MERCHANT CASH ADVANCE ATTORNEY NEW YORK

New York City remains the hub of finance throughout the world. Like most alternative forms of finance, the world of Merchant Cash Advance found a stronghold in New York City and more specifically around Wall Street. With Manhattan as the epicenter of economic and world finance, coupled with the fact that the largest lenders, banks, private equity and law firms all located there, it is no wonder that Merchant Cash Advance loans are dominated by New York based lenders. However another major reason that MCA funders chose to set up shop in New York State is because New York law allowed funders to issue a Merchant a Confession of Judgment. Last year this law was updated to prohibit a New York MCA funder from issuing a COJ to a non-New York resident.

If you have an MCA position with any funder in New York or across the entire United States contact the law firm of Grant Phillips Law, PLLC. We are New York Merchant Cash Advance Attorneys with the knowledge and experience to handle all your Merchant Cash Advance positions, even if they originated from another State. Merchant Cash Advance Attorney New York & All 50 States across the country. If you signed a Confession of Judgment with your MCA Contract, reach out to your New York Merchant Cash Advance Attorney for help and advice. 

Merchant Cash Advance Attorney New York

Did you know?

Twenty Three (23) year ago information about Merchant Cash Advance loans became available and publicly accessible. Specifically, an individual by the name of Barbara S. Johnson is listed as the official inventor of split-funding, a system that allows for automatic loan repayment to the funders from a single credit card processor shared with the Merchant. Ms. Johnson obtained a Patent for this system in 1997. Her story is fascinating. Johnson was running four Gymboree Playgroup & Music franchises. Unable to get working capital to fund a summer marketing campaign, she wondered whether she could borrow against future credit card sales derived from parents bringing their kids back for fall classes. About a year later, Johnson and her husband founded Advance Me, a MCA Funder. Her Patented technology allowing for the splitting of credit card sales was a major step in the birth and growth of the MCA world. Later her company would become CAN Capital.

Merchant Cash Advance Attorney New York

Did you know?

The interest rate or effective APR is so excessive and in turn profitable for Merchant Cash Advance funders that large publicly traded companies have also entered the Merchant Cash Advance arena. Some examples include Shopify, Square, PayPal and even American Express. There are also major investment banks like Morgan Stanley backing several funders and hedge funds.

Merchant Cash Advance Attorney New York

Did you know?

The attorneys at Grant Phillips Law, PLLC have seen cases where the effective APR on a Merchant Cash Advance was in excess of 1,200%

If you Merchant Cash Advance position is eating away at your business cash flow and revenues, don’t hesitate to contact New York Merchant Cash Advance Attorney Grant Phillips Law, PLLC – serving clients in New York and across all 50 States. Merchant Cash Advance Attorney

Merchant Cash Advance Attorney New York

Did you know?

In New York State there is no licensing requirement to become an MCA lender or broker! Some States are beginning to take a look at this, but at present no background checks, licensing, bond requirements or laws exist, to govern the creation of a Merchant Cash Advance funder and or broker.

Merchant Cash Advance Attorney New York

You have questions: We have answers.