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Harris County Civil Court: Actions Taken on March 11

Harris County Civil Court: Actions Taken on March 11
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Florida Court Affirms That Merchant Cash Advance Product Not Subject to Usury Statute | Bradley Arant Boult Cummings LLP


[co-author: Shelby Lomax]
This month, a Florida appellate court held that a merchant cash advance (MCA) purchase and sale agreement was not a “disguised loan” and, therefore, was not subject to Florida’s criminal usury statute. MCA purchase and sale agreements, which offer merchants a fast and efficient way to obtain funding for their operations, are not loans. Rather, these agreements constitute the purchase of a merchant’s future receipts by the MCA company. However, some merchants have claimed that MCAs are “disguised loans” subject to their respective states’ usury law. While several states have well-developed case law differentiating loans from the purchase and sale of receivables, Florida suffers from a relative lack of authority on the issue. Fortunately, in ....

United States , Craton Entertainment , Merchant Capital Group , Bradley Arant Boult Cummings , Florida Third District Court , Third District Court , Capital Group , Merchant Capital , ஒன்றுபட்டது மாநிலங்களில் , க்ரெடந் பொழுதுபோக்கு , வணிகர் மூலதனம் குழு , பிராட்லி அரண்ட் பவுல்ட் கம்மிங்ஸ் , புளோரிடா மூன்றாவது மாவட்டம் நீதிமன்றம் , மூன்றாவது மாவட்டம் நீதிமன்றம் , மூலதனம் குழு , வணிகர் மூலதனம் ,