Ascendancy Corp. West is committed to providing financial services to California-based
businesses in strict adherence to the California Financing Law (CFL) and the regulations set
forth by the Department of Financial Protection and Innovation (DFPI). Our operations are
conducted in a manner which ensures compliance with all applicable state laws and regulations.
The CFL mandates the licensing and regulation of finance lenders and brokers involved in making or brokering consumer and commercial loans. It prohibits misrepresentations and fraudulent or deceptive acts in connection with these activities, providing administrative, civil, and criminal remedies for violations. Ascendancy Corp. West adheres to the following California-specific requirements for business loans:
Licensing:
Ascendancy Corp. West will operate California-based business loans and
transactions exclusively under the supervision and regulation of the DFPI and in
compliance with all applicable California Finance Lender Law(s).
Documentation Requirements:
California business loans require underwriting with a minimum of four (4) recent financial banking statements, compared to other states which may only require three (3) months of statements. Ascendancy Corp. West strictly follows this enhanced requirement to ensure thorough financial evaluation and compliance with California standards.
Disclosures:
California requires specific disclosures to be presented to business owners prior to facilitating any business loans. These disclosures provide transparency about loan terms, repayment obligations, and other key details to empower borrowers with informed decision-making.
Financing Options:
In compliance with California CFL standards, Ascendancy Corp. West provides a minimum of two (2) financing options for consideration by business owners seeking loans in California. This ensures businesses have multiple choices tailored to their unique needs.
Ascendancy Corp. West utilizes the NMLS for licensing and regulatory compliance, as mandated by the DFPI. This system streamlines the licensing process and ensures transparency in our operations.
We are dedicated to upholding the highest ethical standards in our financial services, ensuring
that our California-based clients receive transparent, fair, and compliant lending products.
For more information about the California Financing Law and the Department of Financial
Protection and Innovation, please visit the DFPI's official website.
We are dedicated to upholding the highest ethical standards in our financial services, ensuring
that our California-based clients receive transparent, fair, and compliant lending products.
For more information about the California Financing Law and the Department of Financial
Protection and Innovation, please visit the DFPI's official website.
