Commercial Loan Broker Licensing by State
One of the most common questions we get from independent brokers: "What states require a commercial loan broker license?" Here's a plain-English, state-by-state breakdown of where you need a license or registration to broker business-purpose commercial financing in the US.
Most states don't require a general commercial broker license — but a growing number do.
Historically, brokering business-purpose commercial loans has been lightly regulated compared with residential mortgage brokering. That's changing. A handful of states now require licensing or registration, and more have adopted commercial financing disclosure laws that treat brokers as covered parties.
State-by-state snapshot
California
License / registration requiredCalifornia Financing Law (CFL) license administered by the DFPI is generally required to broker commercial loans.
Nevada
License / registration requiredMortgage Company / Commercial Mortgage Broker licensing through the Division of Mortgage Lending applies to most commercial real estate brokering.
Arizona
License / registration requiredCommercial mortgage broker licensing applies for CRE-secured loans.
Florida
Disclosure or partial rulesNo general commercial loan broker license, but the new Commercial Financing Disclosure Law imposes registration and disclosure duties on brokers of commercial financing.
New York
Disclosure or partial rulesNo general commercial broker license, but the Commercial Finance Disclosure Law requires disclosures on covered transactions; NY licensing applies for certain lender/servicer activity.
Virginia
License / registration requiredRegistration as a commercial financing broker is required under recent state law.
Utah
License / registration requiredRegistration required for commercial financing providers and brokers under the state's disclosure act.
Connecticut
License / registration requiredSmall business financing broker registration required under the state's commercial financing law.
Georgia
Disclosure or partial rulesCommercial financing disclosure requirements apply; no general broker license for pure commercial deals.
Illinois
Disclosure or partial rulesNo general commercial broker license; disclosure rules apply to certain sales-based financing.
Texas
No general licenseNo general commercial loan broker license for unsecured business loans; separate rules apply to residential and certain regulated products.
Ohio
No general licenseNo general state license to broker commercial business loans.
Pennsylvania
No general licenseNo general commercial loan broker license for business-purpose lending.
North Carolina
No general licenseNo general commercial loan broker license for business-purpose lending.
Tennessee
No general licenseNo general commercial loan broker license.
Michigan
No general licenseNo general commercial loan broker license.
Indiana
No general licenseNo general commercial loan broker license.
Missouri
No general licenseNo general commercial loan broker license.
Colorado
No general licenseNo general commercial loan broker license for business-purpose loans.
Most other states
No general licenseThe majority of US states do not require a general license to broker business-purpose commercial loans. CRE-secured transactions may still trigger mortgage licensing.
Three questions to ask before you originate in a new state
- Is the loan secured by real estate? CRE-secured deals often trigger commercial mortgage broker licensing even in states with no general broker license.
- Does the state have a commercial financing disclosure law? CA, NY, VA, UT, CT, FL, GA, and others impose disclosure or registration duties on brokers of small-business financing.
- Where is the borrower — and where are you? Licensing usually follows the borrower's state, not yours.
Skip the states that require a license.
LENDNOR only operates in states that don't require a commercial loan broker license — so independent brokers can originate without adding a compliance stack. Access the network, technology, and workflows.