[Nunya]

SmartBox

Do any of the SmartBox lenders do MCAs?

[Karen37a]

Do any of the SmartBox lenders do MCAs?

They want everyone to comparison shop against them like we are fking morons...look at our low rate

And this is how my character assassination crap got started


because I wouldnt go along/...now that they know me longer....guess I wont bow down and kiss someones arse

[Cfairbank]

Do any of the SmartBox lenders do MCAs?

Yes, there is a SmartBox that is used for MCA deals (that includes effective APR) and it is used by cash advance companies in the ILPA, including one of the last “bigger players” to still offer MCAs in the space. There is a different smart box for loans.

[Karen37a]

Yes, there is a SmartBox that is used for MCA deals (that includes effective APR) and it is used by cash advance companies in the ILPA, including one of the last “bigger players” to still offer MCAs in the space. There is a different smart box for loans.

Carl.

Putting Apr on MCA contracts and factoring not loans sets you up for automatic defaults and lawsuits.

I've said this over and over again. You don't want to stop and like a chess game, move the pieces forwards in your mind, then that's that.


If you get to court you can't argue an invalid contract. Merchant Cash advance companies have been going to court to defend the position that "it is not a loan it is an advance" therfore it is not usury. Also Defending the COJs.

Merchant cash advance has no set payback time ...therefore blah blah

You now are going to invalidate those arguments and its usury OR they stand and its and invalid contract therefore void

Someone is going to argue breach of contract and someone smart is going to turn right around and argue that the contracts were illegal or confusing therefore not enforceable.

Courts have time and time again said: " if the contract resembles a loan then it is one".


( and I know these things because of Venture Capital. Structuring different types of Deals that are NOT loans since the 80s)


We can see going forward who is right and who is wrong ( I do not like going into something from a 90%-100% failure position)

Stare Decisis