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New York Enacts APR Disclosure Laws
How can Merchant Cash Advance lenders charge corporate borrowers what they do? The Courts have held a Merchant Cash Advance (a real MCA) i.e. the purchase of future receivables is not a loan.
https://grantphillipslaw.com/n....ew-york-enacts-apr-d
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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
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New York MCA Final Disclosure Laws
The final rules provide that the finance charge on a transaction should be calculated and disclosed. This means the fees that the Merchant Cash Advance Funder usually charges for underwriting and origination.
https://grantphillipslaw.com/n....ew-york-mca-final-di