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09-13-2018, 04:52 PM #1Karen37aGuest
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09-13-2018, 04:54 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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09-13-2018, 04:55 PM #3Karen37aGuest
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09-13-2018, 04:59 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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09-13-2018, 05:00 PM #5Karen37aGuest
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09-13-2018, 05:05 PM #6
- Join Date
- Oct 2016
- Posts
- 4,318
“The bill would, until January 1, 2024, additionally require a provider to disclose the total cost of financing expressed as an annualized rate. The bill would authorize a provider who offers financing that is factoring or asset-based lending to, in lieu of those disclosure requirements, provide an alternative disclosure that meets specified requirements, including that the disclosure may be based on an example of a transaction that could occur under the general agreement for a given amount of accounts receivables.”
https://leginfo.legislature.ca.gov/f...01720180SB1235
Why would a cash advance company have a problem meeting that requirement?
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09-13-2018, 05:07 PM #7Karen37aGuest
It depends on what metric they use for annualized rate....they want to use APR and it isn't an apr...apr is with a loan, not an advance so you are confusing people and turning it into a loan giving me more liability
So until i train those people...SAY NO. block it
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