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New York MCA Laws Updated

implementation, enforcement, and protocol for compliance. The intent of SB 898 as passed by the New York Legislature is to answer some of these questions and to provide SB 5740 with a far broader reach to include more loan transactions within its purview and includes Merchant Cash Advance transactions.

https://grantphillipslaw.com/new-york-mca-laws-updated/

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Tackle All Your Debt with A Debt Relief Attorney

The solution to REAL, LEGAL & COMPLETE debt relief, is working through an attorney licensed and specializing in Total Consumer Debt Relief. With an experienced attorney a debtor has the ability to view their financial hardship and debt in a total and comprehensive fashion and not in a bubble or vacuum of credit card debt alone.

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New York MCA Laws Updated

On its own, SB 5740 reads somewhat ambiguous, with limited reach. Comes along SB 898 (about two months after SB 5740 passed) providing more context into SB 5740 while simultaneously increasing its regulatory reach.

https://grantphillipslaw.com/new-york-mca-laws-updated/

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New York MCA Final Disclosure Laws

The CFDL was in fact originally passed in 2020 and later amended to include additional commercial financing instruments such as a Merchant Cash Advance.

https://grantphillipslaw.com/new-york-mca-final-disclosure-laws/

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Tackle All Your Debt with A Debt Relief Attorney

These purported specialists fail to inform the debtor that they can only attempt to address unsecured debt such as credit cards and medical bills. A non-attorney is legally prohibited from giving legal advice & most are not qualified to deal with secured debt like real estate mortgages or car loans

https://grantphillipslaw.com/tackle-all-your-debt-with-a-debt-relief-attorney/

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New York MCA Laws Updated

New York law SB 5740 is designed to create transparency around loans originated in the State of New York and provided to small businesses via unconventional non-bank lenders, SB 5740 passed in December of 2020.

https://grantphillipslaw.com/new-york-mca-laws-updated/

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New York MCA Laws Updated

New York law SB 5740 is designed to create transparency around loans originated in the State of New York and provided to small businesses via unconventional non-bank lenders, SB 5740 passed in December of 2020.

https://grantphillipslaw.com/new-york-mca-laws-updated/

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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/new-york-mca-final-disclosure-laws/

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New York Enacts APR Disclosure Laws

The intent of S.B 5470 is to provide corporate and small business borrowers with more transparency surrounding their taking of credit, in order to allow for better, more informed decisions, a clearer understanding of how much is being borrowed and under what terms and to provide a corporate borrower with the ability to compare different offers of credit.

https://grantphillipslaw.com/new-york-enacts-apr-disclosure-laws/

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Tackle All Your Debt with A Debt Relief Attorney

As an attorney licensed & practicing in Florida, New York and New Jersey, with a focus on Total Consumer Debt Relief, I am receiving more and more clients, who were once signed into an alleged debt settlement program, hired a non-attorney to address their debt or had already paid exorbitant amounts of money to such companies, and yet, their debt was NOT settled.

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Merchant Cash Advance 101 – Explained

Worse yet, the Government’s intervention in saving the banking industry, brought with it more regulation, laws and strict underwriting standards, making it exceedingly unlikely for a small business to obtain necessary financing.

https://grantphillipslaw.com/merchant-cash-advance-101-explained/

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Stay informed with the Grantphillipslaw.com merchant cash advance blog. Get expert legal advice and stay ahead in the competitive business world.

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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/new-york-mca-laws-updated/

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With a cash advance in New Jersey from GrantPhillipslaw.com, you can get the necessary financial assistance. Put your trust in our caring staff to help you get through difficult times.

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