[fundingsmbs]

I agree. And they will walk away from other states that follow along. People cant demand risky capital at low rates from people. Default ratios prove its not working model.

Id search for my posts on default ratios/ sba statistics etc ...but it isnt worth the energy

everyone thought folks would walk away after AMI got sued in Cali. Today, CA still remains one of the largest markets for the business. Being transparent doesn't mean you have to walk away. Just disclose your rates fees etc and you will be fine. when you borrow a payday loan, the APR is disclosed. It's not pretty but its disclosed. As far as saying an MCA cant be put into an APR, the majority of MCA's today are repaid with a fixed daily or weekly repayment vs through a variable cc split. If you have a fixed repay product, you can state the APR.