If a business urgently needs funding, its owner can seek out various forms of financial aid, such as loans or merchant cash advances (MCAs). Specifically, MCAs can often serve as a lifeline because they are easily accessible, require minimal requirements or...
New York's merchant cash advance (MCA) industry operates largely outside of the laws and regulations that govern traditional banks. The rules that apply to a mainstream small business loan often do not apply to MCAs because they are technically commercial...
Merchant cash advances might seem like another version of a small business loan, but an MCA is not appropriate for businesses of every industry, size and financial situation in New York. So, what businesses are most likely to end up with an MCA? Lots of credit card...
Most types of New York businesses, including manufacturers, restaurants and convenience stores, rely on their equipment. Machinery like ovens, freezers and machine tools let you and your employees provide customers with the goods and services you promise them. Over...
Traditionally, a New York small business owner looking to expand or in need of quick cash would go to a bank or other lender and apply for a business loan. In recent years, an alternative called a merchant cash advance (MCA) has arisen. They both purport to help...
As we have discussed before in this blog, a merchant cash advance (MCA) is a type of cash advance for small businesses that cannot obtain traditional credit. The advancing company gives the cash to the debtor in exchange for a fixed percentage of the debtor's daily...
A UCC lien is a very common result of a business taking out a merchant cash advance (MCA) or other secured loan. The lender files a UCC report to let other potential creditors know that the business has already leveraged some or all of its assets. While it is not...
A business owner considering a merchant cash advance (MCA) must know what terms the lender is offering before they can decide whether to proceed. After all, you would not want to walk into an MCA agreement blind about what percentage of your credit card transactions...
Most lenders prefer to secure their loans against something substantial that belongs to the borrower. A mortgage is secured by the property being purchased, an auto loan is secured by the vehicle and so on. So it is with most business loans. The lender wants some...
Like most small business owners, when you need to expand or pay for the upkeep of your premises, you need to borrow money. However you might be reluctant to apply for a loan at a traditional bank for various reasons. One alternative out there is the merchant cash...