On December 23, 2020, New. York Governor Cuomo signed into law A10118A/S5470B requiring disclosures in various commercial financing transactions, including loans, merchant cash advances ("MCA"), and factoring transactions...more
On July 23, 2020, the New York legislature passed A10118A/S5470B requiring disclosures in various commercial financing transactions, including loans, merchant cash advances ("MCA"), and factoring transactions (the "Disclosure...more
8/3/2020
/ Annual Percentage Rate (APR) ,
Disclosure Requirements ,
Financial Statements ,
Lenders ,
Loans ,
Merchant Cash Advance (MCA) ,
Merchants ,
New Rules ,
NYDFS ,
Proposed Rules ,
Regulation Z ,
Small Business ,
State Legislatures ,
Truth in Lending Act (TILA)
COVID-19 and the related emergency has had a dramatic effect on small businesses. States have implemented "stay-at-home" orders or otherwise ordered the closure of non-essential businesses, resulting in the virtual...more
4/7/2020
/ Business Closures ,
Compliance ,
Coronavirus/COVID-19 ,
Financial Distress ,
Financing ,
Merchant Cash Advance (MCA) ,
Natural Disasters ,
Risk Assessment ,
Small Business ,
State of Emergency ,
Usury