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07-11-2024, 12:31 PM #6
- Join Date
- Feb 2017
- Posts
- 3,450
An MCA is not a loan, otherwise they would be illegal and usurious.
This has been the case law time and time again in NY.
Don't believe anyone on this board? Believe this lawyer:
https://www.thelangelfirm.com/debt-c...r-from-loans-/
There's no "borrowing" but it's "expected" to be paid back, but it's not technically guaranteed to be paid back. A loan carries with it a guaranteed set payback with real terms, not discount rates etc.
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