1. Short title This Act may be cited as the Small Business Financing Disclosure Act of 2023 . 2. Application of the Truth in Lending to small business financing (a) In general The Truth in Lending Act ( 15 U.S.C. 1601 et seq. ) is amended by adding at the end the following: 6 Small Business Financing 191. Definitions. 192. Application of this title to small business financing. 193. Additional disclosures. 194. Restrictions on double-dipping. 195. Additional provisions. 191. Definitions In this chapter: (1) Closed-end commercial credit The term closed-end commercial credit — (A) means a secured or unsecured closed-end extension of credit, including financing with an established principal amount such as equipment financing that is not a lease, as defined in section 2A–103 of the Uniform Commercial Code, the proceeds of which the recipient does not intend to use primarily for personal, family or household purposes; and (B) includes financing with an established principal amount and duration. (2) Consumer financial product or service The term consumer financial product or service has the meaning given the term in section 1002 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 ). (3) Director The term Director means the Director of the Bureau. (4) Factoring The term factoring means a transaction that includes an agreement to purchase, transfer, or sell a legally enforceable claim for payment held by a recipient for goods the recipient has supplied or services the recipient has rendered that have been ordered but for which payment has not yet been made. (5) Finance charge (A) In general The term finance charge — (i) means the cost of financing as a dollar amount