There are many downsides to merchant cash advances. A merchant cash advance, or MCA, is a type of financing agreement for businesses. An MCA company purchases a portion of a business’s future revenue in exchange for a lump sum. That money is often repaid with a percentage of the business’
Merchant cash advance agreements are drafted in a way that offers an advantage to the lender. Since the documents anticipate a default in payment by the buyer, why then do merchant cash advance companies record judgments in New York? In the past, merchant cash advance companies and other lenders required
New York state law governs most merchant cash advance agreements – even though neither the borrowers nor lenders are typically located in New York. When there is a default on these agreements, the lender must pursue the borrower through debt collection in New York. Until recently, all agreements secured by