[Sean Cash]

Any thoughts on this from the MCA community?

The Innovative Lending Platform Association, in partnership with the Association for Enterprise Opportunity, is launching a pricing comparison tools initiative predicated on creating a model small business lending disclosure called SMART (Straightforward Metrics Around Rate and Total Cost) Box. The SMART Box will present a small business with a chart of standardized pricing comparison tools and explanations, including various total dollar cost metrics and an APR that enables an “all-in” pricing comparison of loans of equivalent duration.

And before every Johnny Cochrane chimes in and says a MCA is not a loan, I get it, but the MCA product is always compared to the daily ACH loan, I would have to imagine this could impact MCA, if not legally, reputationally.

http://finance.yahoo.com/news/nation...110100896.html

The part you bolded doesn't exist in the actual text. Nowhere does it say that an APR will be disclosed. It alludes to the inclusion of annual percentage rate "metrics" which could be certain itemized costs which may be able to be explained in annualized terms. I know that every major news media outlet had a brain explosion today in announcing that this was all about APR disclosures. Nothing in the actual announcement says that. I reached out to the companies about this nuance this morning and lo and behold they are still "preparing" their answers. Doesn't mean they didn't mean APR, but they clearly did not say what every news outlet thinks they said.