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,...
Your small business is not located in New York and you don't deal with any customers, vendors or employees there. In fact, you might never have set foot in New York before. But if you run into problems with your merchant cash advance (MCA), you could find yourself...
Predatory merchant cash advances (MCAs) wreak havoc on New York's small businesses. It often feels like these companies must be breaking the law, pushing entrepreneurs to the brink with sky-high fees and relentless repayment terms. If you're a small business owner in...
Running a business in New York is a high-risk, high-reward project. Some risks, like taking out a Merchant Cash Advance (MCA), can seem like one worth taking. It is a particularly appealing option if your business does not have a great credit history or qualify for...
Understanding and managing a Uniform Commercial Code (UCC) lien can be challenging, especially for small business owners. A UCC lien is a legal assertion that a lender files against a borrower's assets. Therefore, a UCC lien can significantly impact a business’s...
A merchant cash advance (MCA) can be a lifeline for a small business needing quick access to capital. However, when repayment becomes challenging, the consequences can be severe. If you are a business owner facing collection tactics, how can you face the situation of...
A UCC lien can be an effective way for lenders to secure loans by covering specific assets as collateral. Still, it can become a double-edged sword, considering how it can put debtors in challenging situations when the amount they borrowed is still insufficient for...