TRUST CAPITAL Blog

Some transportation officials understand that larger trucks pose grave road threats. For this reason, the trucking industry remains under the regulation of strict state and federal laws. Our post highlights the major features of the California mandates on commercial transportation financing and more.

The OAL, or the California Office of Administrative Law, has approved the Department of Financial Protection and Innovation's proposed disclosure regulations of commercial finance. These regulations had been implemented on the disclosure requirements of commercial financing under SB 1235 (Chapter 1011, Statutes of 2018 ). As known already, in 2018, California enacted SB 1235, which involved the non-banking lenders and other financing companies in offering the finance companies into offering written, consumer-style disclosures over the few specific commercial transactions that involved small business loans as well as merchant cash advances.

Commercial transportation financing can assist business owners in buying or repairing the semi-trucks needed to make the right deliveries of transport materials or hauling goods. You can start applying for commercial transportation loans if you cannot make the right outright purchases, whether one truck suffices or you wish to establish your own smaller fleet of semi trucks.