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Florida Court Affirms That Merchant Cash Advance Item Not Susceptible To Usury Statute We    Blog Financial Solutions Perspectives

Florida Court Affirms That Merchant Cash Advance Item Not Susceptible To Usury Statute We Blog Financial Solutions Perspectives

This thirty days, a Florida appellate court held that the vendor advance loan (MCA) purchase and purchase contract wasn’t a “disguised loan” and, consequently, had not been at the mercy of Florida’s unlawful statute that is usury. MCA purchase and purchase agreements, that provide merchants an easy and way that is efficient get capital with regards to their operations, aren’t loans. Instead, these agreements constitute the purchase of the vendor’s future receipts because of the MCA business. But, some merchants have actually reported that MCAs are “disguised loans” subject for their states that are respective usury legislation. (more…)