10 days, with 18% annual interest on late payments to subs.","sourceUrl":"https://codes.ohio.gov/ohio-revised-code/section-126.30"},"privatePromptPay":{"statute":"Ohio Rev. Code §4113.61","ownerToContractor":"No statutory deadline; set by the contract","contractorToSub":"Within 10 calendar days after the contractor receives payment from the owner, including final retainage","interest":"18% per year on late payments to subs and suppliers","notes":"Bills to add an owner-to-contractor deadline (most recently HB 288 in the 2025 to 2026 session, reported by a House committee) have not become law as of this check.","sourceUrl":"https://codes.ohio.gov/ohio-revised-code/section-4113.61"},"lien":{"statute":"Ohio Rev. Code §1311.01 et seq.","preliminaryNotice":"Subs and suppliers without a contract with the owner must serve a Notice of Furnishing within 21 days after first furnishing (or after a Notice of Commencement is recorded) when the owner has recorded a Notice of Commencement","claimDeadline":"Within 75 days after last furnishing on commercial projects; 60 days for one- and two-family dwellings and residential condo units; 120 days for oil and gas well liens (R.C. 1311.06)","enforceDeadline":"The lien lasts 6 years after the affidavit is filed (R.C. 1311.13), but if the owner serves a Notice to Commence Suit, suit is generally due within 60 days of receiving it","sourceUrl":"https://codes.ohio.gov/ohio-revised-code/section-1311.06"},"publicBond":{"statute":"Ohio Rev. Code §153.54 to 153.56","threshold":null,"claimNotice":"Subs or suppliers furnishing more than $30,000 without a direct contract with the prime must serve a Notice of Furnishing; claim to the surety no later than 90 days after completion and acceptance; suit after 60 days and within 1 year of acceptance","sourceUrl":"https://codes.ohio.gov/ohio-revised-code/section-153.56"},"other":["On Ohio public jobs, subs can also file a lien on unpaid public contract funds, served on the public authority and recorded with the county recorder, alongside the bond claim.","Ohio's 18% annual interest on late payments to subs (R.C. 4113.61) is one of the higher statutory rates, which gives subcontractors real recourse when a prime holds funds."],"faqs":[{"q":"Is invoice factoring legal in Ohio?","a":"Yes. Factoring is a sale of receivables under Ohio's version of UCC Article 9 (R.C. Chapter 1309). Ohio has no factoring license and no commercial financing disclosure law. The funder files a UCC-1 with the Ohio Secretary of State and notifies your customers to pay it directly."},{"q":"Does Ohio require a disclosure for factoring deals?","a":"No. Ohio has not passed a commercial financing disclosure law like New York's or Georgia's. Its 2026 litigation funding law (HB 105) does not apply to invoice factoring. Without a required summary, ask each funder for the advance rate, every fee, the dollar cost on your expected volume and the termination terms in writing."},{"q":"Where do I search for UCC liens in Ohio?","a":"Use the Ohio Secretary of State's UCC portal at ucc.ohiosos.gov. Searches by debtor name, secured party or filing number are free and show filing images. Order an official search certificate if a funder or lender needs one. Clear old liens with UCC-3 terminations before you apply."},{"q":"How fast must Ohio contractors pay subcontractors?","a":"On both private and public construction, a contractor must pay a sub or supplier within 10 calendar days after receiving payment for that work, including retainage. Late payments accrue interest at 18% per year. Ohio sets no general deadline for private owners to pay the prime, so that depends on the contract."}],"sources":[{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Ohio Revised Code §1357.09 (HB 105 litigation financing)","url":"https://codes.ohio.gov/ohio-revised-code/section-1357.09"},{"label":"Ohio Secretary of State, UCC Online Services","url":"https://www.ohiosos.gov/business/uniform-commercial-code"},{"label":"Ohio Revised Code §1309.501 (filing office)","url":"https://codes.ohio.gov/ohio-revised-code/section-1309.501"},{"label":"Ohio Revised Code §126.30 (state agency late payments)","url":"https://codes.ohio.gov/ohio-revised-code/section-126.30"},{"label":"Ohio Revised Code §4113.61 (payments to subcontractors)","url":"https://codes.ohio.gov/ohio-revised-code/section-4113.61"},{"label":"Ohio Revised Code §1311.06 (lien affidavit deadlines)","url":"https://codes.ohio.gov/ohio-revised-code/section-1311.06"},{"label":"Ohio Revised Code §1311.13 (lien duration)","url":"https://codes.ohio.gov/ohio-revised-code/section-1311.13"},{"label":"Levelset, Ohio mechanics lien","url":"https://www.levelset.com/mechanics-lien/ohio-lien-law-faqs/"},{"label":"Ohio Revised Code §153.56 (public bond claims)","url":"https://codes.ohio.gov/ohio-revised-code/section-153.56"}],"confidence":"high; most fields were read from the Ohio Revised Code. We could not confirm a dollar threshold for Ohio's public payment bond requirement (left null). HB 105's October 6, 2026 effective date comes from the Revised Code's version note for §1357.09.","page_url":"/states/ohio/"},{"code":"OK","name":"Oklahoma","verifiedOn":"2026-11-12","summary":"Oklahoma has no commercial financing disclosure law, so a factoring offer here does not come with a state-mandated cost disclosure. UCC-1 financing statements are filed centrally with the Oklahoma County Clerk rather than the Secretary of State, and the payer base leans on energy companies, Air Force maintenance work at Tinker and state agencies.","economy":{"paragraphs":["Oklahoma receivables come from a few deep payer pools. Energy is the biggest: oilfield service firms, trucking outfits and fabricators bill large exploration and midstream companies headquartered in Oklahoma City and Tulsa. Aerospace is second. The Oklahoma City Air Logistics Complex at Tinker Air Force Base is one of the largest military maintenance depots in the country, and Tulsa hosts a major airline maintenance base and a cluster of aerospace parts makers. Fort Sill, Vance, Altus and the McAlester Army Ammunition Plant add federal work, while hospital systems, state agencies and agriculture (cattle, wheat) round out the list.","Energy payers often run on net 60 to net 90 terms with invoice approval steps, and volumes swing with oil and gas prices, so a supplier can grow fast and then wait longer to get paid. Federal and prime-contractor work at Tinker pays reliably but slowly. Construction subcontractors on public jobs work under the Fair Pay for Construction Act clocks, while private jobs follow the contract."],"metros":["Oklahoma City","Tulsa","Norman","Lawton"],"industries":["Oil and gas services","Aerospace maintenance and parts","Trucking and logistics","Agriculture and food processing","Healthcare services","Construction"],"federalInstallations":["Tinker Air Force Base","Fort Sill","Vance Air Force Base","Altus Air Force Base","McAlester Army Ammunition Plant"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Oklahoma commercial financing disclosure statute was found as of November 2026, and law-firm surveys of enacted state laws do not list Oklahoma. Ask each funder for total dollar cost, fees and exit terms in writing.","sourceUrl":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws","thresholdUsd":null},"ucc":{"office":"Oklahoma County Clerk, UCC Central Filing Office (Oklahoma City), the statewide central filing office","searchUrl":null,"notes":"Unusually, most UCC filings statewide go to the Oklahoma County Clerk, not the Secretary of State; transmitting utility filings go to the Secretary of State and fixture filings go where a mortgage would be recorded."},"publicPromptPay":{"statute":"62 O.S. §§34.71 and 34.72; 74 O.S. §500.16A; OMES Prompt Payment Rules (OAC 260:10)","days":"Generally within 45 days of the designated office receiving a proper invoice","interest":"Late-payment interest at an annual rate set from the State Treasurer's average 30-day deposit rate (3.68% a year for FY2027, July 1, 2026 to June 30, 2027)","notes":"Public construction is governed separately by the Fair Pay for Construction Act (61 O.S. §§221-227): progress payments within 30 days of a proper invoice, and 1.5% per month interest on late payments to subs and suppliers.","sourceUrl":"https://oklahoma.gov/omes/services/accounting-reporting/transaction-processing/prompt-payment-information.html"},"privatePromptPay":{"statute":"15 O.S. §820","ownerToContractor":"Within 28 calendar days after receipt of billing, when the contract does not set other terms","contractorToSub":"Within 10 calendar days of payment from the owner","interest":null,"notes":"The private statute does not set a late-payment interest rate, and contract terms generally control. It excludes low-rise residential and low-income housing contracts.","sourceUrl":"https://www.levelset.com/prompt-payment/oklahoma-prompt-payment-law/"},"lien":{"statute":"42 O.S. §141 et seq.","preliminaryNotice":"Subcontractors and suppliers (not the original contractor) generally must send a pre-lien notice to the owner and original contractor no later than 75 days after last furnishing when the claim is $10,000 or more or the property is an owner-occupied dwelling (42 O.S. §142.6).","claimDeadline":"Generally within 90 days after last furnishing for subcontractors and suppliers (4 months for original contractors)","enforceDeadline":"Generally within 1 year after the lien is filed with the county clerk","sourceUrl":"https://www.levelset.com/mechanics-lien/oklahoma-lien-law-faqs/"},"publicBond":{"statute":"61 O.S. §§1-2","threshold":"Public contracts over $100,000 (raised from $50,000 effective November 1, 2022)","claimNotice":"Claimants without a direct contract with the prime must give written notice to the contractor and surety within 90 days of last furnishing; suit generally within 1 year of last labor","sourceUrl":"https://www.levelset.com/bond-claim/oklahoma-bond-claim-faqs"},"other":["UCC searches run through the Oklahoma County Clerk's central filing office, so a funder checking for existing liens on receivables searches there, not at the Secretary of State.","Oklahoma's private construction prompt pay statute sets due dates but no statutory interest, so the interest and payment terms in your contract matter more here than in many states."],"faqs":[{"q":"Is invoice factoring legal in Oklahoma?","a":"Yes. Factoring is a sale of receivables, and Oklahoma's version of UCC Article 9 governs it like other states. The funder files a UCC-1 financing statement with the Oklahoma County Clerk's central filing office and notifies your customers to pay the funder. Before you sign, check your existing loan documents for liens on receivables."},{"q":"Does Oklahoma require a disclosure for factoring deals?","a":"No. As of November 2026 Oklahoma has not enacted a commercial financing disclosure law like those in California, New York or Georgia. A factoring offer here does not have to include a standardized cost disclosure, so ask each funder for the advance rate, every fee, the total dollar cost on your expected volume and the termination terms in writing."},{"q":"Where do I search for UCC liens in Oklahoma?","a":"Search the UCC records of the Oklahoma County Clerk in Oklahoma City, which serves as the statewide central filing office for most UCC financing statements. This is unusual: in most states the Secretary of State holds these records. Fixture filings are recorded where a real estate mortgage would be, and transmitting utility filings go to the Secretary of State."},{"q":"Can I factor invoices from work at Tinker Air Force Base?","a":"Generally, yes. If you hold a federal prime contract, the receivable is assigned to the funder under the federal Assignment of Claims Act, which requires notice to the contracting officer. If you are a subcontractor to a prime at Tinker or another installation, your invoices are factored like any commercial receivable, priced on the prime contractor's credit and payment history."}],"sources":[{"label":"Oklahoma County Clerk, Uniform Commercial Code","url":"https://oklahomacounty.org/Services/Uniform-Commercial-Code-UCC"},{"label":"Oklahoma OMES, prompt payment information","url":"https://oklahoma.gov/omes/services/accounting-reporting/transaction-processing/prompt-payment-information.html"},{"label":"Levelset, Oklahoma prompt payment requirements","url":"https://www.levelset.com/prompt-payment/oklahoma-prompt-payment-law/"},{"label":"Husch Blackwell, Oklahoma prompt payment summary","url":"https://huschblackwell.com/oklahoma-state-by-state-summary-of-prompt-payment"},{"label":"Levelset, Oklahoma lien law FAQs","url":"https://www.levelset.com/mechanics-lien/oklahoma-lien-law-faqs/"},{"label":"Levelset, Oklahoma bond claim FAQs","url":"https://www.levelset.com/bond-claim/oklahoma-bond-claim-faqs"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"medium: disclosure status, UCC office, lien and bond deadlines verified; the state-agency interest start date (statute text vs. OMES rules) and a direct UCC search URL could not be confirmed from an official page, so the URL is null.","page_url":"/states/oklahoma/"},{"code":"OR","name":"Oregon","verifiedOn":"2026-11-12","summary":"Oregon has no commercial financing disclosure law, so factoring offers here carry no state-mandated cost disclosure. UCC-1 filings go to the Secretary of State's Corporation Division, and Oregon's construction rules are short and strict: a 75-day lien window, a 120-day foreclosure clock and statutory interest of 1.5% per month on late private construction payments.","economy":{"paragraphs":["Oregon receivables cluster around a few large buyers. In the Portland metro, semiconductor fabs and suppliers around Hillsboro, the athletic footwear and apparel headquarters in Beaverton and a heavy-truck maker in Portland buy from machine shops, staffing firms, logistics companies and packaging suppliers. The Port of Portland and the Columbia River barge system move grain, autos and containers. Wood products and timber still drive the southern and central valleys, data centers in Hillsboro and Prineville buy construction and electrical work, and hospital systems such as OHSU and Providence are steady but slow payers. Federal power and Air National Guard work add government receivables.","Seasonality is real in Oregon. Nursery stock, wine grapes, hazelnuts and other Willamette Valley crops bill in harvest bursts, and food processors pay growers and haulers on long terms. Tech supply chains often run net 60 to net 90 with strict supplier portals. Construction subs should note that private owners must pay within 14 days of a billing under Oregon law, which shortens the gap a funder has to cover."],"metros":["Portland","Salem","Eugene","Bend","Medford"],"industries":["Semiconductors and electronics","Wood products and timber","Food processing and agriculture","Logistics and port services","Healthcare services","Construction"],"federalInstallations":["Kingsley Field Air National Guard Base","Portland Air National Guard Base","Bonneville Power Administration (Portland headquarters)"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Oregon commercial financing disclosure statute was found as of November 2026, and law-firm surveys of enacted state laws do not list Oregon.","sourceUrl":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws","thresholdUsd":null},"ucc":{"office":"Oregon Secretary of State, Corporation Division (UCC section, Salem)","searchUrl":"https://secure.sos.state.or.us/ucc/searchHome.action","notes":"All UCC filings can be made online; fixture filings are recorded in the county real property records, and custom or certified searches are available by request form."},"publicPromptPay":{"statute":"ORS 293.462","days":"Claims are overdue if not paid within 45 days of the latest of invoice receipt, billing statement or the date the claim is made certain","interest":"Two-thirds of 1% per month, capped at 8% a year, on overdue state agency accounts","notes":"Public construction follows ORS 279C.570 (interest on late progress payments at 3 times the 90-day commercial paper discount rate, capped at 30%) and ORS 279C.580 (primes pay subs within 10 days of being paid).","sourceUrl":"https://oregon.public.law/statutes/ors_293.462"},"privatePromptPay":{"statute":"ORS 701.620 to 701.640","ownerToContractor":"Progress payments no later than 14 days after the owner receives the billing; final payment within 7 days after the owner approves the work","contractorToSub":"Within 7 days after the original contractor receives payment","interest":"1.5% per month on late payments","notes":"The prevailing party in an action to collect interest can recover costs and reasonable attorney fees.","sourceUrl":"https://www.levelset.com/prompt-payment/oregon-prompt-payment-law/"},"lien":{"statute":"ORS 87.001 to 87.093","preliminaryNotice":"A notice of right to a lien to the owner is generally required from suppliers of materials, equipment or services not hired by the owner (not for labor on a commercial improvement); it protects only work furnished from 8 business days before the notice is delivered (ORS 87.021).","claimDeadline":"Generally within 75 days after the claimant's last furnishing or after completion of construction, whichever is earlier","enforceDeadline":"Generally within 120 days after the lien is filed, with a notice of intent to foreclose sent at least 10 days before suit","sourceUrl":"https://www.levelset.com/mechanics-lien/oregon-lien-law-faqs/"},"publicBond":{"statute":"ORS 279C.380 and 279C.600 to 279C.610","threshold":"Public improvement contracts over $100,000 (over $50,000 for highway, bridge and other transportation projects)","claimNotice":"Written notice of claim to the contractor and contracting agency no later than 180 days after last furnishing; suit within 2 years after last furnishing","sourceUrl":"https://www.levelset.com/bond-claim/oregon-bond-claim-faqs"},"other":["Oregon's private construction prompt pay law (ORS 701.620 et seq.) carries 1.5% per month interest and fee shifting, which makes construction receivables in Oregon more predictable to factor than in states without a private statute.","The 75-day lien window is measured from last furnishing or completion of the whole project, whichever is earlier, so an early-phase sub can lose lien rights before its own work ends."],"faqs":[{"q":"Is invoice factoring legal in Oregon?","a":"Yes. Factoring is a sale of accounts receivable governed by Oregon's version of UCC Article 9. The funder files a UCC-1 with the Secretary of State's Corporation Division and sends your customers a notice of assignment so they pay the funder. Oregon has no factoring-specific disclosure law, so the contract terms you negotiate are what govern the deal."},{"q":"Does Oregon require a disclosure for factoring deals?","a":"No. As of November 2026 Oregon has not enacted a commercial financing disclosure law like California's or New York's, and law-firm surveys of enacted state laws do not list it. Without a standard form, ask each funder for the advance rate, every fee, the total dollar cost at your volume and the exit terms in writing before you compare offers."},{"q":"Where do I search for UCC liens in Oregon?","a":"Use the Oregon Secretary of State's online UCC search, run by the Corporation Division. Search your exact legal business name and note every secured party with a lien on accounts or general intangibles. Fixture filings are recorded with the county where the real property sits, and the Corporation Division takes custom search requests by form."},{"q":"How fast must a private owner pay a contractor in Oregon?","a":"Under ORS 701.620 et seq., a private owner generally must make progress payments within 14 days after receiving a billing, and a contractor must pay subs within 7 days after it is paid. Late amounts generally carry 1.5% per month interest. Contracts can add detail, so read yours, but these short clocks make Oregon construction receivables easier to finance."}],"sources":[{"label":"Oregon Secretary of State, Corporation Division public records online","url":"https://sos.oregon.gov/business/Pages/corporation-division-public-records-online.aspx"},{"label":"Oregon Secretary of State, UCC search","url":"https://secure.sos.state.or.us/ucc/searchHome.action"},{"label":"ORS 293.462, interest on overdue state accounts","url":"https://oregon.public.law/statutes/ors_293.462"},{"label":"Levelset, Oregon prompt payment requirements","url":"https://www.levelset.com/prompt-payment/oregon-prompt-payment-law/"},{"label":"Levelset, Oregon lien law FAQs","url":"https://www.levelset.com/mechanics-lien/oregon-lien-law-faqs/"},{"label":"Levelset, Oregon bond claim FAQs","url":"https://www.levelset.com/bond-claim/oregon-bond-claim-faqs"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high for disclosure status, UCC office, state agency prompt pay and bond rules; medium for private prompt pay and lien details, which come from Levelset quoting the statutes rather than the official ORS site.","page_url":"/states/oregon/"},{"code":"PA","name":"Pennsylvania","verifiedOn":"2026-11-12","summary":"Pennsylvania has no commercial financing disclosure law in effect; HB 639, which would add small business financing disclosures, has sat in the House Commerce Committee since February 2025. UCC-1s are filed with the Department of State's Bureau of Corporations and Charitable Organizations, and the state has some of the most detailed payment statutes in the country for both public and private construction.","economy":{"paragraphs":["Pennsylvania's B2B receivables come from big, slow institutions. Health systems such as UPMC, Penn Medicine and Jefferson buy staffing, supplies and services on long terms. Pharmaceutical and life sciences companies cluster around Philadelphia, and the Lehigh Valley and I-81 corridor hold some of the densest warehouse and distribution networks in the East. Pittsburgh adds steel, advanced manufacturing and energy work tied to Marcellus Shale gas. The federal government is a major payer too, through Tobyhanna and Letterkenny Army Depots, Naval Support Activity Mechanicsburg and Defense Logistics Agency buying in Philadelphia.","Typical commercial terms run net 30 to net 60, but hospital systems and large distributors often stretch past 60 days. Construction is a large factoring segment because Pennsylvania's Contractor and Subcontractor Payment Act sets 20-day and 14-day payment clocks with 1% per month interest. Natural gas work swings with drilling activity, and warehouse and trucking volume peaks in the fourth quarter."],"metros":["Philadelphia","Pittsburgh","Allentown","Harrisburg","Scranton"],"industries":["Healthcare services","Pharmaceuticals and life sciences","Warehousing and distribution","Steel and advanced manufacturing","Natural gas services","Construction"],"federalInstallations":["Tobyhanna Army Depot","Letterkenny Army Depot","Naval Support Activity Mechanicsburg","Naval Support Activity Philadelphia","Carlisle Barracks"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"HB 639 (2025-2026 session) would amend the Loan Interest and Protection Law to require small business financing disclosures, but its last action was referral to the House Commerce Committee on February 20, 2025. Similar bills died in earlier sessions.","sourceUrl":"https://www.palegis.us/legislation/bills/2025/hb639","thresholdUsd":null},"ucc":{"office":"Pennsylvania Department of State, Bureau of Corporations and Charitable Organizations (UCC section, Harrisburg)","searchUrl":null,"notes":"Online UCC filing runs through the Department of State's Business Filing System (file.dos.pa.gov); an official search request costs $12 per debtor name, and fixture filings go to the county recorder of deeds."},"publicPromptPay":{"statute":"72 P.S. §1507 (Fiscal Code); 4 Pa. Code §§2.31-2.40","days":"30 days after receipt of a proper invoice when the contract sets no due date, with a 15-day grace period before interest","interest":"Interest penalties at the rate the Secretary of Revenue sets for overdue taxes; required for qualified small businesses (100 or fewer employees) that mark their invoices as such","notes":"Public construction falls under Chapter 39 of the Commonwealth Procurement Code (62 Pa.C.S. §3931 et seq.): progress payments within 45 days of the application when the contract is silent, and primes pay subs within 14 days of receipt.","sourceUrl":"https://www.pacodeandbulletin.gov/Display/pacode?file=/secure/pacode/data/004/chapter2/subchapBtoc.html"},"privatePromptPay":{"statute":"Contractor and Subcontractor Payment Act, 73 P.S. §501 et seq.","ownerToContractor":"Per the contract; if the contract is silent, 20 days after the end of the billing period or 20 days after delivery of the invoice, whichever is later","contractorToSub":"14 days after receipt of each progress or final payment, or 14 days after the sub's invoice, whichever is later","interest":"1% per month on late payments, plus a further 1% per month penalty and attorney fees if payment was wrongfully withheld","notes":"The 20-day owner deadline is a default that applies when the contract sets no payment terms; interest on late owner payments starts on the 8th day after the due date.","sourceUrl":"https://www.levelset.com/prompt-payment/pennsylvania-prompt-payment-law/"},"lien":{"statute":"Mechanics' Lien Law of 1963, 49 P.S. §1101 et seq.","preliminaryNotice":"On projects of $1.5MM or more where the owner filed a Notice of Commencement in the State Construction Notices Directory, subs must file a Notice of Furnishing within 45 days of first work. Subs must also give the owner formal written notice at least 30 days before filing a lien.","claimDeadline":"Generally within 6 months after completion of the claimant's work","enforceDeadline":"Generally within 2 years after the lien claim is filed","sourceUrl":"https://www.levelset.com/mechanics-lien/pennsylvania-lien-law-faqs/"},"publicBond":{"statute":"Public Works Contractors' Bond Law of 1967, 8 P.S. §191 et seq.","threshold":"Public works contracts over $5,000","claimNotice":"Claimants without a direct contract with the prime must give written notice to the prime within 90 days after last furnishing; suit generally within 1 year","sourceUrl":"https://www.levelset.com/bond-claim/pennsylvania-bond-claim-faqs"},"other":["Commonwealth agencies owe interest on late invoices only to qualified small businesses (100 or fewer employees) that state that status on each invoice, so add the statement if you qualify.","Subs on private projects of $1.5MM or more lose lien rights if they skip the 45-day Notice of Furnishing when a Notice of Commencement was filed in the State Construction Notices Directory."],"faqs":[{"q":"Is invoice factoring legal in Pennsylvania?","a":"Yes. Factoring is a sale of receivables governed by Pennsylvania's version of UCC Article 9 (13 Pa.C.S. Division 9). The funder files a UCC-1 with the Department of State and notifies your customers to pay it directly. Pennsylvania has no commercial financing disclosure law in effect, so the written contract is what defines your fees and exit terms."},{"q":"Does Pennsylvania require a disclosure for factoring deals?","a":"Not as of November 2026. HB 639 would add small business financing disclosures to the Loan Interest and Protection Law, but it has sat in the House Commerce Committee since February 2025, and earlier versions died. Until something passes, ask each funder for the advance rate, every fee and the total dollar cost at your volume in writing."},{"q":"Where do I search for UCC liens in Pennsylvania?","a":"UCC financing statements are filed with the Department of State's Bureau of Corporations and Charitable Organizations in Harrisburg, through its online Business Filing System. An official search request costs $12 per debtor name. Search your exact legal name. Fixture filings tied to real estate are recorded with the county recorder of deeds instead."},{"q":"How fast do Pennsylvania state agencies pay invoices?","a":"When a contract sets no due date, Commonwealth agencies generally must pay within 30 days of a proper invoice, with a 15-day grace period before interest. Interest penalties are owed to qualified small businesses with 100 or fewer employees that say so on the invoice. Construction contracts follow the Procurement Code's separate 45-day rule."}],"sources":[{"label":"Pennsylvania Department of State, Uniform Commercial Code","url":"https://www.pa.gov/agencies/dos/resources/business-resources/uniform-commercial-code"},{"label":"4 Pa. Code Subchapter B, interest penalties for late payments","url":"https://www.pacodeandbulletin.gov/Display/pacode?file=/secure/pacode/data/004/chapter2/subchapBtoc.html"},{"label":"Pennsylvania General Assembly, HB 639 (2025-2026)","url":"https://www.palegis.us/legislation/bills/2025/hb639"},{"label":"Levelset, Pennsylvania prompt payment requirements","url":"https://www.levelset.com/prompt-payment/pennsylvania-prompt-payment-law/"},{"label":"Levelset, Pennsylvania lien law FAQs","url":"https://www.levelset.com/mechanics-lien/pennsylvania-lien-law-faqs/"},{"label":"Levelset, Pennsylvania bond claim FAQs","url":"https://www.levelset.com/bond-claim/pennsylvania-bond-claim-faqs"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high for disclosure status (official bill page), state agency prompt pay (Pa. Code) and lien and bond rules; medium for the bond suit deadline (Levelset notes the 1-year accrual date is set by case law). No direct UCC search URL could be confirmed (the portal blocks automated access), so searchUrl is null.","page_url":"/states/pennsylvania/"},{"code":"RI","name":"Rhode Island","verifiedOn":"2026-11-12","summary":"Rhode Island has no commercial financing disclosure law, so factoring offers here carry no state-mandated cost disclosure. UCC-1s are filed with the Rhode Island Department of State, and the payer base is dominated by Navy and submarine work, health care and a few large corporate headquarters.","economy":{"paragraphs":["Rhode Island is small, but its receivables are concentrated in a few very large payers. Defense leads: the submarine builder's Quonset Point facility in North Kingstown employs thousands and buys from machine shops, welders, staffing firms and suppliers across the state, and Naval Station Newport hosts the Naval Undersea Warfare Center and Navy schools that contract for engineering and services. Health care is the second engine, led by Brown University Health and the state's other hospital systems. A national pharmacy and health company in Woonsocket and industrial conglomerate headquarters in Providence add corporate buyers, and the ports at Quonset-Davisville and Providence handle autos and bulk cargo.","Defense primes and their subcontract chains typically pay on net 30 to net 60 after inspection and acceptance, which can stretch with quality holds. Hospitals often pay on 60-day or longer cycles. Tourism around Newport and the coast is highly seasonal, so hospitality vendors and caterers see summer spikes. Rhode Island has no private construction prompt pay statute, so contract terms set the clock on private jobs."],"metros":["Providence","Warwick","Cranston","Pawtucket","Newport"],"industries":["Shipbuilding and defense manufacturing","Healthcare services","Marine trades","Jewelry and precision manufacturing","Tourism and hospitality","Construction"],"federalInstallations":["Naval Station Newport","Naval Undersea Warfare Center Division Newport","Quonset Air National Guard Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No Rhode Island commercial financing disclosure statute was found as of November 2026, and law-firm surveys of enacted state laws do not list Rhode Island.","sourceUrl":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws","thresholdUsd":null},"ucc":{"office":"Rhode Island Department of State (Secretary of State), Business Services Division, UCC section, Providence","searchUrl":"https://business.sos.ri.gov/CorpWeb/UccSearch/UccSearch.aspx","notes":"The office will not give filing information by phone, so searches are done in the online database, which keeps financing statements at least 1 year past their lapse date."},"publicPromptPay":{"statute":"R.I. Gen. Laws §42-11.1-1 et seq.","days":"Within 30 calendar days of receipt of a proper invoice, or by other contractual periodic payment dates","interest":"The prime rate as published in the Wall Street Journal on the first business day of each month, compounding monthly on unpaid interest","notes":"Contractors paid by the state must pay subs within 7 days of receipt; that sub rule does not apply to Department of Transportation contracts unless the sub posts its own payment and performance bond.","sourceUrl":"https://webserver.rilegislature.gov/Statutes/TITLE42/42-11.1/42-11.1-3.htm"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Rhode Island has no prompt payment statute for private construction; payment timing and interest are set by the contract.","sourceUrl":"https://www.levelset.com/prompt-payment/rhode-island-prompt-payment-law/"},"lien":{"statute":"R.I. Gen. Laws §34-28-1 et seq.","preliminaryNotice":"Contractors hired directly by the owner (other than material suppliers) must give the owner a notice of possible lien before starting work (§34-28-4.1); subcontractors and suppliers generally have no preliminary notice requirement.","claimDeadline":"Generally mail and record a notice of intention within 200 days after the work or materials were furnished","enforceDeadline":"Generally file the complaint to enforce and a notice of lis pendens within 40 days of recording the notice of intention","sourceUrl":"https://webserver.rilegislature.gov/Statutes/TITLE34/34-28/34-28-4.htm"},"publicBond":{"statute":"R.I. Gen. Laws §37-12-1 et seq.","threshold":"All public building construction, improvement or repair contracts; public road and bridge contracts over $150,000","claimNotice":"Claimants without a direct contract with the prime must give written notice by certified mail within 90 days of last furnishing; suit within 2 years","sourceUrl":"https://webserver.rilegislature.gov/Statutes/TITLE37/37-12/37-12-1.htm"},"other":["Rhode Island's lien enforcement window is very short: the complaint and lis pendens are generally due within 40 days of recording the notice of intention, so a funder will check filing dates closely.","Late state payments carry interest at the prime rate, compounding monthly, which is lower than the flat 1% to 1.5% per month rates in many states."],"faqs":[{"q":"Is invoice factoring legal in Rhode Island?","a":"Yes. Factoring is a sale of accounts receivable governed by Rhode Island's version of UCC Article 9. The funder files a UCC-1 with the Rhode Island Department of State and notifies your customers to pay it. Rhode Island has no commercial financing disclosure law, so the terms in your factoring agreement are what control fees, recourse and termination."},{"q":"Does Rhode Island require a disclosure for factoring deals?","a":"No. As of November 2026 Rhode Island has not enacted a commercial financing disclosure law, and law-firm surveys of enacted state laws do not list it. A factoring offer here does not need a standardized cost disclosure, so ask each funder for the advance rate, all fees, the total dollar cost at your volume and the exit terms in writing."},{"q":"Where do I search for UCC liens in Rhode Island?","a":"Use the Rhode Island Department of State's online UCC search, which lets you search by debtor name with exact or begins-with matching. The office does not give filing information by phone, so the database is the place to check. Search your exact legal name and list every secured party with a lien on receivables."},{"q":"Can I factor invoices to a Navy prime contractor in Rhode Island?","a":"Generally, yes. If you supply a shipbuilder or a Naval Station Newport prime as a subcontractor, your invoices are factored like any commercial receivable and priced on the prime's credit. If you hold a federal prime contract yourself, the receivable is assigned to the funder under the federal Assignment of Claims Act, which requires notice to the contracting officer."}],"sources":[{"label":"Rhode Island Department of State, Uniform Commercial Code","url":"https://sos.ri.gov/divisions/business-services/ucc"},{"label":"R.I. Gen. Laws §42-11.1-3, time period for payment","url":"https://webserver.rilegislature.gov/Statutes/TITLE42/42-11.1/42-11.1-3.htm"},{"label":"R.I. Gen. Laws §42-11.1-6, interest","url":"https://webserver.rilegislature.gov/Statutes/TITLE42/42-11.1/42-11.1-6.htm"},{"label":"R.I. Gen. Laws §34-28-4, notice of intention","url":"https://webserver.rilegislature.gov/Statutes/TITLE34/34-28/34-28-4.htm"},{"label":"R.I. Gen. Laws §37-12-1, contractor's bond","url":"https://webserver.rilegislature.gov/Statutes/TITLE37/37-12/37-12-1.htm"},{"label":"Levelset, Rhode Island lien law FAQs","url":"https://www.levelset.com/mechanics-lien/rhode-island-lien-law-faqs/"},{"label":"Levelset, Rhode Island prompt payment requirements","url":"https://www.levelset.com/prompt-payment/rhode-island-prompt-payment-law/"},{"label":"Levelset, Rhode Island bond claim FAQs","url":"https://www.levelset.com/bond-claim/rhode-island-bond-claim-faqs"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high: payment, lien and bond rules checked against the official R.I. General Laws (which corrected Levelset's 30 working days and 10-day sub figures to 30 calendar days and 7 days, and its $50K bond threshold); disclosure status rests on law-firm surveys and searches showing no enacted bill.","page_url":"/states/rhode-island/"},{"code":"SC","name":"South Carolina","verifiedOn":"2026-11-12","summary":"South Carolina has no commercial financing disclosure law in effect; S.347, which would cover factoring, has sat in a Senate committee since February 2025. UCC-1s are filed with the Secretary of State, and the payer base is Upstate auto and tire makers, Lowcountry aerospace and auto plants, the ports and a large set of military and Department of Energy sites.","economy":{"paragraphs":["South Carolina factoring is driven by manufacturing supply chains and the businesses that serve them. In the Upstate, a deep supplier base feeds the BMW plant near Spartanburg and other auto and tire makers. In the Lowcountry, Boeing's North Charleston operation and the Volvo plant near Ridgeville anchor aerospace and auto supply chains, and the Port of Charleston and the inland port at Greer move their freight. Federal payers are a second engine: Fort Jackson, Shaw Air Force Base, Joint Base Charleston, the Marine Corps installations around Beaufort and the Department of Energy's Savannah River Site near Aiken. Hospital systems and state agencies round out the list.","These customers tend to pay reliably and slowly. Auto and tire suppliers commonly bill tier-one suppliers and OEMs on net 45 to net 90, and aerospace vendors can see quality holds stretch payment further. Construction subs work under the Prompt Payment Act's 21-day and 7-day clocks. State agencies generally have 30 work days after acceptance and a proper invoice to send payment vouchers to the Comptroller General."],"metros":["Greenville","Spartanburg","Columbia","Charleston","Myrtle Beach"],"industries":["Automotive and tire manufacturing","Aerospace","Logistics and port services","Government contracting","Staffing","Construction"],"federalInstallations":["Fort Jackson","Shaw Air Force Base","Joint Base Charleston","Marine Corps Air Station Beaufort","Marine Corps Recruit Depot Parris Island","Savannah River Site"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"S.347 (2025-2026), a proposed Commercial Financing Disclosure Act that would expressly cover accounts receivable purchase transactions, was referred to the Senate Labor, Commerce and Industry Committee on February 13, 2025 with no further action shown. A similar 2024 bill (S.1187) died in committee.","sourceUrl":"https://www.scstatehouse.gov/sess126_2025-2026/bills/347.htm","thresholdUsd":null},"ucc":{"office":"South Carolina Secretary of State, UCC Division (Columbia)","searchUrl":"https://ucconline.sc.gov/UCCFiling/UCCMainPage.aspx","notes":"Filings and searches can be done online; fixture filings and certain real-estate-related collateral are filed at the county level instead."},"publicPromptPay":{"statute":"S.C. Code §11-35-45","days":"Payment vouchers must reach the Comptroller General within 30 work days of acceptance of the goods or services and a proper invoice","interest":"Up to 15% a year on the unpaid balance after the 30th work day, unless the vendor waives it","notes":"Lump-sum higher education institutions pay directly and owe the penalty only if the vendor's invoice states it applies. On public construction, the Prompt Payment Act's definition of owner includes state and local government entities.","sourceUrl":"https://www.scstatehouse.gov/code/t11c035.php"},"privatePromptPay":{"statute":"S.C. Code §§29-6-10 to 29-6-50 (Prompt Payment Act)","ownerToContractor":"Undisputed amount of a pay request within 21 days of receipt","contractorToSub":"Within 7 days of receiving each periodic or final payment","interest":"1% per month from the due date, but only if the payer was notified of the statute when payment was requested","notes":"On private projects only, the parties can set different rates and periods if the contract waives §§29-6-30 and 29-6-50 by section number in conspicuous bold or underlined type.","sourceUrl":"https://www.scstatehouse.gov/code/t29c006.php"},"lien":{"statute":"S.C. Code §29-5-10 et seq.","preliminaryNotice":"Not generally required to preserve a lien, but if the owner or contractor files a Notice of Project Commencement, sub-subcontractors and suppliers to subs who do not send a notice of furnishing by certified mail have their lien capped at what is owed to the sub above them.","claimDeadline":"Generally serve the owner and file a sworn statement of lien within 90 days after last furnishing","enforceDeadline":"Generally start suit and file a notice of pending action within 6 months after last furnishing","sourceUrl":"https://www.levelset.com/mechanics-lien/south-carolina-lien-law-faqs/"},"publicBond":{"statute":"S.C. Code §11-35-3030","threshold":"Payment bonds are required on state construction contracts; the governmental body may waive them for contracts of $50,000 or less","claimNotice":"Remote claimants (no direct contract with the bonded contractor) must give written notice to the contractor within 90 days of last furnishing; suit within 1 year of last furnishing","sourceUrl":"https://www.scstatehouse.gov/code/t11c035.php"},"other":["S.347 is not law, but its text would treat accounts receivable purchase transactions as commercial financing that needs a disclosure, so a future version of the bill could reach factoring directly.","Prompt Payment Act interest runs only if you cited the statute when you requested payment, so put a line about it on every pay request."],"faqs":[{"q":"Is invoice factoring legal in South Carolina?","a":"Yes. Factoring is a sale of receivables governed by South Carolina's version of UCC Article 9. The funder files a UCC-1 with the Secretary of State and notifies your customers to pay it. Upstate auto suppliers, Lowcountry aerospace vendors, government contractors and construction subs all use it, commonly with advances of 70% to 90% of invoice value."},{"q":"Does South Carolina require a disclosure for factoring deals?","a":"No. As of November 2026 South Carolina has no commercial financing disclosure statute. S.347, which would require disclosures and would cover accounts receivable purchases, has sat in a Senate committee since February 2025. Until it passes, the comparison work is yours: get total dollar cost, every fee and the exit terms from each funder in writing."},{"q":"Where do I search for UCC liens in South Carolina?","a":"Search the South Carolina Secretary of State's UCC index, which can be done online. It covers financing statements on business collateral such as receivables. Fixture filings are recorded at the county level. Search your exact legal name and list every lender with a lien on accounts before you apply."},{"q":"How long do I have to file a mechanic's lien in South Carolina?","a":"Generally, you must serve the owner and file a sworn statement of lien within 90 days after your last furnishing of labor or materials. Suit and a notice of pending action must generally be filed within 6 months of that last furnishing. Confirm deadlines for your job with construction counsel."}],"sources":[{"label":"South Carolina Secretary of State, UCC file and search online","url":"https://sos.sc.gov/online-filings/uniform-commercial-code/ucc-file-and-search-online"},{"label":"South Carolina Code Title 29 Chapter 6, Prompt Payment Act","url":"https://www.scstatehouse.gov/code/t29c006.php"},{"label":"South Carolina Code Title 11 Chapter 35, Procurement Code (§§11-35-45, 11-35-3030)","url":"https://www.scstatehouse.gov/code/t11c035.php"},{"label":"South Carolina General Assembly, S.347 (2025-2026)","url":"https://www.scstatehouse.gov/sess126_2025-2026/bills/347.htm"},{"label":"Levelset, South Carolina lien law FAQs","url":"https://www.levelset.com/mechanics-lien/south-carolina-lien-law-faqs/"},{"label":"Levelset, South Carolina bond claim FAQs","url":"https://www.levelset.com/bond-claim/south-carolina-bond-claim-faqs"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high: prompt pay, state agency payment and bond rules checked against the official S.C. Code; lien deadlines via Levelset quoting the statute; consistent with the site's South Carolina page, with no corrections needed (this file adds the bond waiver threshold and the notice of furnishing rule).","page_url":"/southeast/south-carolina/"},{"code":"SD","name":"South Dakota","verifiedOn":"2026-11-12","summary":"South Dakota has no commercial financing disclosure law, so factoring offers here carry no state-mandated cost disclosure. UCC-1s are filed with the Secretary of State (online searching needs a prepaid account), and the payer base is agriculture and food processing, health systems, the Sioux Falls financial sector and Ellsworth Air Force Base.","economy":{"paragraphs":["South Dakota's B2B receivables come from agriculture, health care and a growing defense footprint. Corn, soybean and cattle production feed ethanol plants, grain elevators and meat processors, including a large pork plant in Sioux Falls, and those buyers pay truckers, equipment dealers and ag service firms. Sioux Falls is also a regional hub for health care, led by Sanford Health and Avera Health, and for card-issuing banks and financial services that buy staffing, IT and facilities work. In the west, Ellsworth Air Force Base near Rapid City is the first home of the B-21 Raider bomber, which has brought large construction and services contracts.","Agricultural receivables are seasonal, with harvest and cattle-marketing peaks in the fall and long waits for some processors and co-ops. Black Hills tourism, including Mount Rushmore and the Sturgis motorcycle rally, concentrates hospitality billing in the summer. Construction around Ellsworth and Sioux Falls growth often runs on 30 to 60 day pay cycles, and public agencies must pay within 45 days or owe 10% a year interest."],"metros":["Sioux Falls","Rapid City","Aberdeen","Brookings","Watertown"],"industries":["Agriculture and food processing","Ethanol and renewable fuels","Healthcare services","Financial services","Trucking and logistics","Construction"],"federalInstallations":["Ellsworth Air Force Base","Joe Foss Field Air National Guard Base"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No South Dakota commercial financing disclosure statute or pending bill was found as of November 2026, and law-firm surveys of enacted state laws do not list South Dakota.","sourceUrl":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws","thresholdUsd":null},"ucc":{"office":"South Dakota Secretary of State, UCC Division (Pierre)","searchUrl":"https://sosenterprise.sd.gov/ucc/","notes":"Online UCC searching requires a prepaid account; others submit a UCC2 certified search request to the office, and fixture filings are recorded with the county register of deeds."},"publicPromptPay":{"statute":"SDCL 5-26-1 to 5-26-8","days":"By the contract date, or within 45 days after receipt and written acceptance of the goods or services when the contract sets no date","interest":"Proper invoices unpaid after 45 days accrue interest from the 30th day after receipt at the Category B rate of 10% a year (SDCL 54-3-16), or the contract rate","notes":"The act covers state agencies, counties, municipalities and school districts. A business paid by an agency must pay its subs and suppliers within 30 days, with Category B interest on late amounts unless the contract says otherwise. No interest is due if it is under $5.","sourceUrl":"https://sdlegislature.gov/api/Statutes/5-26.html?all=true"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"South Dakota has no prompt payment statute for private construction; payment timing and interest are set by the contract.","sourceUrl":"https://www.levelset.com/prompt-payment/south-dakota-prompt-payment-law/"},"lien":{"statute":"SDCL 44-9-1 et seq.","preliminaryNotice":"Only when a Notice of Project Commencement has been filed and posted: subcontractors and suppliers to subs must send a notice of furnishing to the named contractor (copy to the owner) by certified mail no later than 60 days after last furnishing (SDCL 44-9-53). The claimant must also mail a copy of the lien statement to the owner before filing.","claimDeadline":"Generally within 120 days after the claimant's last furnishing","enforceDeadline":"Generally within 6 years after the last item of the claim, but within 30 days if the owner or contractor serves a written demand to sue","sourceUrl":"https://sdlegislature.gov/api/Statutes/44-9.html?all=true"},"publicBond":{"statute":"SDCL 5-21-1 et seq.","threshold":"Public improvement contracts generally, with surety at least equal to the contract price; may be waived when the bid does not exceed the competitive bid limit in SDCL 5-18A-14","claimNotice":"No pre-suit notice deadline in the statute; a supplier's suit on the bond generally cannot start until 6 months after complete performance and must start within 1 year after that","sourceUrl":"https://sdlegislature.gov/api/Statutes/5-21.html?all=true"},"other":["A South Dakota owner can shorten a lien claimant's 6-year enforcement window to 30 days by serving a written demand to sue, so construction funders track lien filings closely here.","Public agency late-payment interest is tied to the Category B rate of 10% a year, not a monthly percentage."],"faqs":[{"q":"Is invoice factoring legal in South Dakota?","a":"Yes. Factoring is a sale of accounts receivable governed by South Dakota's version of UCC Article 9. The funder files a UCC-1 with the Secretary of State and notifies your customers to pay it. South Dakota has no commercial financing disclosure law, so the written factoring agreement defines your fees, recourse and termination terms."},{"q":"Does South Dakota require a disclosure for factoring deals?","a":"No. As of November 2026 South Dakota has not enacted a commercial financing disclosure law, and no pending bill was found. A factoring offer here does not need a standardized cost disclosure, so ask each funder for the advance rate, every fee, the total dollar cost at your volume and the exit terms in writing."},{"q":"Where do I search for UCC liens in South Dakota?","a":"UCC financing statements are filed with the South Dakota Secretary of State in Pierre. Online searching runs through the office's UCC system and requires a prepaid account; without one, you can send a UCC2 certified search request. Fixture filings tied to real estate are recorded with the county register of deeds."},{"q":"Can I factor invoices from work at Ellsworth Air Force Base?","a":"Generally, yes. If you are a subcontractor on B-21 construction or base services, your invoices are factored like any commercial receivable and priced on the prime contractor's credit. If you hold a federal prime contract, the receivable is assigned to the funder under the federal Assignment of Claims Act, which requires notice to the contracting officer."}],"sources":[{"label":"South Dakota Secretary of State, UCC services","url":"https://sosenterprise.sd.gov/ucc/"},{"label":"South Dakota Secretary of State, Uniform Commercial Code","url":"https://sdsos.gov/business-services/uniform-commercial-code/default.aspx"},{"label":"SDCL chapter 5-26, prompt payment","url":"https://sdlegislature.gov/api/Statutes/5-26.html?all=true"},{"label":"SDCL 54-3-16, Category B interest rate","url":"https://sdlegislature.gov/api/Statutes/54-3-16.html?all=true"},{"label":"SDCL chapter 44-9, mechanics liens","url":"https://sdlegislature.gov/api/Statutes/44-9.html?all=true"},{"label":"SDCL chapter 5-21, public improvement bonds","url":"https://sdlegislature.gov/api/Statutes/5-21.html?all=true"},{"label":"Levelset, South Dakota prompt payment requirements","url":"https://www.levelset.com/prompt-payment/south-dakota-prompt-payment-law/"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high: payment, lien and bond rules checked against the official SDCL (which corrected Levelset's 1.5% per month interest figure to the 10% a year Category B rate); medium on the bond waiver dollar limit, since the SDCL 5-18A-14 figure was not confirmed.","page_url":"/states/south-dakota/"},{"code":"TN","name":"Tennessee","verifiedOn":"2026-11-12","summary":"Tennessee has no commercial financing disclosure law, so factoring terms are set by contract and the factor perfects with a UCC-1 at the Tennessee Secretary of State. What sets Tennessee apart is construction paperwork: remote contractors must serve a monthly notice of nonpayment to keep lien rights, and retainage is capped at 5%.","economy":{"paragraphs":["Tennessee has three distinct receivables markets. Memphis is a freight and distribution hub built around the FedEx World Hub and the Mississippi River, with 3PLs, warehouse operators and shippers buying staffing and services. Middle Tennessee mixes auto manufacturing (Nissan in Smyrna, GM in Spring Hill), healthcare management companies and a long Nashville construction cycle. East Tennessee runs on federal science and energy work at Oak Ridge National Laboratory and Y-12, the Tennessee Valley Authority, Volkswagen in Chattanooga and manufacturing in the Tri-Cities. Fort Campbell and Arnold Air Force Base add defense contractors.","Auto OEMs and tier suppliers commonly pay on net 45 to net 90 terms, and quality or PPAP holds can stall invoices further. Construction subs wait on pay applications and retainage, which can only be released after completion. State agencies generally have 45 days to pay a proper invoice. Federal prime and subcontract work at Oak Ridge and TVA is billed on milestones, so contractors often carry payroll for weeks before the first payment arrives."],"metros":["Nashville","Memphis","Knoxville","Chattanooga","Tri-Cities"],"industries":["Automotive manufacturing and suppliers","Logistics and distribution","Healthcare services","Construction","Federal science and energy contracting","Staffing"],"federalInstallations":["Fort Campbell","Arnold Air Force Base","Oak Ridge National Laboratory","Y-12 National Security Complex","Naval Support Activity Mid-South"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Tennessee has no commercial financing disclosure law as of November 2026, and no 2025 or 2026 bill enacting one was found. Tennessee's 2025 and 2026 finance bills addressed litigation financing and UCC filings by public officials, not factoring disclosures.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Tennessee Secretary of State, Division of Business and Charitable Organizations (UCC section)","searchUrl":"https://tnbear.tn.gov/UCC/Ecommerce/UCCSearch.aspx","notes":"Search by exact debtor name or UCC document number; the system does not offer fuzzy name matching, so search each name variation."},"publicPromptPay":{"statute":"Tenn. Code Ann. §12-4-701 to -707 (Prompt Pay Act of 1985)","days":"45 days after receipt of the invoice, unless the contract sets another date","interest":"1.5% per month starting the day after payment is due; interest unpaid after 60 days is added to principal","notes":"Covers state and local agency purchases of goods and services, not just construction. On public construction, the prime generally must pay subs and suppliers within 30 days after it is paid. Good-faith disputes are excluded.","sourceUrl":"https://www.levelset.com/prompt-payment/tennessee-prompt-payment-faqs/"},"privatePromptPay":{"statute":"Tenn. Code Ann. §66-34-101 et seq. (Prompt Pay Act of 1991)","ownerToContractor":"30 days after a timely payment application (§66-34-202)","contractorToSub":"30 days after the sub's timely payment application (§66-34-302); retainage passed down within 10 days after the prime receives it","interest":"Contract rate, or 1.5% per month if none (§66-34-601)","notes":"Retainage is capped at 5% of the contract amount, must be released within 90 days after completion or substantial completion, and on prime contracts of $500K or more must sit in a separate interest-bearing escrow account.","sourceUrl":"https://www.levelset.com/prompt-payment/tennessee-prompt-payment-faqs/"},"lien":{"statute":"Tenn. Code Ann. §66-11-101 et seq.","preliminaryNotice":"Prime contractors on residential jobs give a notice to owner before starting. Remote contractors (no direct contract with the owner) generally must serve a notice of nonpayment within 90 days after the last day of each month in which unpaid work or materials were furnished, separately for each month.","claimDeadline":"Generally within 90 days after the improvement is completed or abandoned; within 30 days if a notice of completion is recorded and served","enforceDeadline":"Remote contractors generally must sue within 90 days after recording the lien; parties in direct contract with the owner within 1 year after completion. An owner's written demand can shorten either to 60 days.","sourceUrl":"https://www.levelset.com/mechanics-lien/tennessee-lien-law-faqs/"},"publicBond":{"statute":"Tenn. Code Ann. §12-4-201 to -206","threshold":"Public contracts over $100,000 (bond of at least 25% of the contract price)","claimNotice":"Written notice within 90 days after completion of the public work, by certified mail or personal delivery to the contractor or the awarding official; suit within 6 months after completion or last furnishing","sourceUrl":"https://www.levelset.com/bond-claim/tennessee-bond-claim-faqs/"},"other":["Funders reviewing a Tennessee construction sub usually ask for the monthly notice-of-nonpayment log, because a missed month can cost lien rights on that month's work.","Retainage on private jobs is a contingent receivable until released, so most factors advance only on the earned, billed portion of a pay application."],"faqs":[{"q":"Is invoice factoring legal in Tennessee?","a":"Yes. Factoring is a sale of accounts receivable governed by Article 9 of the Uniform Commercial Code as adopted in Tennessee. The factor perfects its interest with a UCC-1 filed with the Tennessee Secretary of State. It is a commercial transaction, not a consumer loan, and Tennessee has no special licensing law for business factoring."},{"q":"Does Tennessee require a disclosure for factoring deals?","a":"No. As of November 2026 Tennessee has no commercial financing disclosure law, so there is no state-mandated disclosure form or APR estimate for factoring. Your agreement sets the terms. Read it for every fee, the recourse window, the term and the termination notice period, and compare offers in total dollars over a year."},{"q":"Where do I search for UCC liens in Tennessee?","a":"Use the Tennessee Secretary of State's online UCC search, which looks up filings by debtor name or document number. Search your exact legal name and any past names, because the system does not do fuzzy matching. Any bank, SBA lender or MCA provider with a lien on accounts must release or subordinate before a factor can take first position."},{"q":"How fast must a Tennessee state agency pay my invoice?","a":"Under the Prompt Pay Act of 1985, a state or local agency generally must pay within 45 days after receiving a proper invoice unless the contract sets another date. Late amounts generally carry 1.5% per month interest, except where there is a good-faith dispute. That predictable window is one reason funders like Tennessee public receivables."}],"sources":[{"label":"Levelset, Tennessee prompt payment guide and FAQs","url":"https://www.levelset.com/prompt-payment/tennessee-prompt-payment-faqs/"},{"label":"Levelset, Tennessee mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/tennessee-lien-law-faqs/"},{"label":"Levelset, Tennessee bond claim FAQs","url":"https://www.levelset.com/bond-claim/tennessee-bond-claim-faqs/"}],"confidence":"high for prompt pay, lien and bond rules (statute text reproduced by Levelset, consistent with the existing Tennessee page). Medium on the UCC search URL: tnbear.tn.gov refused connections from our network, so it was confirmed only through search results. No disclosure law found in 2025 or 2026 bill searches.","page_url":"/southeast/tennessee/"},{"code":"TX","name":"Texas","verifiedOn":"2026-11-12","summary":"Texas has a commercial financing law, HB 700 (Finance Code chapter 398), but it targets sales-based financing (merchant cash advances), not traditional invoice factoring. UCC-1s are filed online with the Texas Secretary of State, and the state's huge energy, construction and public-sector payer base makes it one of the largest factoring markets in the country.","economy":{"paragraphs":["Texas receivables come from energy, petrochemicals, construction, logistics, healthcare and government. Oilfield service vendors in the Permian Basin and Eagle Ford bill large operators, and Gulf Coast refineries and chemical plants buy maintenance, turnaround and staffing services. The Port of Houston and inland distribution centers in Dallas-Fort Worth create freight-adjacent service invoices. Fort Hood, Fort Bliss and Joint Base San Antonio support defense contractors, and hospital systems in Houston's Texas Medical Center, Dallas and San Antonio buy staffing and facility services. Rapid commercial, data center and public construction keeps subs waiting on pay applications.","Energy customers often pay on net 60 to net 90 terms and route invoices through approval portals, which stretches cash cycles for small vendors. On private construction, owners generally have 35 days to pay after a payment request and contractors 7 days to pay subs. Government entities generally must pay within 30 days. Hurricane season and oil price swings can shift work volume quickly along the Gulf Coast."],"metros":["Houston","Dallas-Fort Worth","San Antonio","Austin","El Paso"],"industries":["Oil and gas services","Petrochemicals and refining","Construction","Logistics and distribution","Healthcare services","Staffing"],"federalInstallations":["Fort Hood","Fort Bliss","Joint Base San Antonio","Naval Air Station Corpus Christi","Red River Army Depot"]},"disclosure":{"status":"in_effect","name":"Commercial sales-based financing law","citation":"Tex. Fin. Code §398.001 et seq.","billOrAct":"HB 700 (2025)","effective":"2025-09-01","threshold":"Disclosures apply to specific offers of less than $1 million (§398.051)","coversFactoring":false,"aprRequired":false,"registration":"Providers and brokers of commercial sales-based financing must register with the Office of Consumer Credit Commissioner; existing businesses by December 31, 2026, renewed by January 31 each year","exemptions":"Banks, credit unions and their affiliates, Farm Credit lenders, real-estate-secured deals, leases, certain $50K+ motor vehicle dealer financing, and seller financing of the provider's own products","enforcement":"Consumer Credit Commissioner, with civil penalties up to $10,000 per violation; the chapter creates no private right of action","notes":"The law covers financing repaid as a percentage of sales or revenue (including fixed payments with a true-up), not a purchase of specific invoices, so ordinary invoice factoring is outside it. It also bars automatic debits unless the provider holds a perfected first-priority security interest, and voids confessions of judgment.","sourceUrl":"https://capitol.texas.gov/tlodocs/89R/billtext/html/HB00700F.htm","thresholdUsd":1000000},"ucc":{"office":"Texas Secretary of State, UCC Section (filings submitted online through SOSDirect / SOSPortal)","searchUrl":"https://webservices.sos.state.tx.us/termsandconditions/tac.html","notes":"Online searches cost $1 each, paid before searching; fixture and as-extracted collateral filings go to the county clerk where the real property is recorded."},"publicPromptPay":{"statute":"Tex. Gov't Code ch. 2251","days":"Overdue on the 31st day after the later of delivery, completion of services or receipt of the invoice; 46 days for political subdivisions whose governing body meets monthly or less often","interest":"1% plus the prime rate published in the Wall Street Journal, set annually","notes":"Applies to state agencies and political subdivisions for goods and services. A vendor must pay its subs within 10 days after receiving payment, and subs pay suppliers on the same 10-day clock.","sourceUrl":"https://www.levelset.com/prompt-payment/texas-prompt-payment-faqs/"},"privatePromptPay":{"statute":"Tex. Prop. Code ch. 28","ownerToContractor":"35 days after the owner receives a written payment request","contractorToSub":"7 days after the contractor receives the owner's payment","interest":"1.5% per month starting the day after payment is due","notes":"The court may award costs and attorney fees found equitable and just.","sourceUrl":"https://www.levelset.com/prompt-payment/texas-prompt-payment-faqs/"},"lien":{"statute":"Tex. Prop. Code ch. 53 (as amended by HB 2237 for original contracts on or after January 1, 2022)","preliminaryNotice":"Subs and suppliers must send notice to the owner and original contractor for each unpaid month: by the 15th day of the 3rd month after the month of furnishing on commercial jobs, or the 2nd month on residential jobs","claimDeadline":"Commercial: lien affidavit by the 15th day of the 4th month after the claimant's last month of furnishing (3rd month on residential)","enforceDeadline":"Generally within 1 year after the last day the claimant could file its lien affidavit, extendable by written agreement but not beyond 2 years after filing","sourceUrl":"https://www.levelset.com/mechanics-lien/texas-lien-law-faqs/"},"publicBond":{"statute":"Tex. Gov't Code ch. 2253","threshold":"Contracts over $25,000 (over $50,000 for municipalities)","claimNotice":"First-tier claimants notify the prime and surety by the 15th day of the 3rd month after each month of unpaid work; second-tier claimants must also notify the prime by the 15th day of the 2nd month; suit no earlier than 61 days after notice and within 1 year after notice is mailed","sourceUrl":"https://www.levelset.com/bond-claim/texas-bond-claim-faqs/"},"other":["HB 700 registration with the Consumer Credit Commissioner is due by December 31, 2026 for sales-based financing (MCA) providers and brokers; a business comparing an MCA with factoring should know only the MCA side is regulated.","Texas lien notices run on a monthly calendar (15th of the 3rd month on commercial jobs), and funders often ask subs for proof the notices went out before advancing on slow pay applications."],"faqs":[{"q":"Is invoice factoring legal in Texas?","a":"Yes. Factoring is a sale of accounts receivable under Article 9 of the Uniform Commercial Code as adopted in Texas. The factor files a UCC-1 with the Texas Secretary of State to perfect its interest. Texas licenses consumer lenders and now registers sales-based financing providers, but a true sale of business invoices is a commercial transaction outside those regimes."},{"q":"Does Texas HB 700 apply to factoring?","a":"Generally no. HB 700 (Finance Code chapter 398, effective September 1, 2025) covers commercial sales-based financing, meaning advances repaid as a percentage of sales or revenue, like merchant cash advances. Providers must register with the Consumer Credit Commissioner by December 31, 2026 and give cost disclosures on offers under $1MM. Purchasing specific invoices is not sales-based financing."},{"q":"Where do I search for UCC liens in Texas?","a":"Search through the Texas Secretary of State's SOSDirect (SOSPortal) system, which charges $1 per search, paid before you run it. Search your exact legal name and any trade names. Fixture filings are recorded with the county clerk instead. Any lender with a blanket lien on accounts must release or subordinate before a factor takes first position."},{"q":"How fast must Texas government entities and contractors pay?","a":"Under Government Code chapter 2251, a payment from a state agency or political subdivision generally becomes overdue on the 31st day after the later of delivery or receipt of the invoice, with interest at prime plus 1%. A vendor must pay its subs within 10 days after it is paid. On private jobs, owners have 35 days and contractors 7 days."}],"sources":[{"label":"Texas Legislature, HB 700 enrolled text (Finance Code chapter 398)","url":"https://capitol.texas.gov/tlodocs/89R/billtext/html/HB00700F.htm"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"},{"label":"Texas Secretary of State, UCC FAQs","url":"https://www.sos.texas.gov/ucc/faqs.shtml"},{"label":"Levelset, Texas prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/texas-prompt-payment-faqs/"},{"label":"Levelset, Texas mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/texas-lien-law-faqs/"},{"label":"Levelset, Texas bond claim FAQs","url":"https://www.levelset.com/bond-claim/texas-bond-claim-faqs/"}],"confidence":"high for HB 700 (read from the enrolled bill text, including the less-than-$1 million disclosure threshold in §398.051) and for the prompt pay, lien and bond deadlines (statute text reproduced by Levelset). Economy facts are general knowledge, not separately sourced.","page_url":"/states/texas/"},{"code":"UT","name":"Utah","verifiedOn":"2026-11-12","summary":"Utah's Commercial Financing Registration and Disclosure Act covers accounts receivable purchases of $1MM or less, so most factors must register with the Utah Department of Financial Institutions and give a cost disclosure before closing (no APR required). UCC-1s go to the Utah Division of Corporations and Commercial Code, and the payer base leans on aerospace, defense, tech and construction.","economy":{"paragraphs":["Utah's receivables come from aerospace and defense, technology, construction, mining and healthcare. Hill Air Force Base near Ogden is one of the state's largest employers and anchors a network of maintenance, engineering and manufacturing contractors, with Northrop Grumman and other defense primes nearby. The Silicon Slopes corridor between Lehi and Provo buys software, staffing and facility services. Intermountain Health and University of Utah Health purchase staffing and medical services, Kennecott's copper operations buy industrial services, and fast population growth keeps commercial and public construction busy across the Wasatch Front and St. George.","Defense subcontractors often wait on prime approval chains before a first invoice is paid, and federal receivables require Assignment of Claims Act paperwork. On public projects, progress payments are due within 60 days of a request when the contract is silent. Construction slows in the mountain winter, so subs carry heavier receivables in spring and fall, and preliminary notices must be on file in the State Construction Registry within 20 days of starting work."],"metros":["Salt Lake City","Provo-Orem","Ogden","St. George","Logan"],"industries":["Aerospace and defense","Software and technology services","Construction","Healthcare services","Mining","Staffing"],"federalInstallations":["Hill Air Force Base","Dugway Proving Ground","Tooele Army Depot"]},"disclosure":{"status":"in_effect","name":"Commercial Financing Registration and Disclosure Act","citation":"Utah Code §7-27-101 et seq.","billOrAct":"SB 183 (2022)","effective":"2023-01-01","threshold":"Commercial financing transactions of $1,000,000 or less","coversFactoring":true,"aprRequired":false,"registration":"Providers must register with the Utah Department of Financial Institutions through NMLS and renew annually (registrations expire December 31)","exemptions":"Depository institutions and their regulated subsidiaries, Farm Credit lenders, licensed money transmitters, providers with 5 or fewer transactions in Utah in 12 months, real-estate-secured deals, leases, purchase-money obligations and deals over $1,000,000","enforcement":"Department of Financial Institutions, with civil penalties of $500 per violation (up to $20,000 per set of documents, higher for repeat violations); no private right of action, and a violation does not void the agreement","notes":"Required disclosures are the total funds provided and disbursed, total amount paid back, total dollar cost, payment manner and amounts, and any prepayment costs or discounts. 'Accounts receivable purchase transaction' expressly covers selling accounts at a discount, which is factoring.","sourceUrl":"https://dfi.utah.gov/non-depository/commercial-financing/","thresholdUsd":1000000},"ucc":{"office":"Utah Department of Commerce, Division of Corporations and Commercial Code","searchUrl":"https://ucc.utah.gov/","notes":"Certified searches are ordered with Form UCC-11; check the Division's fee schedule for current search charges."},"publicPromptPay":{"statute":"Utah Code §15-6-1 et seq. (Prompt Payment Act)","days":"On the date set by contract, or within 60 days after a complete invoice if no date is set","interest":"IRS refund rate plus 2% to the prime; 15.5% per year to subs and suppliers not paid within 45 days after the prime receives agency payment","notes":"Does not apply to contracts funded with federal money or good-faith disputes. On public construction, Utah Code §13-8-5 also caps retainage at 5% and requires release within 45 days after final acceptance.","sourceUrl":"https://www.levelset.com/prompt-payment/utah-prompt-payment-faqs/"},"privatePromptPay":{"statute":"Utah Code §58-55-603 and §13-8-5","ownerToContractor":"Progress payments per contract; final payment and retention within 45 days after the later of the final payment request or certificate of occupancy","contractorToSub":"Progress payments within 30 days after the contractor is paid; retention within 10 days","interest":"1% per month on late payments; an added 2% per month for knowing, wrongful withholding of retention","notes":"Retention is capped at 5% of each payment and of the total contract price, and the prevailing party in a retention action recovers attorney fees.","sourceUrl":"https://www.levelset.com/prompt-payment/utah-prompt-payment-faqs/"},"lien":{"statute":"Utah Code §38-1a-101 et seq.","preliminaryNotice":"Required for claimants: file a preliminary notice in the State Construction Registry within 20 days after first furnishing (§38-1a-501); a late notice protects only work from 5 days before it was filed","claimDeadline":"Within 90 days after a notice of completion is filed, or within 180 days after final completion of the original contract if none is filed","enforceDeadline":"Suit within 180 days after the notice of lien is recorded, plus a lis pendens recorded with the county recorder","sourceUrl":"https://www.levelset.com/mechanics-lien/utah-lien-law-faqs/"},"publicBond":{"statute":"Utah Code §63G-6a-1103","threshold":"No dollar threshold: construction contracts awarded under the Procurement Code require a 100% payment bond, subject to waiver by rule","claimNotice":"No formal notice is required by the bond statute; a claimant unpaid 90 days after its last furnishing may sue, and suit is barred after 1 year from last furnishing","sourceUrl":"https://le.utah.gov/xcode/Title63G/Chapter6A/C63G-6a-S1103_2026050620260506.html"},"other":["Utah's disclosure law reaches factoring directly: a factor doing more than 5 deals a year with Utah businesses must be registered with DFI and give the statutory disclosure before closing any deal of $1MM or less.","Utah's State Construction Registry is the central place for preliminary notices and notices of completion, so funders can check a sub's lien position online."],"faqs":[{"q":"Is invoice factoring legal in Utah?","a":"Yes. Factoring is a sale of accounts receivable under Article 9 of the Uniform Commercial Code as adopted in Utah, perfected by a UCC-1 filed with the Division of Corporations and Commercial Code. Utah does regulate providers, though: most factors that fund Utah businesses must be registered with the Department of Financial Institutions under the Commercial Financing Registration and Disclosure Act."},{"q":"Does Utah require a disclosure for factoring deals?","a":"Yes, for deals of $1MM or less. Since January 1, 2023, a provider must disclose the total funds provided and disbursed, the total amount to be paid, the total dollar cost, the payment terms and any prepayment costs before closing. Utah does not require an APR. Banks, providers with 5 or fewer Utah deals a year and deals over $1MM are exempt."},{"q":"Where do I search for UCC liens in Utah?","a":"Use the Utah Division of Corporations and Commercial Code's UCC/CFS search at ucc.utah.gov, searching by debtor name. Certified searches are ordered with Form UCC-11. Search your exact legal name and past names, and line up releases or subordinations from any lender whose lien covers accounts before you close a factoring facility."},{"q":"How do Utah construction subs protect a receivable a factor will buy?","a":"File a preliminary notice in the State Construction Registry within 20 days after you start work. A lien then generally must be recorded within 90 days after a notice of completion (or 180 days after completion if none is filed). Funders check the registry, and a missing notice usually means a lower advance on that job."}],"sources":[{"label":"Utah DFI, Commercial Financing","url":"https://dfi.utah.gov/non-depository/commercial-financing/"},{"label":"Utah Code §7-27-101, definitions","url":"https://le.utah.gov/xcode/Title7/Chapter27/C7-27-S101_2024050120240501.html"},{"label":"Utah Code §7-27-102, application and exemptions","url":"https://le.utah.gov/xcode/Title7/Chapter27/C7-27-S102_2022050420220504.html"},{"label":"Utah Code §7-27-202, disclosures","url":"https://le.utah.gov/xcode/Title7/Chapter27/C7-27-S202_2024050120240501.html"},{"label":"Utah Code §7-27-301, penalties","url":"https://le.utah.gov/xcode/Title7/Chapter27/C7-27-S301_2022050420220504.html"},{"label":"Utah Code §63G-6a-1103, payment bonds","url":"https://le.utah.gov/xcode/Title63G/Chapter6A/C63G-6a-S1103_2026050620260506.html"},{"label":"Utah Division of Corporations, searches","url":"https://commerce.utah.gov/corporations/searches"},{"label":"Levelset, Utah prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/utah-prompt-payment-faqs/"},{"label":"Levelset, Utah mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/utah-lien-law-faqs/"}],"confidence":"high for the disclosure law (read from current Utah Code text) and the bond statute; medium-high for prompt pay and lien deadlines (Levelset summaries of statute). Utah UCC search fees were not verified.","page_url":"/states/utah/"},{"code":"VT","name":"Vermont","verifiedOn":"2026-11-12","summary":"Vermont enacted a commercial financing law in 2026 (Act 142, 8 V.S.A. §2247) that takes effect July 1, 2027 and expressly covers factoring: providers will need a Vermont lender license and must give a signed disclosure with an estimated APR on deals under $1MM. Until then there is no disclosure rule, UCC-1s go to the Vermont Secretary of State, and the payer base is small but steady.","economy":{"paragraphs":["Vermont is a small market whose receivables come from manufacturing, healthcare, food and agriculture, tourism and public construction. GlobalFoundries' semiconductor plant in Essex Junction buys equipment, maintenance and staffing services, and the University of Vermont Health Network is the state's largest private employer. Specialty food makers, dairy processors and maple producers sell to regional grocers and distributors. Ski resorts and hospitality businesses buy contracted services, and the Vermont Air National Guard's F-35 wing at Burlington and state agencies add government receivables, including Agency of Transportation highway and bridge work.","Seasonality shapes cash flow. Construction compresses into the warmer months, ski areas bill and buy heavily in winter, and maple and dairy follow agricultural cycles. Vermont's prompt pay act gives owners, including the State, 20 days after the billing period or invoice to pay contractors, and contractors 7 days to pay subs. Distributors and grocers commonly pay food producers on net 30 terms."],"metros":["Burlington","Rutland","Montpelier-Barre","Brattleboro","St. Albans"],"industries":["Semiconductor and precision manufacturing","Healthcare services","Food and dairy processing","Tourism and hospitality","Construction"],"federalInstallations":["Vermont Air National Guard Base (Burlington)","Camp Ethan Allen Training Site"]},"disclosure":{"status":"enacted_not_yet_effective","name":"Commercial financing licensing and disclosure law","citation":"8 V.S.A. §2247","billOrAct":"H.648, Act 142 (2026)","effective":"2027-07-01","threshold":"Transactions under $1,000,000 (deals of $1MM or more that are not for personal use are excluded)","coversFactoring":true,"aprRequired":true,"registration":"Providers must hold a Vermont lender license under the Licensed Lenders chapter (8 V.S.A. ch. 73); anyone soliciting or presenting offers for a third party needs a loan solicitation license","exemptions":"State and federal agencies, depository and other financial institutions under 8 V.S.A. §11101(32), sellers financing their own goods or services, and deals of $1MM or more","enforcement":"Commissioner of Financial Regulation, who may adopt rules and prescribe the disclosure format; a private right of action was not confirmed","notes":"For factoring, the provider must disclose the purchase price, amount disbursed, finance charge (including the discount), an estimated APR under Regulation Z Appendix J, total payment amount, avoidable fees and the receivables purchased, and get the recipient's signature before closing. Applies to contracts entered into, modified or restructured on or after July 1, 2027.","sourceUrl":"https://legislature.vermont.gov/Documents/2026/Docs/ACTS/ACT142/ACT142%20As%20Enacted.pdf","thresholdUsd":1000000},"ucc":{"office":"Vermont Secretary of State, Business Services Division","searchUrl":"https://bizfilings.vermont.gov/uccsearch","notes":"Certified searches are requested with a UCC-11 information request."},"publicPromptPay":{"statute":"9 V.S.A. §4001 to §4009 (prompt pay for construction contracts; 'owner' includes the State, municipalities and school districts)","days":"20 days after the end of the billing period or delivery of the invoice, whichever is later","interest":"12% per year (rate under 12 V.S.A. §2903), starting on the 21st day; an added 1% per month for wrongful withholding","notes":"This act covers public and private construction alike. No general statute setting a payment deadline for state purchases of non-construction goods and services was found.","sourceUrl":"https://legislature.vermont.gov/statutes/section/09/102/04002"},"privatePromptPay":{"statute":"9 V.S.A. §4001 to §4009","ownerToContractor":"20 days after the end of the billing period or delivery of the invoice, whichever is later","contractorToSub":"7 days after receipt of each progress or final payment, or after the sub's invoice, whichever is later","interest":"12% per year; an added 1% per month on sums wrongfully withheld","notes":"Retainage is due within 30 days after final acceptance and must be passed to subs within 7 days after the contractor receives it. The substantially prevailing party recovers attorney fees.","sourceUrl":"https://www.levelset.com/prompt-payment/vermont-prompt-payment-faqs/"},"lien":{"statute":"9 V.S.A. §1921 et seq.","preliminaryNotice":"Subs and suppliers without a direct contract with the owner claim a lien by giving written notice to the owner, and the lien reaches only the contract balance unpaid when that notice is received","claimDeadline":"Lien notice filed with the town clerk within 180 days after payment for the last labor or materials became due","enforceDeadline":"Suit commenced and the property attached within 180 days after filing (or after payment becomes due, if later)","sourceUrl":"https://legislature.vermont.gov/statutes/section/09/051/01921"},"publicBond":{"statute":"19 V.S.A. §10(9) (Agency of Transportation projects)","threshold":"Payment bond required on Agency of Transportation construction contracts; may be waived for contracts of $250,000 or less","claimNotice":"Sworn claim filed with the Secretary of Transportation within 90 days after the State's final acceptance of the project; petition in Superior Court within 1 year after filing the claim","sourceUrl":"https://legislature.vermont.gov/statutes/section/19/001/00010"},"other":["From July 1, 2027, factoring Vermont businesses on deals under $1MM requires a Vermont lender license and a signed disclosure with an estimated APR, so expect paperwork and possibly pricing changes on renewals after that date.","Vermont is an unpaid-balance lien state: a sub's lien reaches only what the owner still owes the general contractor when the sub's notice arrives, which makes early notice important for collateral value."],"faqs":[{"q":"Is invoice factoring legal in Vermont?","a":"Yes. Factoring is a sale of accounts receivable under Article 9 of the Uniform Commercial Code as adopted in Vermont, perfected with a UCC-1 filed with the Vermont Secretary of State. Starting July 1, 2027, though, providers factoring for Vermont businesses on deals under $1MM must hold a Vermont lender license from the Department of Financial Regulation."},{"q":"Does Vermont require a disclosure for factoring deals?","a":"Not yet. Act 142 (2026) adds 8 V.S.A. §2247, effective July 1, 2027. From then, a factor must give a signed disclosure showing the purchase price, amount disbursed, finance charge including the discount, an estimated APR, the total payment amount and fees, before closing a deal under $1MM. It also applies to deals modified or renewed after that date."},{"q":"Where do I search for UCC liens in Vermont?","a":"Use the Vermont Secretary of State's online UCC search at bizfilings.vermont.gov, which searches by debtor name or document number. Certified searches are requested with a UCC-11 form. Search your exact legal name and any prior names, and arrange releases or subordinations from lenders with liens on accounts before you close."},{"q":"How fast must Vermont owners pay contractors and subs?","a":"Under Vermont's prompt pay act, an owner, including the State and municipalities, generally must pay within 20 days after the end of the billing period or delivery of the invoice, whichever is later, and a contractor must pay subs within 7 days after it is paid. Late amounts carry 12% per year interest."}],"sources":[{"label":"Vermont Legislature, H.648 bill status (Act 142)","url":"https://legislature.vermont.gov/bill/status/2026/H.648"},{"label":"Vermont Act 142 (2026), as enacted","url":"https://legislature.vermont.gov/Documents/2026/Docs/ACTS/ACT142/ACT142%20As%20Enacted.pdf"},{"label":"Husch Blackwell, Vermont folds sales-based financing and factoring into its licensing regime","url":"https://www.huschblackwell.com/newsandinsights/vermont-folds-sales-based-financing-and-factoring-into-its-licensing-regime"},{"label":"Vermont Statutes, 9 V.S.A. §1921","url":"https://legislature.vermont.gov/statutes/section/09/051/01921"},{"label":"Vermont Statutes, 9 V.S.A. §1924","url":"https://legislature.vermont.gov/statutes/section/09/051/01924"},{"label":"Vermont Statutes, 9 V.S.A. §4002","url":"https://legislature.vermont.gov/statutes/section/09/102/04002"},{"label":"Vermont Statutes, 19 V.S.A. §10","url":"https://legislature.vermont.gov/statutes/section/19/001/00010"},{"label":"Levelset, Vermont prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/vermont-prompt-payment-faqs/"},{"label":"Levelset, Vermont mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/vermont-lien-law-faqs/"},{"label":"Vermont Secretary of State, UCC liens","url":"https://sos.vermont.gov/business-services/ucc-liens"}],"confidence":"high for Act 142 (read from the enacted act text), lien and bond deadlines (official statutes). Medium on enforcement: the act text reviewed names the Commissioner's rulemaking power but we did not confirm whether a private right of action exists. No Vermont statute setting a payment deadline for non-construction state invoices was found. Note Levelset lists a $100,000 bond waiver figure; the current statute says $250,000.","page_url":"/states/vermont/"},{"code":"VA","name":"Virginia","verifiedOn":"2026-11-12","summary":"Virginia's commercial financing disclosure law (Va. Code §6.2-2228 et seq.) covers sales-based financing of $500K or less, not traditional invoice factoring, and requires those providers to register with the State Corporation Commission. UCC-1s are filed online with the SCC Clerk's Office, and the payer base is dominated by federal agencies, defense primes and shipbuilding.","economy":{"paragraphs":["Virginia is one of the largest federal contracting markets in the country. Northern Virginia's government services firms bill the Pentagon, intelligence agencies and civilian departments, often as subcontractors to large primes. Hampton Roads runs on the Navy: Naval Station Norfolk, Norfolk Naval Shipyard and Newport News Shipbuilding buy machining, marine services, staffing and engineering. The Port of Virginia and its distribution centers create logistics receivables, and the data center build-out in Loudoun and Prince William counties keeps electrical, mechanical and construction subs busy. Richmond adds healthcare systems, state agencies and corporate headquarters.","Federal subcontractors often wait 45 to 60 days or more as invoices pass through the prime, and factoring federal receivables requires Assignment of Claims Act steps. State agencies generally must pay within 30 days after a proper invoice. On private construction, owners have 60 days to pay contractors, and contractors must pay subs within 7 days after being paid. Data center and shipyard work runs on long contracts with retainage."],"metros":["Northern Virginia","Virginia Beach-Norfolk","Richmond","Roanoke","Charlottesville"],"industries":["Government services and federal contracting","Shipbuilding and ship repair","Data center construction","Logistics and port services","Healthcare services","Staffing"],"federalInstallations":["The Pentagon","Naval Station Norfolk","Norfolk Naval Shipyard","Joint Base Langley-Eustis","Fort Belvoir","Marine Corps Base Quantico"]},"disclosure":{"status":"in_effect","name":"Sales-based financing disclosure and registration law","citation":"Va. Code §6.2-2228 et seq.","billOrAct":"HB 1027 (2022), 2022 Acts ch. 516","effective":"2022-07-01","threshold":"Single sales-based financing transactions of $500,000 or less","coversFactoring":false,"aprRequired":false,"registration":"Sales-based financing providers and brokers register with the State Corporation Commission ($1,000 initial fee, $500 annual fee due September 15)","exemptions":"Financial institutions, transactions over $500,000, and providers or brokers with no more than 5 sales-based financing transactions with a recipient in 12 months","enforcement":"Attorney General may seek injunctions, damages, restitution and fees; noncompliant terms are unenforceable against the recipient; no express private right of action","notes":"The law defines sales-based financing as repayment over time as a percentage of sales or revenue, which describes merchant cash advances; it does not address invoice factoring. Required disclosures include the finance charge and total repayment amount on an SCC form, but not an APR.","sourceUrl":"https://law.lis.virginia.gov/vacodefull/title6.2/chapter22.1/","thresholdUsd":500000},"ucc":{"office":"State Corporation Commission, Clerk's Office (UCC filings accepted online only through the Clerk's Information System)","searchUrl":"https://cis.scc.virginia.gov/","notes":"Paper UCC submissions are returned unprocessed; search CIS by debtor name or file number."},"publicPromptPay":{"statute":"Va. Code §2.2-4347 to §2.2-4356","days":"State agencies: 30 days after receipt of a proper invoice or of the goods or services, whichever is later, unless the contract sets a date. Localities: 45 days if the contract is silent.","interest":"State agencies: the Wall Street Journal prime rate on amounts unpaid more than 7 days after the payment date; localities: up to 1% per month","notes":"Contractors must pay subs within 7 days after being paid or give written notice of withholding; sub interest is 1% per month unless the contract says otherwise. Agencies must flag defective invoices within 15 days (20 for localities).","sourceUrl":"https://www.levelset.com/prompt-payment/virginia-prompt-payment-faqs/"},"privatePromptPay":{"statute":"Va. Code §11-4.6","ownerToContractor":"60 days after receipt of an invoice for satisfactorily completed work; written notice of any withholding within 45 days","contractorToSub":"The earlier of 60 days after the sub's invoice or 7 days after the contractor is paid for that work; withholding notice within 50 days","interest":"Interest penalties as under Va. Code §2.2-4355","notes":"Owner payment is generally not a condition to paying a sub unless the owner is insolvent or in bankruptcy. Flow-down terms apply to non-single-family projects over $500K, and for contracts from July 1, 2026 general contractors share liability for subs' unpaid wages.","sourceUrl":"https://law.lis.virginia.gov/vacode/title11/chapter2/section11-4.6/"},"lien":{"statute":"Va. Code §43-1 et seq.","preliminaryNotice":"Not generally required; on 1 or 2 family residential jobs, notice to the mechanics lien agent named on the building permit within 30 days after first furnishing","claimDeadline":"Memorandum of lien within 90 days after the last day of the month of last furnishing, and no later than 90 days after the structure is completed or work ends; it may include only work from the last 150 days, plus retainage","enforceDeadline":"Suit within 6 months after recording or 60 days after completion or termination of the project, whichever is later","sourceUrl":"https://law.lis.virginia.gov/vacode/title43/chapter1/section43-4/"},"publicBond":{"statute":"Va. Code §2.2-4337 and §2.2-4341","threshold":"Nontransportation construction contracts over $500,000; state-funded transportation projects over $350,000","claimNotice":"Claimants without a contract with the prime must give written notice to the contractor within 90 days after their last labor or materials, by registered or certified mail; suit within 1 year after last furnishing","sourceUrl":"https://www.levelset.com/bond-claim/virginia-bond-claim-faqs/"},"other":["Virginia's 2022 disclosure law reaches sales-based financing (MCA) only; a business comparing an MCA with factoring will get an SCC-format disclosure on the MCA side but not on a factoring offer.","Under Va. Code §11-4.6, a private construction sub generally must be paid by the earlier of 60 days after its invoice or 7 days after the contractor is paid, and owner payment is not a condition unless the owner is insolvent, which shortens many Virginia construction receivables."],"faqs":[{"q":"Is invoice factoring legal in Virginia?","a":"Yes. Factoring is a sale of accounts receivable under Article 9 of the Uniform Commercial Code as adopted in Virginia, perfected with a UCC-1 filed online with the State Corporation Commission Clerk's Office. Virginia regulates sales-based financing providers, but a purchase of specific business invoices is a commercial transaction outside that registration law."},{"q":"Does Virginia require a disclosure for factoring deals?","a":"Generally no. Virginia's 2022 law (Va. Code §6.2-2228 et seq.) requires SCC registration and a cost disclosure for sales-based financing of $500K or less, meaning advances repaid as a percentage of sales or revenue. It does not address traditional invoice factoring, and it does not require an APR. Read any factoring agreement for every fee and the termination terms."},{"q":"Where do I search for UCC liens in Virginia?","a":"Use the State Corporation Commission's Clerk's Information System (CIS) at cis.scc.virginia.gov, which searches UCC and federal tax lien filings by debtor name or file number. Filings are accepted online only. Search your exact legal name, then clear or subordinate any lien on accounts before a factor takes first position."},{"q":"Can I factor invoices from a Virginia federal prime or Navy contract?","a":"Usually yes. Subcontract invoices to large primes are factored like any commercial receivable, with a notice of assignment to the prime. Invoices billed directly to a federal agency require Assignment of Claims Act filings, which add a few weeks at setup. Funders like Hampton Roads and Northern Virginia federal work because the end payer's credit is strong."}],"sources":[{"label":"Code of Virginia, Title 6.2 Chapter 22.1 (sales-based financing)","url":"https://law.lis.virginia.gov/vacodefull/title6.2/chapter22.1/"},{"label":"Code of Virginia §11-4.6 (private construction payment)","url":"https://law.lis.virginia.gov/vacode/title11/chapter2/section11-4.6/"},{"label":"Code of Virginia §43-4 (memorandum of lien)","url":"https://law.lis.virginia.gov/vacode/title43/chapter1/section43-4/"},{"label":"Virginia SCC, Uniform Commercial Code","url":"https://www.scc.virginia.gov/businesses/ucc/"},{"label":"Levelset, Virginia prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/virginia-prompt-payment-faqs/"},{"label":"Levelset, Virginia mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/virginia-lien-law-faqs/"},{"label":"Levelset, Virginia bond claim FAQs","url":"https://www.levelset.com/bond-claim/virginia-bond-claim-faqs/"}],"confidence":"high for the disclosure law, private prompt pay and lien filing rules (official Code of Virginia text). The July 1, 2022 effective date is Virginia's default for 2022 acts and was not separately confirmed; registration was due November 1, 2022. No 2025 or 2026 amendment extending the law to factoring was found. Lien enforcement deadline (§43-17) is from Levelset.","page_url":"/states/virginia/"},{"code":"WA","name":"Washington","verifiedOn":"2026-11-12","summary":"Washington has no commercial financing disclosure law, so factoring terms are set by contract. Unusually, UCC-1s are filed with the Washington Department of Licensing rather than the Secretary of State, and the payer base runs from Boeing and big tech to ports, agriculture and military bases.","economy":{"paragraphs":["Washington's receivables come from aerospace, technology, ports and logistics, agriculture, defense and construction. Boeing's plants in Everett and Renton buy machined parts, tooling and engineering services from a deep supplier base. Microsoft and Amazon generate staffing, facilities and construction invoices around Seattle. The Northwest Seaport Alliance ports of Seattle and Tacoma move containers for distributors and 3PLs. Joint Base Lewis-McChord, Naval Base Kitsap and Fairchild Air Force Base support defense contractors, and the Department of Energy's Hanford site keeps Tri-Cities engineering and environmental firms busy.","Aerospace suppliers commonly wait 60 days or more on large customers and can be hit by production rate changes. Eastern Washington's apple, cherry and wheat harvests create seasonal receivables from packers and shippers. Public agencies generally must pay within 30 days, but private construction has no statutory prompt pay clock, so subs depend on contract terms. Hanford and federal work bill through prime contractors on milestone schedules."],"metros":["Seattle-Tacoma","Spokane","Vancouver","Tri-Cities","Bellingham"],"industries":["Aerospace manufacturing","Technology services","Ports and logistics","Agriculture and food processing","Construction","Defense and federal contracting"],"federalInstallations":["Joint Base Lewis-McChord","Naval Base Kitsap","Naval Station Everett","Naval Air Station Whidbey Island","Fairchild Air Force Base","Hanford Site"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"Washington has no commercial financing disclosure law as of November 2026, and no 2025 or 2026 bill enacting one was found. 2026 bills on litigation financing and unauthorized UCC filings do not regulate factoring disclosures.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Washington State Department of Licensing, UCC section (Olympia)","searchUrl":"https://fortress.wa.gov/dol/ucc/","notes":"UCC filings in Washington go to the Department of Licensing, not the Secretary of State; paper searches use Form UCC-11."},"publicPromptPay":{"statute":"RCW 39.76","days":"30 days after receipt of a properly completed invoice or of the goods or services, whichever is later","interest":"1% per month (minimum $1 per month) on late payments","notes":"A public body withholding payment must give written notice within 8 working days. On public works, primes and subs must pay their subs within 10 days after receiving payment (RCW 39.04.250).","sourceUrl":"https://www.levelset.com/prompt-payment/washington-prompt-payment-faqs/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Washington has no general prompt payment statute for private construction; payment timing and late charges are set by contract.","sourceUrl":"https://www.levelset.com/prompt-payment/washington-prompt-payment-faqs/"},"lien":{"statute":"RCW 60.04","preliminaryNotice":"Suppliers, equipment lessors and subs without a direct contract with the owner generally must give a notice of right to claim a lien; it covers only materials or equipment furnished from 60 days before the notice (10 days on new single-family homes). Contractors on most residential and small commercial jobs must give the model disclosure statement before starting.","claimDeadline":"Record the lien in the county where the property sits within 90 days after the claimant last furnished labor or materials, and send a copy to the owner within 14 days of recording","enforceDeadline":"Suit within 8 months after recording, with the owner served within 90 days of filing","sourceUrl":"https://www.levelset.com/mechanics-lien/washington-lien-law-faqs/"},"publicBond":{"statute":"RCW 39.08","threshold":"Bond required on public works contracts; on contracts of $150,000 or less the contractor may elect to have the agency retain 10% instead","claimNotice":"Suppliers to subs must notify the prime within 10 days after first delivery; claimants file written notice with the public body within 30 days after completion and acceptance of the work. A separate retainage claim under RCW 60.28 is also available.","sourceUrl":"https://www.levelset.com/bond-claim/washington-bond-claim-faqs/"},"other":["UCC filings and searches in Washington run through the Department of Licensing, so a factor's lien search here is not done at the Secretary of State.","On Washington public works, unpaid subs and suppliers can also claim against the retained percentage under RCW 60.28, a second layer of protection funders weigh alongside the bond."],"faqs":[{"q":"Is invoice factoring legal in Washington?","a":"Yes. Factoring is a sale of accounts receivable under Article 9 of the Uniform Commercial Code as adopted in Washington. The factor perfects its interest with a UCC-1 filed with the Washington Department of Licensing. Washington has no special licensing or disclosure law for business factoring, so the contract governs."},{"q":"Does Washington require a disclosure for factoring deals?","a":"No. As of November 2026 Washington has no commercial financing disclosure law, so there is no required disclosure form or APR estimate for factoring or merchant cash advances. Compare offers in total dollars over a year, and read the recourse window, minimum volume, term and termination notice before you sign."},{"q":"Where do I search for UCC liens in Washington?","a":"Use the Washington Department of Licensing's online UCC system, which files and searches records electronically; paper searches use Form UCC-11. Search your exact legal name. Any lender with a blanket lien covering accounts must release or subordinate before a factor can take first position."},{"q":"How fast must Washington public agencies pay, and what about private jobs?","a":"Under RCW 39.76, public agencies generally must pay within 30 days after a proper invoice or delivery, whichever is later, with 1% per month interest on late payments. On public works, contractors must pay subs within 10 days after being paid. Private construction has no statutory deadline, so contract terms control."}],"sources":[{"label":"Levelset, Washington prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/washington-prompt-payment-faqs/"},{"label":"Levelset, Washington mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/washington-lien-law-faqs/"},{"label":"Levelset, Washington bond claim FAQs","url":"https://www.levelset.com/bond-claim/washington-bond-claim-faqs/"},{"label":"Washington Department of Licensing, UCC forms","url":"https://dol.wa.gov/node/2075"},{"label":"Venable, State commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"medium-high: prompt pay, lien and bond rules come from Levelset summaries of RCW text (the prompt pay page is dated 2020), not the official RCW site. No Washington disclosure law was found in 2025 or 2026 searches or in the Venable survey. UCC search fees were not verified.","page_url":"/states/washington/"},{"code":"WV","name":"West Virginia","verifiedOn":"2026-11-12","summary":"West Virginia has no commercial financing disclosure law, so a factoring deal here is governed by the contract and the UCC, with financing statements filed online with the Secretary of State. Its 2025 Prompt Payment Act gives state agencies 45 days to pay vendors but adds no late-payment interest, which matters for businesses that sell to state government.","economy":{"paragraphs":["West Virginia receivables come from energy, chemicals, healthcare and a large federal footprint. Coal and Marcellus and Utica natural gas producers buy trucking, equipment repair, fabrication and oilfield services on account. The Kanawha Valley chemical corridor around Charleston and plants along the Ohio River pay industrial contractors and suppliers. Federal payers include the FBI Criminal Justice Information Services Division in Clarksburg, the NASA Independent Verification and Validation Facility in Fairmont and the Treasury Bureau of the Fiscal Service in Parkersburg, all of which use contractors. Hospital systems are among the largest buyers of staffing and services.","Payment timing depends on who the customer is. State agencies must pay within 45 days of a legitimate claim under the Prompt Payment Act of 2025 (effective July 8, 2025), but the law only requires late agencies to be reported to the State Auditor; it adds no interest. Counties and cities have 60 days and owe interest after that. Private construction has no prompt pay statute, so contract terms control, and subcontractors often wait on the owner's pay cycle."],"metros":["Charleston","Huntington","Morgantown","Parkersburg","Wheeling"],"industries":["Coal mining and mining services","Natural gas production and pipeline services","Chemical manufacturing","Healthcare services","Federal contracting and IT services"],"federalInstallations":["FBI Criminal Justice Information Services Division (Clarksburg)","NASA Independent Verification and Validation Facility (Fairmont)","Bureau of the Fiscal Service (Parkersburg)"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing disclosure law was found in the 2025 or 2026 West Virginia sessions; national trackers as of 2026 do not list the state.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"West Virginia Secretary of State, Business and Licensing Division (UCC Online Services)","searchUrl":"https://apps.wv.gov/sos/ucc/","notes":"Filings and searches are online only (paper filing ended in 2018, except for transmitting utilities and a few amendments); filing costs $20 plus a $3 portal fee, and a search costs $10 plus $1 a page plus a $3 portal fee."},"publicPromptPay":{"statute":"W. Va. Code §12-10-1 to §12-10-3 (Prompt Payment Act of 2025, HB 2152)","days":"45 days after a legitimate uncontested invoice is received, for purchases made on or after July 1, 2025; the receiving agency must process the invoice within 10 business days","interest":"No interest for state agencies; a late agency must report the violation to the State Auditor, a vendor may report it too, and the Auditor publishes a monthly list of late agencies","notes":"Counties (W. Va. Code §7-5-7) and municipalities (§8-13-22d) must pay within 60 days of a legitimate uncontested invoice, with interest at the State Tax Commissioner's rate from day 61, unless unforeseen budget limits prevent payment.","sourceUrl":"https://code.wvlegislature.gov/12-10-3/"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"West Virginia has no prompt payment statute for private construction; payment timing is set by the contract.","sourceUrl":"https://www.levelset.com/prompt-payment/west-virginia-prompt-payment-faqs/"},"lien":{"statute":"W. Va. Code §38-2-1 et seq.","preliminaryNotice":"Not generally required; an optional notice to the owner under §38-2-20 is available","claimDeadline":"Generally within 100 days after the subcontract is completed or after the claimant last furnished materials (§38-2-9, §38-2-10), recorded with the county clerk; claimants without a contract with the owner must also notify the owner within the same 100 days","enforceDeadline":"Suit in circuit court within 6 months after the lien notice is filed (§38-2-34)","sourceUrl":"https://www.levelset.com/mechanics-lien/west-virginia-lien-law-faqs/"},"publicBond":{"statute":"W. Va. Code §38-2-39","threshold":"No dollar threshold in the statute: a bond is required on any contract to build, improve or repair a public building or structure, in a sum at least equal to the reasonable cost of materials, equipment and labor","claimNotice":null,"sourceUrl":"https://code.wvlegislature.gov/38-2-39/"},"other":["The Prompt Payment Act of 2025 covers state agency purchases of goods and services generally, not just construction, but carries no interest penalty, so late state payments do not grow.","Public property cannot be liened in West Virginia; subcontractors and suppliers on public jobs look to the contractor's bond under §38-2-39, and its claim timing is set by the bond terms rather than the statute."],"faqs":[{"q":"Is invoice factoring legal in West Virginia?","a":"Yes. Factoring is a sale of accounts receivable, and West Virginia treats it under its version of UCC Article 9 like other states do. The factor usually files a UCC-1 financing statement with the Secretary of State to perfect its interest. There is no state license or registration specific to commercial factoring, but the contract terms matter, so read the recourse, reserve and fee schedule closely."},{"q":"Does West Virginia require a disclosure for factoring deals?","a":"No. As of November 2026, West Virginia has not passed a commercial financing disclosure law like those in California, New York or Virginia. A factor does not have to give you a state form showing an APR or total cost. You should still ask for the full fee schedule in writing and compare offers on the effective cost per month."},{"q":"Where do I search for UCC liens in West Virginia?","a":"Use the Secretary of State's UCC Online Services at apps.wv.gov/sos/ucc. Since 2018 it is the only way to get a UCC search from the state. A search costs $10, plus $1 a page and a $3 portal fee. Run one on your own business before you factor, since a lender's blanket lien on receivables can block a new factor."},{"q":"How fast does the State of West Virginia pay its vendors?","a":"Under the Prompt Payment Act of 2025, state agencies must pay a legitimate uncontested invoice within 45 days of receipt, for purchases made on or after July 1, 2025. The law has no interest penalty; late agencies are reported to the State Auditor, which posts a monthly list. Counties and cities have 60 days and owe interest after that. Factoring can cover the wait."}],"sources":[{"label":"West Virginia Code §12-10-3, Prompt Payment Act of 2025","url":"https://code.wvlegislature.gov/12-10-3/"},{"label":"Enrolled HB 2152 (2025), West Virginia Legislature","url":"https://www.wvlegislature.gov/Bill_Text_HTML/2025_SESSIONS/RS/bills/hb2152%20sub1%20enr.pdf"},{"label":"West Virginia Code §7-5-7, county payment of invoices","url":"https://code.wvlegislature.gov/7-5-7/"},{"label":"West Virginia Code §38-2-39, public building bonds","url":"https://code.wvlegislature.gov/38-2-39/"},{"label":"West Virginia Secretary of State, UCC filing procedures","url":"https://sos.wv.gov/ucc-filing-procedures"},{"label":"Levelset, West Virginia mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/west-virginia-lien-law-faqs/"},{"label":"Levelset, West Virginia prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/west-virginia-prompt-payment-faqs/"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high for disclosure, UCC, state prompt pay and bond statute (official sources); medium for lien deadlines (Levelset quoting the statute, not checked against the official code); public bond claim notice left null because §38-2-39 sets none and bond forms vary.","page_url":"/states/west-virginia/"},{"code":"WI","name":"Wisconsin","verifiedOn":"2026-11-12","summary":"Wisconsin has no commercial financing disclosure law, and UCC financing statements are filed with the Department of Financial Institutions rather than the Secretary of State. State and local agencies must pay within 30 days or owe 12% a year interest compounded monthly, and prime contractors must pass payment to subcontractors within 7 days.","economy":{"paragraphs":["Wisconsin is a manufacturing state, and most factored invoices come from suppliers to large industrial buyers. Defense is a major payer base: Oshkosh Corporation builds military trucks in Oshkosh, and Fincantieri Marinette Marine builds Navy ships in Marinette, each with a long chain of machine shops, fabricators and logistics firms waiting on payment. Paper, food processing and dairy plants buy packaging, trucking and maintenance on account. Milwaukee has heavy equipment and machinery makers, and hospital systems across the state buy staffing and services. Fort McCoy, the only Army installation in Wisconsin, contracts for construction and support work.","Public payers are governed by strict rules. State agencies (Wis. Stat. §16.528) and local governments (§66.0135) must pay within 30 days of a proper invoice, and a prime contractor paid by a public body must pay its subcontractors within 7 days. Private construction has no prompt pay statute, but money an owner pays a prime or sub is held in trust for unpaid subs and suppliers. That trust rule is worth knowing if you factor a contractor's invoices."],"metros":["Milwaukee","Madison","Green Bay","Appleton","Oshkosh"],"industries":["Industrial machinery and equipment manufacturing","Defense vehicles and shipbuilding","Food processing and dairy","Paper and packaging","Healthcare services"],"federalInstallations":["Fort McCoy"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing disclosure law was found in the 2025 to 2026 Wisconsin session; the lending bills introduced that session (such as SB 759) target consumer loans, not business financing.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Wisconsin Department of Financial Institutions (DFI), Division of Corporate and Consumer Services, UCC section","searchUrl":"https://wims.dfi.wi.gov/homepage","notes":"Filing is with DFI, not the Secretary of State; a free search by debtor name or file number is available, and paid UCC-11 searches return certified listings and copies."},"publicPromptPay":{"statute":"Wis. Stat. §16.528 (state agencies); Wis. Stat. §66.0135 (local governments)","days":"30 days after receipt of a properly completed invoice, or after receipt and acceptance of the goods or services, whichever is later","interest":"Interest from the 31st day at the rate in Wis. Stat. §71.82(1)(a), which is 12% a year, compounded monthly","notes":"A prime contractor must pay subcontractors within 7 days after it is paid by the agency, or owe interest at the same rate from the 8th day (§16.528(2m)). Exceptions include federally funded payments, good-faith disputes noticed in time, and contracts that set their own late-payment terms. A court awards reasonable attorney fees to the prevailing party in an action for interest.","sourceUrl":"https://docs.legis.wisconsin.gov/statutes/statutes/16/iii/528"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Wisconsin has no prompt payment statute for private construction. Under Wis. Stat. §779.02(5), money an owner pays to a prime contractor or subcontractor for an improvement is a trust fund for unpaid labor and material claims until they are paid.","sourceUrl":"https://docs.legis.wisconsin.gov/statutes/statutes/779/i/02/5"},"lien":{"statute":"Wis. Stat. §779.01 et seq.","preliminaryNotice":"Subcontractors and suppliers must serve written notice on the owner within 60 days after first furnishing labor or materials (§779.02(2)(b)); prime contractors put the notice in the owner contract or serve it within 10 days of first furnishing","claimDeadline":"Within 6 months after the claimant last furnished labor or materials, and at least 30 days after serving a notice of intent to file a lien claim on the owner (§779.06)","enforceDeadline":"Suit within 2 years after the lien claim is filed (§779.06(1))","sourceUrl":"https://docs.legis.wisconsin.gov/statutes/statutes/779/i/06"},"publicBond":{"statute":"Wis. Stat. §779.14","threshold":"State contracts over $369,000 require a payment and performance bond ($148,000 to $369,000 unless a substitute assurance is allowed); local government contracts over $148,000 require one ($74,000 to $148,000 unless a substitute is allowed); figures as shown in the current statute","claimNotice":"Written notice to the prime contractor within 60 days after first furnishing labor or materials, unless the claimant is listed in the required subcontractor list or the contract is $5,000 or less; suit within 1 year after work under the contract is completed","sourceUrl":"https://docs.legis.wisconsin.gov/statutes/statutes/779/i/14"},"other":["UCC records sit with the Department of Financial Institutions, so a lien search on a Wisconsin business starts at DFI, not the Secretary of State.","Construction money paid to a prime or sub is a trust fund for unpaid subs and suppliers under §779.02(5), so a factor buying a contractor's receivables should confirm that lower-tier parties are being paid."],"faqs":[{"q":"Is invoice factoring legal in Wisconsin?","a":"Yes. Factoring is a sale of accounts receivable, and Wisconsin handles it under its version of UCC Article 9. The factor typically files a UCC-1 with the Department of Financial Institutions to perfect its interest. Wisconsin has no license or registration specific to commercial factoring. Read the recourse terms, reserve and fee schedule before you sign."},{"q":"Does Wisconsin require a disclosure for factoring deals?","a":"No. As of November 2026, Wisconsin has not enacted a commercial financing disclosure law, so a factor is not required to give you a state form with an APR or total cost. Ask for every fee in writing (discount rate, reserve, minimums, termination) and compare offers on the effective cost per month."},{"q":"Where do I search for UCC liens in Wisconsin?","a":"Search through the Department of Financial Institutions, not the Secretary of State. DFI's online system offers a free search by debtor name or file number, and paid UCC-11 searches return certified results with copies. Search your own business before you factor, since an existing bank lien on receivables usually has to be released or subordinated."},{"q":"How fast do Wisconsin state and local agencies have to pay?","a":"Generally within 30 days of a properly completed invoice or acceptance of the work, whichever is later. After that, interest runs at 12% a year, compounded monthly, unless an exception applies, such as federally funded payments or a timely noticed dispute. Prime contractors must pay subs within 7 days of being paid, so public receivables in Wisconsin tend to be reliable for factoring."}],"sources":[{"label":"Wis. Stat. §16.528, prompt payment by state agencies","url":"https://docs.legis.wisconsin.gov/statutes/statutes/16/iii/528"},{"label":"Wis. Stat. §71.82(1)(a), interest rate","url":"https://docs.legis.wisconsin.gov/statutes/statutes/71/xiii/82/1/a"},{"label":"Wis. Stat. §779.06, lien claim filing and enforcement","url":"https://docs.legis.wisconsin.gov/statutes/statutes/779/i/06"},{"label":"Wis. Stat. §779.02(5), construction trust funds","url":"https://docs.legis.wisconsin.gov/statutes/statutes/779/i/02/5"},{"label":"Wis. Stat. §779.14, public improvement bonds","url":"https://docs.legis.wisconsin.gov/statutes/statutes/779/i/14"},{"label":"Wisconsin DFI, search lien filings","url":"https://dfi.wi.gov/Pages/BusinessServices/UCC/SearchLienFilings.aspx"},{"label":"Wisconsin DFI, UCC FAQ","url":"https://dfi.wi.gov/Pages/BusinessServices/UCC/FAQ.aspx"},{"label":"Levelset, Wisconsin mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/wisconsin-lien-law-faqs/"},{"label":"Levelset, Wisconsin prompt payment FAQs","url":"https://levelset.com/prompt-payment/wisconsin-prompt-payment-faqs"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high: prompt pay, lien, trust fund and bond rules read from the official Wisconsin statutes; the §779.14 bond thresholds are inflation-adjusted figures as displayed on the legislature's site and may change; §66.0135 (local) was confirmed through Levelset, not the official text; economy names are from news and state sources.","page_url":"/states/wisconsin/"},{"code":"WY","name":"Wyoming","verifiedOn":"2026-11-12","summary":"Wyoming has no commercial financing disclosure law, and UCC financing statements are filed centrally with the Secretary of State through its online UCC system. State and local agencies that pay late owe 1.5% a month interest from day 45, which makes government receivables here attractive to factor.","economy":{"paragraphs":["Wyoming receivables come mostly from energy and minerals. Coal mines in the Powder River Basin around Gillette, oil and gas operators, and trona (soda ash) mines in Sweetwater County near Green River buy trucking, equipment, repair, fabrication and oilfield services. Uranium and bentonite add smaller supply chains. In Cheyenne, F.E. Warren Air Force Base, home of the 90th Missile Wing and its Minuteman III fields, contracts for construction and support work. Tourism around Yellowstone, Grand Teton and Jackson supports hotels, food suppliers and contractors, and cattle ranching drives agricultural receivables.","Energy work is cyclical: drilling and mine activity rise and fall with commodity prices, and service companies can see customers stretch payment in a downturn. Oil and gas contractors have a separate lien under Wyo. Stat. §29-3-101 et seq. that can attach to wells, mines and pipelines. Public payers must pay within 45 days or owe 1.5% a month, and tourism businesses that sell to hotels and parks run on a short summer season."],"metros":["Cheyenne","Casper","Gillette","Laramie","Rock Springs"],"industries":["Coal mining","Oil and natural gas production and oilfield services","Trona and soda ash mining","Tourism and hospitality","Cattle ranching and agriculture"],"federalInstallations":["F.E. Warren Air Force Base (Cheyenne)"]},"disclosure":{"status":"none","name":null,"citation":null,"billOrAct":null,"effective":null,"threshold":null,"coversFactoring":null,"aprRequired":null,"registration":null,"exemptions":null,"enforcement":null,"notes":"No commercial financing or sales-based financing disclosure bill was found in the 2025 or 2026 Wyoming sessions; national trackers as of 2026 do not list the state.","sourceUrl":null,"thresholdUsd":null},"ucc":{"office":"Wyoming Secretary of State, Business Division (UCC and EFS filings)","searchUrl":"https://ucc.wyo.gov/UCC/Default.aspx","notes":"The online UCC E-System requires a registered account with prepaid fees; the same office also runs the central filing system (EFS) for farm product liens."},"publicPromptPay":{"statute":"Wyo. Stat. §16-6-601 and §16-6-602","days":"45 days after receipt of a correct notice of the amount due, unless the contract says otherwise","interest":"1.5% a month on the unpaid balance from the 45th day until paid, unless there is a good-faith dispute","notes":"Applies to any state agency or political subdivision buying goods or services, including construction services, from a nongovernmental entity. There is no statutory deadline for a prime contractor to pay its subs on public jobs.","sourceUrl":"https://wyoleg.gov/statutes/compress/title16.pdf"},"privatePromptPay":{"statute":null,"ownerToContractor":null,"contractorToSub":null,"interest":null,"notes":"Wyoming has no prompt payment statute for private construction; payment timing is set by the contract.","sourceUrl":"https://www.levelset.com/prompt-payment/wyoming-prompt-payment-faqs/"},"lien":{"statute":"Wyo. Stat. §29-1-201 et seq. and §29-2-101 et seq.","preliminaryNotice":"Required. Subcontractors and suppliers must send notice to the record owner within 30 days after first furnishing, with a copy to the contractor they work for; prime contractors must send it before receiving any payment. Missing it bars the lien (§29-2-112)","claimDeadline":"Subcontractors and suppliers generally have 120 days (prime contractors 150 days) after the earlier of last furnishing or substantial completion (§29-2-106); a notice of intent must go to the record owner at least 20 days before filing (§29-2-107)","enforceDeadline":"Suit within 180 days after the lien statement is filed (§29-2-109)","sourceUrl":"https://wyoleg.gov/statutes/compress/title29.pdf"},"publicBond":{"statute":"Wyo. Stat. §16-6-112 to §16-6-121","threshold":"Public works contracts over $150,000 require a bond of at least 100% of the contract price; at $150,000 or less the public entity may accept another approved guarantee","claimNotice":"Subcontractors and suppliers must notify the general contractor of their right to bond protection within 60 days after first furnishing (§16-6-121); suit within 1 year after final completion of the public work (§16-6-115)","sourceUrl":"https://wyoleg.gov/statutes/compress/title16.pdf"},"other":["Wyoming's 1.5% a month interest on late public payments (§16-6-602) covers goods and services generally, not just construction.","Oil, gas, mine and pipeline work has its own lien under §29-3-101 et seq., filed with the county clerk generally within 180 days after last furnishing, for amounts over $750.","Wyoming's 30-day preliminary notice for construction liens is short, and missing it bars the lien, which matters to a factor buying a subcontractor's invoices."],"faqs":[{"q":"Is invoice factoring legal in Wyoming?","a":"Yes. Factoring is a sale of accounts receivable, and Wyoming handles it under its version of UCC Article 9. The factor usually files a UCC-1 with the Secretary of State to perfect its interest. Wyoming has no state license or registration specific to commercial factoring, so the contract terms (recourse, reserve and fees) carry most of the weight."},{"q":"Does Wyoming require a disclosure for factoring deals?","a":"No. As of November 2026, Wyoming has not passed a commercial financing disclosure law, so a factor does not have to give you a state form showing an APR or total cost. Ask for every fee in writing and compare offers on the effective cost per month, including minimums and termination fees."},{"q":"Where do I search for UCC liens in Wyoming?","a":"The Wyoming Secretary of State keeps UCC records in its online UCC E-System at ucc.wyo.gov. Searching online requires a registered account with prepaid fees, and written search requests can also be sent to the office. Search your own business before you factor, since a lender's existing lien on receivables can block a new factor."},{"q":"Do Wyoming government agencies pay interest on late invoices?","a":"Yes. Under Wyo. Stat. §16-6-602, a state agency or local government that buys goods or services must pay within 45 days of a correct invoice, unless the contract says otherwise. After that it owes 1.5% a month on the unpaid balance, unless the amount is in good-faith dispute. That rule makes Wyoming public receivables dependable collateral for factoring."}],"sources":[{"label":"Wyoming Statutes Title 16 (§16-6-112 to §16-6-121, §16-6-601 to §16-6-602)","url":"https://wyoleg.gov/statutes/compress/title16.pdf"},{"label":"Wyoming Statutes Title 29 (construction and oil and gas liens)","url":"https://wyoleg.gov/statutes/compress/title29.pdf"},{"label":"Wyoming Secretary of State, UCC E-System","url":"https://ucc.wyo.gov/UCC/Default.aspx"},{"label":"Wyoming Secretary of State, UCC E-System user guide","url":"https://sos.wyo.gov/Forms/Publications/UCC_Training_Manual.pdf"},{"label":"Levelset, Wyoming mechanics lien FAQs","url":"https://www.levelset.com/mechanics-lien/wyoming-lien-law-faqs/"},{"label":"Levelset, Wyoming prompt payment FAQs","url":"https://www.levelset.com/prompt-payment/wyoming-prompt-payment-faqs/"},{"label":"Venable, state commercial financing disclosure laws (March 2026)","url":"https://www.venable.com/insights/publications/2026/03/state-commercial-financing-disclosure-laws"}],"confidence":"high: lien, bond and prompt pay rules read from the official Wyoming statute compilations on wyoleg.gov; disclosure status based on bill searches and national trackers; payment-term and seasonality statements in the economy paragraphs are general, not sourced figures.","page_url":"/states/wyoming/"}]