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12-26-2020, 08:35 AM #1Senior Member
Reputation points: 84416
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,947
Regardless of what some politicians believe they are accomplishing an MCA Contract is NOT a loan -
A funder is PURCHASING An Asset "Future Sales (Receivables) - $100,00 of your future sales and for that we are giving you $$
upfront money today - $70,000 - A Discount is not nor ever will be an APR.
BTW - California has a similar Law - it does not make a difference to the merchant -Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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