Merchant Cash Advance 101 – Explained

Beginning early 2010, after the Great Recession, when the American housing market blew up and the world fell into a financial crisis, conventional banking institutions, for example Chase Bank and Citi, were unwilling to extend credit to small businesses.

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

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

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

On its own, SB 5740 reads somewhat ambiguous, with limited reach. Comes along SB 898 (about two months after SB 5740 passed) providing more context into SB 5740 while simultaneously increasing its regulatory reach.

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

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