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New York MCA Final Disclosure Laws

DO ANY REGULATIONS EXIST THAT GOVERN A MERCHANT CASH ADVANCE?

  • New York State, by all accounts the haven State for Merchant Cash Advances, ironically is also one of the first States to enact laws that require certain consumer like disclosures even for several commercial loans.
  • This is significant development since New York’s Commercial Finance Disclosure Law (CFDL) went into effect August 1st, 2023 and in the law the CFDL has extended disclosure requirements ordinarily required for consumer lending to commercial financing instruments such as a merchant cash advance.
  • The laws apply equally to both


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