MCA Agreement

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• Do the majority of your business revenues go towards daily ACH payments?
• Did you personally guarantee your MCA loan?
• Did the funder make you sign a COJ / Confession of Judgment or Agreed Judgment?
• Is there a UCC filed against your business?
• Are you paying a fixed amount on your MCA loan despite a change in your business cash flow?
• Are funders, their attorneys or collection agencies calling, texting and harassing you?
• Does your Credit Card Terminal have a lock box?
• Do you need to change your MCA repayment schedule to monthly payments from daily?
• Are your business or individual bank accounts frozen?
• Have your clients or vendors been contacted by your Merchant Cash Advance funder?
• Did you attempt to restructure payments to the Merchant Cash Advance funder due to a fluctuation in your sales volume and revenues? Was it granted?
• Were you asked to put up any personal collateral like your residential home?
If you answered yes to any of these questions, contact Grant Phillips Law, PLLC helping California based Merchants. A law firm focusing on settling Merchant Cash Advance loans for clients across all 50 States. Merchant Cash Advance Attorney California. Grant Phillips Law, your Merchant Cash Advance Attorneys California. Let us review your MCA contract for illegalities. Let’s settle your Merchant Cash Advance loan with your MCA Funder.
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Did you know?
New York (the epicenter of MCA) enacted a law in September 2019 banning New York Funders from issuing a Confession of Judgment to an out of State borrower like a California Resident. For example a borrower from California takes out an MCA from a New York based MCA funder, that funder cannot issue the California based borrowing merchant a Confession of Judgment / COJ.
• Did you sign a Confession of Judgment?
• Did you sign a legal document called an “Agreed to Judgment?”
Contact the Attorneys at Grant Phillips Law, PLLC. Your Merchant Cash Advance Attorneys California to preserve your legal rights, enforce those rights and protect you and your business.
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California Merchant Cash Advance Law:
On August 31, 2018,the California Senate and Assembly passed SB 1235. On September 30, 2018, Governor Brown signed it into law.
The law added a new Section to the California Financing Law (CFL). The CFL generally covers both consumer and commercial lenders. Although the new law does not require Merchant Cash Advance providers to be licensed in California, it is still newsworthy because the new law now includes providers & funders of commercial, non-loan financing options like a Merchant Cash Advance loan into the purview of the California Financing Law.
In time, many feel that the CFL will require Merchant Cash Advance funders to be licensed.
Nevertheless the law does require a funder offering a form of “commercial financing,” of $500,000 or less to a merchant / borrower, must now provide the Merchant with a Cost Disclosure Statement before completing the transaction. The law requires the Merchant borrower to sign the Cost Disclosure Statement.
Interestingly the new California Law refers to “commercial financing,” meaning the loan or financing is for a corporate / commercial purpose. However, the law does not require a funder to confirm the funds were in fact used for an actual commercial purpose.
The Cost Disclosure Statement must state clearly the amount financed, the total costs involved, the length of time, the frequency and amount of payments to be made as well as state clearly the method of how payment is made, an explanation of pre-payment consequences, and state the total cost of the financing as an annualized percentage rate.
Are you a California resident? Send Grant Phillips Law your Merchant Cash Advance contract for a free legal review and analysis for compliance with California law. GPL, your California Merchant Cash Advance Attorneys. Fighting, Settling and Litigating for Merchants across California and the entire United States.
Unfortunately the new law does not provide guidance on the disclosures as it related to their definitions, what they should contain from a content perspective, nor does it describe the methods for calculating the items requiring disclosure as well as not describing the manner, time structure and format of the disclosures.
Frustratingly, the new California law turns over the duty to provide specific guidance and to create regulationsgoverning the disclosure requirements to the California Commissioner of Business Oversight (known as the DBO).
The experienced and compassionate lawyers at Grant Phillips Law can help you evaluate your Merchant Cash Advance contract for strict compliance with the new California Law. Merchant Cash Advance Attorney California – Here for you and your business. You have worked exceedingly hard to build your business. You have put in countless time, effort and money. You have provided support, knowledge and experience and helped provide and support jobs, all while trying to earn a living for your family. Do NOT let a predatory loan disguised as a “purchase of accounts receivables” destroy your revenues and business with daily payments at predatory and abusive interest rates.
If you need a Merchant Cash Advance Attorney California, contact our law firm. We offer a free no obligation review of your deal and your Merchant Cash Advance contract. 10 years of experience fighting, settling and litigating Merchant Cash Advance loans. To get the best, you must come to the best. Grant Phillips Law has a dynamic team of lawyers with the necessary knowledge, experience and expertise to help you get out from burdening Merchant Cash Advance positions. Grant Phillips Law focuses exclusively on Merchant Cash Advance law protecting merchants and borrowers. 10 years and counting. We have saved our clients millions of dollars. Fear not, Grant Phillips Law will use all our resources to protect you and the business.
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Did you know?
Twenty Three (23) year ago information about Merchant Cash Advance loans became available and publicly accessible. Specifically,an individual by the name of Barbara S. Johnson is listed as the official inventor of split-funding, a system that allows for automatic loan repayment to the funders from a single credit card processor shared with the Merchant. Ms. Johnson obtained a Patent for this system in 1997. Her story is fascinating. Johnson was running four Gymboree Playgroup & Music franchises. Unable to get working capital to fund a summer marketing campaign, she wondered whether she could borrow against future credit card sales derived from parents bringing their kids back for fall classes. About a year later,Johnson and her husband founded Advance Me, a MCA Funder. Her Patented technology allowingfor the splitting of credit card sales was a major step in the birth and growth of the MCA world. Later her company would become CAN Capital.
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Did you know?
The interest rate or effective APR is so excessive and in turn profitable for Merchant Cash Advance funders that large publicly traded companies have also entered the Merchant Cash Advance arena. Some examples include Shopify, Square, PayPal and even American Express. There are also major investment banks like Morgan Stanley backing several funders and hedge funds.
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Did you know?
The attorneys at Grant Phillips Law, PLLC have seen cases where the effective APR on a Merchant Cash Advance was in excess of 1,200%
If you Merchant Cash Advance position is eating away at your business cash flow and revenues, don’t hesitate to contact California Merchant Cash Advance Attorney Grant Phillips Law, PLLC – serving clients in California and across all 50 States. Merchant Cash Advance Attorneys.

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Did you know?
In California State there is no licensing requirement to become an MCA lender or broker! Some States are beginning to take a look at this, but at present no background checks, licensing, bond requirements or laws exist, to govern the creation of a Merchant Cash Advance funder and or broker.
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You have questions: We have answers.
• Is my bank account safe during settlement negotiations?
• What is the Legal Representation fee?
• Can you handle a settlement with any funder?
• Do the lawyers at Grant Phillips Law review and inspect each contract and all accompanying paperwork for flaws, illegality or unreasonable clauses?
• Will the funder continue to ACH my account during settlement negotiations?
• Will the hiring of Grant Phillips Law end the phone calls, texts and constant harassment?
• Should I change my credit card processing machine?
• Should I switch my bank account?
• What can I do during settlement negotiations?
• How long does a settlement take?
• Will a settlement show on my credit?
• My funder is contacting my clients and receivables, will a settlement put a stop to it?
• Is the law firm of Grant Phillips Law equipped to tackle any funder?
• Can Grant Phillips Law represent me if I am a resident in a State out of California? Can you put an end to daily payments?
• Are you able to put me into a Monthly payment plan?
• Can you lower my principal?
• What if I payoff my loan early?
• How does a settlement work when I have multiple or stacked positions?
• Does Grant Phillips Law obtain a formal Stipulation of Settlement Agreement documenting the settlement?
• What happens to my Merchant Cash Advance loans if I file bankruptcy?
• What happens to the personal guarantee when a settlement is reached?
• If a Judgment has already been filed against my business and I, can it be vacated?
• What is a reconciliation? How does it help me? Will it lower payments?
For answers to these questions and any other you may have, don’t hesitate to contact the Merchant Cash Advance California attorneys at Grant Phillips Law, PLLC. A specialized Merchant Cash Advance Law Firm, serving residents of California. Let us take the stress and sleepless nights away and help you get your business back on track. You have put in time, money, equity, experience and knowledge into building your business. It feeds you, supports your family, creates jobs and as such is worth fighting for. Let Us Help You! Grant Phillips Law, Merchant Cash Advance Attorney California
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Can Grant Phillips Law help me with my MCA positions?
Yes, Grant Phillips Law has successfully negotiated settlements with most of the Merchant Cash Advance funders existing throughout the United States. Our law firm has settled Merchant Cash Advance loans with virtually every funder, big to small, located in California or in a different State, large loan balances to small payoff amounts and everything in between, Grant Phillips law has seen it and settled it. Merchant Cash Advance Attorney in California.
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Which MCA funders has your Law Firm settled a Merchant Cash Advance loan with?
The following is a sample list of many of the funders Grant Phillips Law have negotiated with successfully. Please note: if you do not see your specific funder listed, it is still very likely that we have negotiated and settled a Merchant Cash Advance loan with them but they are not listed here because this list is only a sampling of Merchant Cash Advance funders we have worked with: