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  1. #1

  2. #2
    Senior Member Reputation points: 81655
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    Will this reduce the number of companies doing business in NY?
    Reduce access to access to small business owners?
    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

  3. #3
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by Yankeeman07 View Post
    Will this reduce the number of companies doing business in NY?
    Reduce access to access to small business owners?
    The biggest question I have is who does this apply to. Lenders based in NY, Brokers based in NY or merchants based here. Depending on the answer to this question will determine if this is a small blow or a huge blow to the industry. Only thing I am sure about is the only people who are benefiting from this are contract lawyers who have to try and make sense of this law and explain it to companies.
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  4. #4
    Senior Member Reputation points: 337045
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    Quote Originally Posted by Yankeeman07 View Post
    Will this reduce the number of companies doing business in NY?
    Reduce access to access to small business owners?
    No-The smart players in the industry will adapt to the regulations and stay in front of any changes coming down the pipe. This will add to costs of operations in a very competitive market. Those whom have access to cheap cost of funds and who are smart and nimble enough to change with regulations will actually thrive because of the changes.

    It's the evolution of capital markets. If you don't adapt to regulatory changes you will get run over. If you stay ahead of the changes and have the ability to scale you win.
    Hedley Lamarr......That's Hedley

  5. #5
    This thing is ridiculous. The 45 page documentation even specifies what size font Times New Roman you have to use on the contract. lol unreal

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