Merchant Cash Advance 101 – Explained

The industry has been booming ever since and without regulation and no barrier to entry, hundreds of participants have entered the MCA lending sphere. While many engage in deceptive lending practices together with other predatory abuses, including illegal collection methods, harassment and fraud, there are some participants that do follow the law.

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 Final Disclosure Laws

The CFDL was in fact originally passed in 2020 and later amended to include additional commercial financing instruments such as a Merchant Cash Advance.

https://grantphillipslaw.com/n....ew-york-mca-final-di

New York MCA Laws Updated

New York law SB 5740 is designed to create transparency around loans originated in the State of New York and provided to small businesses via unconventional non-bank lenders, SB 5740 passed in December of 2020.

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

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.

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