A UCC filing is a critical aspect of securing loans and merchant cash advances (MCAs). If you have agreed to an MCA that involves a UCC lien, you need to know exactly what it covers and how it affects your business. Impact on your assets A UCC filing is the official...
Business owners struggling with merchant cash advance (MCA) debts often find themselves in a risky situation when faced with aggressive collection tactics. MCA collectors may offer settlement deals that seem too good to be true to recoup their investments. Therefore,...
When a lender files a Uniform Commercial Code (UCC)-1 statement, it can be a wake-up call for entrepreneurs. Suddenly, the business they've worked so hard to build is at risk of being tied up in red tape and financial obligations. But what does a UCC-1 statement mean,...
MCAs are a significant player in the U.S. financial landscape, and they're only gaining momentum. According to a recent report, the merchant cash advance market was valued at a staggering $17,886.16 million in 2023. It’s projected to soar to $32,658.23 million by...
The New York State Department of Financial Services has introduced new rules requiring commercial financing providers to disclose specific information to customers when making financing offers. These rules apply to several types of financing, including sales-based...
Business owners facing financial difficulties worry about losing their valuable assets. One significant concern is the potential for creditors to claim their real estate property through a Uniform Commercial Code (UCC) lien. If you are an entrepreneur facing this...
If you are considering getting a Merchant Cash Advance (MCA) or have already gotten one, you may be interested to learn that the New York State Department of Financial Services has issued new regulations that require MCA providers to give customers full disclosure...
Merchant Cash Advances (MCAs) are a type of business funding not considered a loan. Instead, MCA providers take a percentage of the business's daily income as payment for the lump sum advance given. This makes MCAs attractive for small businesses that do not have...
The law does not consider a Merchant Cash Advance (MCA) a loan, so the government loosely regulates MCAs. However, that does not mean MCA providers can bypass laws and be as aggressive as they can in collecting payments from you. The law still requires that MCA...
Creditors commonly grant loans by placing UCC liens on a business's assets, which could serve as collateral. Debtors can benefit from these arrangements, considering they are quick and easy to process, which might be ideal for urgent funding. Like other loans,...