Merchant Cash Advances (MCAs)
Raiser and Kenniff, P.C. Is Your Trusted MCA Attorney in NYC
Merchant cash advances (MCAs) are a form of alternative financing designed for businesses needing quick access to capital. Unlike traditional loans, MCAs provide a lump sum of money in exchange for a percentage of future sales or receivables. This arrangement allows businesses to repay the advance through a portion of their daily credit card and debit card sales.
The repayment process is automated and proportional to the business’s revenue stream, making it flexible and easier to manage during periods of fluctuating income. This type of financing is prevalent among small to mid-sized companies that may face challenges obtaining conventional loans due to credit issues or a lack of collateral.
For experienced MCA defense or MCA debt settlement guidance, contact Raiser and Kenniff, P.C. online or dial (888) 646-0025. Our attorneys are ready to assist clients in all 50 states.
Risks Associated with MCA
While merchant cash advances can provide quick capital, they come with significant risks that businesses should carefully consider. One primary concern is the lack of federal regulation, which can lead to less transparent terms and potential exploitation.
- Other risks associated with merchant cash advances include:
- High overall costs: MCAs often come with high fees and interest rates, making them more expensive than traditional loans.
- Cash flow issues: The daily repayment model can strain a business’s cash flow, particularly during slow sales periods.
- Risk of default: Failing to meet repayment terms can result in severe penalties and legal action.
- Confusing terms: The lack of standardization in agreements can make it difficult to fully understand all terms and conditions.
Despite the absence of federal oversight, New York has implemented regulations to provide more transparency and protection for businesses seeking MCAs. These regulations require clearer disclosure of terms and ensure that businesses are better informed before entering into MCA agreements.
Why We're the Right Choice
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Raiser and Kenniff, P.C. is here to help you get the results you need with a team you can trust.
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Personalized Legal StrategyWe don’t believe in one-size-fits-all solutions. Every case is handled with a custom legal approach tailored to your goals, your circumstances, and your future.
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We offer a risk-free evaluation of your case and are here to help you understand your legal options. We are available 24/7, day or night, to help you.
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Top-Rated Team
Nationally recognized for results. Our attorneys have been ranked among the best in the U.S., Trusted for their strategy, skill, and relentless client advocacy
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Former ProsecutorsOur founding partners are both former New York prosecutors who bring unique experience and insights to every case, especially when it comes to going to trial.
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Read Our Client Testimonials
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"They were always available quickly, to address my concerns. Having dealt with some law firms before, I really appreciated this."
Steven Raiser's law firm handled my case with excellence throughout the process. I had a SBA EIDL loan that got transferred to the Department of Treasury unexpectedly, and had a 30% penalty added to the amount due, and due very quickly, which was very stressful. After talking with Steven Raiser, and working with Harry Gill, who was absolutely brilliant in working with me and preparing the case, they were able to recall the case to the SBA. They were always available quickly, to address my concerns. Having dealt with some law firms before, I really appreciated this.
Very grateful and appreciative to Steven Raiser and Harry Gill. Great work- Harry -
They treated me wonderfully and helped me out of a bind. I feel that this firm really cares.- Michelle A.
Fighting Against Predatory MCA Lending Practices
Another critical area in which we assist our clients in dealing with MCA debt is by helping them fight back against predatory MCA lending practices. Our experienced attorneys work tirelessly to identify and address unfair and deceptive practices that lenders may employ, helping our clients protect their businesses from exploitation.
Some signs that you may have been the victim of a predatory MCA lender include:
- Excessively high interest rates and fees
- Lack of transparency in terms
- Urgent and aggressive pressure to accept the offer quickly without time for proper review.
- Unexpected additional costs that were not clearly disclosed upfront.
- Unreasonable repayment demands
Our NYC-based MCA attorneys understand merchant cash advances' benefits and inherent risks. Additionally, as a firm that provides nationwide debt settlement representation, we are well-versed in how MCA regulations are changing across the country. We are driven to provide our clients with the reliable, informed representation they need to make important financial decisions confidently.
If you believe you were the victim of a predatory or illegal MCA in New York or another state, reach out to our firm online or call (888) 646-0025. We are ready to assess your situation and help you find a way forward.
