[CO1]

http://touch.latimes.com/#section/-1/article/p2p-78588050/

[CO1]

http://www.americanbanker.com/issues/178_240/new-york-ag-slaps-chicago-auto-title-lender-1064353-1.html

[CO1]

http://www.crowdfundinsider.com/2013/12/27901-watch-lending-club-ceo-renaud-laplanche-testifies-house-committee-small-business/

Very interesting video

[Chambo]

The main issue her eis these are personal loans, as opposed to business purchases (which MCA contracts are skillfully and cleverly worded as).

the only issue is if one of these zealots in the State decides that these "Purchase of Receivables" contracts are de facto loans (which they already did in California)

All these brokers out there charging these extra fees could be forced to reimburse the merchants along with the funds that charged the 1.48's too....

All a matter of interpretation and direction of resources

[jbrown]

No kidding. I think they first go after the funders (and their brokers/agents) that have as their primary model to stack 3/4/5x on a business and are taking 30-40% of their revenue. If I were an agent/ISO of those companies I sure wouldn't be on these forums looking for who will take a 4th position on a deal.

If you have deep pockets you can fend off the zealots - we did it successfully in CA on our MCA product - because it is B2B.

The main issue her eis these are personal loans, as opposed to business purchases (which MCA contracts are skillfully and cleverly worded as).

the only issue is if one of these zealots in the State decides that these "Purchase of Receivables" contracts are de facto loans (which they already did in California)

All these brokers out there charging these extra fees could be forced to reimburse the merchants along with the funds that charged the 1.48's too....

All a matter of interpretation and direction of resources

[Sean Cash]

http://www.crowdfundinsider.com/2013/12/27901-watch-lending-club-ceo-renaud-laplanche-testifies-house-committee-small-business/

Very interesting video

here's the text transcript: http://smallbusiness.house.gov/uploa..._testimony.pdf

The guy actually uses the term merchant cash advance in his testimony to the members of the House of Representatives and not necessarily in a good way. This may be the first time Congress has ever heard the term before. He does say this though:

"While traditional sources of capital have pulled back, alternatives are on the rise. Alternative lenders such as online lenders and merchant cash advance providers are the fastest growing segment of the SMB loan market recording a 64% growth in originations in the last 4 years."