Answers That Count - Hosted By Charles Musgrove
Business:Management
Merchant Cash Advance debt is an indication that a company has cash flow problems. MCA is normally the last alternative for financing. The MCA contracts do provide quick cash, they are easy to be approved and often times require both daily repayment and APR of over 200%.
On this episode, we we are joined by Marc Mellman, founder of MCA Stacking Solutions, for a discussion about how to get out of the rabbit hole of the MCA contracts, which often times the debtor will have multiple or 'stacked' MCA contracts. Marc talks about how New York is one of the states most favorable to the MCA contractor, and the most punitive to the debtor. This favorable preference is all based on how the contract is defined. Check it out to learn about this classification.
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