New York MCA Laws Updated

Advance, to make certain disclosures in the contract paperwork, available for a small business borrower to make informed borrowing decisions. Examples of required disclosures include revealing the total cost of financing as well as presenting the small business borrower with a defined APR (Annual Percentage Rate).

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

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 Final Disclosure Laws

This is significant development since New York’s Commercial Finance Disclosure Law (CFDL) went into effect August 1st, 2023 and in the law the CFDL has extended disclosure requirements ordinarily required for consumer lending to commercial financing instruments such as a merchant cash advance.

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

Merchant Cash Advances: What Business Owners Often Overlook Until It’s Too Late

The popularity of Merchant Cash Advances (MCAs) is also not sector specific. Predatory funders will finance anyone or anything that generates consistent revenue. Not net profit. Thus, you will find white collar professionals like doctors, dentists and even lawyers have fallen prey to a merchant cash advance.

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

Defending Against a Wynwood Capital Group Breach of Contract Lawsuit

Access strategies for defending against Wynwood Capital Group breach of contract, including legal tips and protective measures offered through Grant Phillips Law, PLLC for effective dispute management.

https://grantphillipslaw.com/l....ist-of-mca-funders-o

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Is it Possible to Negotiate with an MCA Funder Directly?

For many business owners with merchant cash advance debt, the idea of negotiating with the funder directly, regarding obtaining a new financial arrangement for repayment of the MCA, may feel overwhelming and stressful. The short answer is that a merchant can most certainly attempt to negotiate with the MCA funder directly.

https://grantphillipslaw.com/i....s-it-possible-to-neg