- Virginia's Sales-Based Financing law (Va. Code Title 6.2, Chapter 22.1, effective July 1, 2022) requires providers to give a state-prescribed disclosure at the time of a specific offer and providers and brokers to register with the State Corporation Commission, though it does not mandate an APR figure or cap transaction size.
- The economy spans Hampton Roads defense, shipbuilding, and the Port of Virginia, Greater Richmond corporate and life-sciences activity, and a dense Northern Virginia data-center and cybersecurity cluster.
- Most of Virginia is served by the SBA Richmond District Office, while Northern Virginia works through the Washington Metropolitan Area District Office in Herndon.
Funding the Virginia economy
Virginia is really several economies in one. In Hampton Roads — Virginia Beach, Norfolk, and Newport News — naval bases, shipbuilding, and the Port of Virginia drive a “DEAL” cluster of defense, energy, aerospace, and logistics that accounts for roughly one in five Virginians and a similar share of state output. Greater Richmond runs on corporate headquarters, financial and professional services, advanced manufacturing, and life sciences, while Northern Virginia hosts one of the densest concentrations of data centers and cybersecurity firms in the world. That mix — heavily tied to federal spending and global trade — keeps demand for capital steady, even as tariffs and federal workforce uncertainty weigh on growth.
Industries we fund across Virginia
- Defense & government contracting — working capital and lines of credit to bridge contract awards and net-30/60 payment cycles.
- Port & logistics — invoice factoring and equipment financing for carriers and warehouses tied to the Port of Virginia.
- Construction & trades — equipment loans and lines of credit for projects across Hampton Roads and the Richmond metro.
- Healthcare & life sciences — practice financing and build-outs in Richmond and the coastal metros.
- Technology — revenue-based financing for IT and cybersecurity firms in the Richmond and Northern Virginia corridors.
What Chapter 22.1 means for you
If you’re weighing a merchant cash advance or other sales-based financing, Virginia has required providers to give you a standardized disclosure at the time of a specific offer since July 1, 2022, and providers and brokers must register with the State Corporation Commission. Note that, unlike California or New York, Virginia’s form does not have to show an APR — so it’s still worth asking for the total payback amount and effective cost so you can compare offers apples to apples. Hoss Capital only works with partners who operate transparently.