Small business owners in New York City, listen up: If you've taken a merchant cash advance (MCA), you need to know what factor rate you have agreed to and how much it could cost you. But what exactly is it a "factor rate"? Let's break it down. Factor rates: not the...
New York's Commercial Finance Disclosure Law (CFDL) marks a significant step in bridging the regulatory gap where merchant cash advance (MCA) companies have historically operated with less oversight than traditional banks. Small business owners in New York City should...
Having a uniform commercial code (UCC) lien can feel like a weight on your business's shoulders, especially if you're operating in the bustling state of New York. It can be quite a challenge to understand how to resolve this issue and get your business back on track....
Are you a business owner in New York? Have you ever wondered about Uniform Commercial Code (UCC) liens and what assets a creditor could potentially claim? If you have, then you’re most likely in a similar situation. There’s no shame in taking advantage of quick...
As a business owner, you may have encountered situations where creditors have engaged in unfair or deceptive practices, such as misrepresenting the terms of a merchant cash advance (MCA) or improperly filing a UCC lien against your business. Managing debt can already...
Obtaining a merchant cash advance (MCA) may seem like the right decision to address your business' funding needs. It is a straightforward way to access immediate financial resources with minimal requirements and flexible repayment arrangements. However, this option...
A UCC lien, or Uniform Commercial Code lien, is a notice filed by a creditor. It is a public declaration that they have an interest in one or more of your assets as collateral for a debt. Think of it like a bookmark in a book: It is a way for your creditor to mark...
Owning and running a business could be a dream for many people, making them go to lengths to start it using various funding sources, no matter how risky. In some cases, the owner could put down the business as collateral for a loan, putting pressure on its capacity to...
Dealing with aggressive collection tactics after taking out a Merchant Cash Advance (MCA) can be a stressful experience. You may feel like you are under constant pressure, but it is important to remember that there are ways you can protect yourself. Know your rights...
Running a business is challenging, especially when cash flow runs thin. Merchant cash advances (MCAs) might seem like a quick fix – fast cash to keep the lights on. However, if you end up unable to make the payments, you could face harsh collection tactics that...