New York Enacts APR Disclosure Laws
In order to be a loan, money must be given and repaid no matter what. With a legal Merchant Cash Advance, Courts hold that the money received by the corporate borrower is not being loaned but is rather money provided today for the rights to receive a massive chunk of the corporation’s future receivables.
https://grantphillipslaw.com/n....ew-york-enacts-apr-d
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