Smart Box Contracts
Need a Funder or Vendor? START HERE

Results 1 to 17 of 17

Hybrid View

  1. 02-18-2020, 03:50 PM #1
    Chambo
    Chambo is offline
    Veteran Reputation points: 135672 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,189

    Quote Originally Posted by Mynameisbob View Post
    Great point. I believe as long as you’re disclosing the APR to the merchant they can’t really sue. I’m not a lawyer just my thoughts.
    If you are disclosing APR, then you are categorized as a loan and can get sued for usury.
    Reply With Quote Reply With Quote
  2. 02-18-2020, 05:15 PM #2
    SFC
    SFC is offline
    Senior Member Reputation points: 91418
    Join Date
    Sep 2019
    Posts
    402

    Quote Originally Posted by Chambo View Post
    If you are disclosing APR, then you are categorized as a loan and can get sued for usury.
    Thank you! That's my point, either its a LOAN or an MCA! You CANNOT have it both ways.
    Reply With Quote Reply With Quote
« Previous Thread | Next Thread »

Similar Threads

  1. Smart Biz but no dollar cap
    By freeprocessing in forum Merchant Cash Advance
    Replies: 9
    Last Post: 02-05-2020, 09:54 AM
  2. Fundera vs Smart Biz
    By Wheetie in forum Merchant Cash Advance
    Replies: 3
    Last Post: 11-22-2019, 08:41 AM
  3. Nothing smart about Smartbiz
    By skideeppow in forum Merchant Cash Advance
    Replies: 20
    Last Post: 02-15-2018, 06:16 PM
  4. The Smart or The Dead- Which one will you be? Be Smart With A.I. Assist!!!
    By ChuckM in forum Promotions
    Replies: 0
    Last Post: 05-10-2017, 11:09 AM
  5. SMART Box Initiative
    By BankComplianceGuy in forum Merchant Cash Advance
    Replies: 8
    Last Post: 05-06-2016, 12:48 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules



INDUSTRY ANNOUNCEMENTS
Lendistry welcomes new CFO
LegalZoom partners w/ businessloans.com
iBusiness Funding acquires Funding Circle

DIRECTORY