shall only be used to describe annualized percentage rates, such as the annual interest rate. (c) Requirement To state APR If a provider states in writing a rate of finance charge or a financing amount to a recipient during an application process for small business financing, the provider shall also state the annual percentage rate or, in the case of sales-based financing or factoring, the estimated annual percentage rate, with equal or greater prominence, using the term annual percentage rate or the abbreviation APR . . (b) Technical and conforming amendment The table of chapters for title I of the Consumer Credit Protection Act is amended by adding at the end the following: 6. Small Business Financing 191. . (c) Rulemaking deadline Not later than the end of the 2-year period beginning on the date of enactment of this Act, the Director of the Bureau of Consumer Financial Protection shall prescribed final regulations to carry out the amendments made by this section. (d) Effective date The amendments made by subsection (a) shall take effect on the date that is 36 months after the date of enactment of this Act.