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Disclosures
Our role
Sparks Family Finance is a broker of commercial financing. We are not a lender. We do not make credit decisions, we do not fund transactions with our own capital, and we do not set the terms of any financing offered to you. Each financing agreement is between you and the lender.
How we are compensated
We are paid by the lender when a transaction funds, typically as a percentage of the amount financed. You pay us no direct fee. Because our compensation varies by lender and product, we disclose the compensation associated with each offer at the time we present it.
[TODO: state your actual commission ranges, and confirm your disclosure format meets the requirements of every state where you do business.]
Licensing
[TODO — this is the most important item on the page.] Several states license or register commercial financing brokers, and the rules differ meaningfully from state to state. Confirm with counsel which states require you to be licensed or registered as a broker, lender, or finance company for the products you place, and list your license numbers here and in the site footer. Do not accept applications from a state before you have confirmed your standing there.
Commercial financing disclosure requirements
A growing number of states require lenders and brokers to deliver a standardized written disclosure — including total dollar cost and an annualized rate — before a small business signs a commercial financing agreement. [TODO: confirm the current list of states with such requirements and the required format for each, and build the disclosure into your offer presentation process.]
Rates and terms shown on this site
All amounts, rates, factor rates, fees, terms, and funding timelines on this website are typical market ranges shown for general comparison. They are not offers, quotes, or pre-approvals, and they do not constitute a commitment to lend. Actual terms are determined by the lender following underwriting and may differ materially.
[TODO: verify every figure on this site against what your lender network will actually deliver. Advertising a rate you cannot produce is a UDAAP problem.]
Credit authorization
By submitting an application, you authorize Sparks Family Finance and its lending partners to obtain business and personal credit reports and to verify the information you provide. We begin with a soft inquiry, which does not affect your personal credit score. A hard inquiry occurs only after you authorize a specific offer.
Contact and communication consent
By providing a phone number you consent to be contacted by phone, text, and email about your inquiry. Message frequency varies and message and data rates may apply. Reply STOP to opt out of texts. [TODO — have counsel confirm your TCPA consent language and keep records of consent.]
Equal opportunity
[TODO: add your ECOA / equal credit opportunity statement. The Equal Credit Opportunity Act applies to business credit, including the adverse action notice requirements.]