Regulates commercial finance licensing

This bill establishes a new licensing requirement for individuals and entities making or soliciting commercial financing products to businesses located in New York State. It defines these products as loans, purchase transactions, or leasing deals involving up to $500,000 and requires applicants to obtain a license from the state superintendent, pay fees, and maintain specific financial assets. The legislation outlines exemptions for banks, credit unions, and those making very few transactions, while also setting rules for applications, location changes, and penalties for unlicensed operations.