Your UCC record in Virginia
Funders file a UCC-1 financing statement with the Virginia State Corporation Commission Clerk's Information System UCC Search to put other creditors on notice. Search it by your exact legal business name. Lien position: a UCC filing names a secured party, not who gets paid first.
Levraq does not read the Virginia registry yet, so your report will not list Virginia filings. The Debt Check still measures your remittance ratio, stacking and tier from your own answers.
Commercial financing disclosure in Virginia
Virginia Code §§6.2-2228 to 6.2-2238 (Sales-Based Financing Providers, 2022 Acts c. 516), effective 2022 (chapter 516; the statute page does not state the day): Sales-based financing providers and brokers must register with the State Corporation Commission and disclose at the time of a specific offer the financing and disbursement amounts, finance charge, total repayment amount, estimated number of payments, payment amounts, frequency and method, other fees, prepayment treatment, collateral and any broker compensation. Threshold stated in the statute: single transactions over $500,000 are exempt (§6.2-2229). Source, checked 2026-11-04.
Confession of judgment in Virginia
Virginia Code §6.2-2234(C): no sales-based financing contract may contain a confession-of-judgment provision or anything similar, and any such provision is unenforceable. Source, checked 2026-11-04.
Work the numbers
Two calculators that need nothing from any registry: the annualized cost of an advance, and the share of revenue going to remittances. The Debt Check combines both with what you report.
Total payback
$67,500
Advance × factor rate
Cost of the advance
$17,500
Payback minus advance
Simple annualized rate
71%
Cost ÷ advance × 365 ÷ term days. Not a compounded APR; the true cost of a daily-remittance advance is higher because the balance falls while the fee does not.
Average daily payment
$375
Payback ÷ term days
Monthly remittance
$9,450
Daily × 21 business days
Remittance-to-revenue
24%
Between 10% and 25%: Strained in the Debt Check rule.
Paid to advances per year
$113,400
At today's pace
UCC coverage is five states (CT, CO, OR, FL, CA) plus SEC filers; no match is not proof of no filing. Informational only, not legal or financial advice. Levraq is a diagnostic and referral service, not a lender, law firm or debt-settlement company. See about.
Run the Debt Check for a Virginia business
