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ILLINOIS COMMERCIAL FINANCING DISCLOSURE BILL INTRODUCED

On February 10, the Illinois Senate introduced Senate Bill 2234, the Small Business Truth in Lending Act. S.B. 2234 would join similar laws in California and New York in broadly requiring commercial financing to provide consumer Truth-in-Lending-like disclosures for commercial financing under $2.5 million. See our prior ALERTS dated February 10, 2023 (New York) and June 15, 2022 (California). Read More