All Business Lending & Fintech

Community note - MCA contracts lacking a Reconciliation clause are vulnerable in court.

https://rcbizjournal.com/2023/12/06/usurious-loans-or-legitimate-merchant-cash-advances-courts-to-decide/

Ruling from late last year, out of the state of New York, classifying MCAs as Usurious loans (illegal) 

This doesn't necessarily mean they'll stop writing MCAs in NY, but the contract language and terms will probably adapt. It's just good to know what's going on in the industry.