New York Enacts APR Disclosure Laws

S.B. 5470 is a New York law requiring non-bank lenders to provide corporate borrowers specific disclosures in the loan paperwork and prior to formal consummation of the loan. The law was enacted in order to create more transparency for small business borrowers surrounding their application for credit from non-conventional banking institutes.

New York Enacts Apr Disclosure Laws - Grant Phillips Law Pllc
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New York Enacts Apr Disclosure Laws - Grant Phillips Law Pllc

Merchant Cash Advance Renewal- The newly enacted law specifically names an MCA as one specific form of corporate financing that S.B. 5470 governs. It's About