[BankComplianceGuy]

Interest rates (along with their associated APRs) are associations of loan transactions, which have fixed payments and fixed terms. There's no fixed payment nor fixed term with a merchant cash advance transaction (legally), even though in a lot of ways "we" sell it as such.

There's always an implicit interest rate. A transaction that involves a stream of payments extending over multiple future periods must incorporate an interest rate, even if there is no rate stated in the related business contract. This is also the most acceptable way for merchants to record and deduct this as an interest expense on their tax returns. This is the way its been done for decades with leasing.