Merchant Cash Advance 101 – Explained

However, sadly many businesses have been destroyed because of these loans like funding instruments. It is easy to fall prey to an MCA. Afterall, once the business is denied conventional financing or cannot obtain an SBA loan, they are desperate and vulnerable to the non-stop barrage of cold caller sales people, offering easy and quick money.



https://grantphillipslaw.com/m....erchant-cash-advance

Tackle All Your Debt with A Debt Relief Attorney

The solution to REAL, LEGAL & COMPLETE debt relief, is working through an attorney licensed and specializing in Total Consumer Debt Relief. With an experienced attorney a debtor has the ability to view their financial hardship and debt in a total and comprehensive fashion and not in a bubble or vacuum of credit card debt alone.



https://grantphillipslaw.com/t....ackle-all-your-debt-

New York MCA Laws Updated

implementation, enforcement, and protocol for compliance. The intent of SB 898 as passed by the New York Legislature is to answer some of these questions and to provide SB 5740 with a far broader reach to include more loan transactions within its purview and includes Merchant Cash Advance transactions.



https://grantphillipslaw.com/n....ew-york-mca-laws-upd

New York Enacts APR Disclosure Laws

The new TILA-like Disclosure requirements were signed into law on December 23rd of 2020 with an original commencement date of June 21, 2021. However, since passing S.B. 5470 the New York Senate has provided additional guidance and updates (In March 2021), and included in this update is a new date for commencement of the law to begin January 1st, 2022.



https://grantphillipslaw.com/n....ew-york-enacts-apr-d

Merchant Cash Advance 101 – Explained

2010 saw a large increase in MCA loan origination. This growth can be attributed to the economic circumstances and fledging economy at that time. It was a perfect combination of circumstance and timing. Small business lending had all but dried up, demand for funding had risen sharply and the resulting turmoil presented both the conditions and timing necessary for the MCA industry to grow exponentially.



https://grantphillipslaw.com/m....erchant-cash-advance