Shield Funding is a brand solely owned and operated by Ascendancy Corp. (a New York entity) and Ascendancy Corp. West (a California entity). We are committed to providing financial services to California-based businesses in full compliance with the California Financing Law (CFL) and the regulations established by the Department of Financial Protection and Innovation (DFPI). All operations are conducted with strict adherence to applicable state laws and regulatory standards.
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., Ascendancy Corp. West, (operating. as the brand “Shield Funding”) West adheres to the following California-specific requirements for business loans:
Licensing:
Our company operates 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. We strictly follow 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, (operating. as the brand “Shield Funding”) 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.
We utilize 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.
