Cash advance – Vivenavalmoral http://vivenavalmoral.com/ Mon, 27 Jun 2022 13:00:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://vivenavalmoral.com/wp-content/uploads/2021/10/icon-12-120x120.png Cash advance – Vivenavalmoral http://vivenavalmoral.com/ 32 32 What is a merchant cash advance loan? https://vivenavalmoral.com/2022/06/27/what-is-a-merchant-cash-advance-loan/ Mon, 27 Jun 2022 13:00:25 +0000 https://vivenavalmoral.com/2022/06/27/what-is-a-merchant-cash-advance-loan/ If you buy something through our links, we may earn money through our affiliate partners. Learn more. Believe it or not, merchant cash advance (MCA) business loans are a great option for small business owners looking for quick and easy access to capital. They are an ideal financing solution for businesses that have been turned […]]]>

If you buy something through our links, we may earn money through our affiliate partners. Learn more.

Believe it or not, merchant cash advance (MCA) business loans are a great option for small business owners looking for quick and easy access to capital. They are an ideal financing solution for businesses that have been turned down for a traditional bank loan or don’t have time to wait for a business loan to be approved.

So what exactly is an MCA and how can it help your business? Keep reading to learn more.



What is a merchant cash advance loan?

A merchant cash advance loan is a type of financing that allows businesses to borrow money based on future credit card sales. The loan is repaid with a percentage of the company’s monthly credit card sales, making repayment easy and flexible.

Are merchant cash advances right for your business?

To qualify for a merchant cash advance, you will need to have credit card sales. The amount of money you can borrow will depend on your sales volume. Plus, you won’t need to have a business bank account to qualify. One of the biggest benefits of an MCA is that it can provide much-needed cash flow to your business.

Best Cash Advance Companies for Merchants

It can be difficult to find reputable cash advance providers for business loans. That’s why we’ve put together this list so you can find the best merchant cash advance company.

1. Fast Funding

With merchant cash advance provider Rapid Finance, you can get small business loans between $5,000 and $500,000 as long as you have a credit score of 550, have been in business for at least three months and you have $5,000 in monthly credit card sales.

2. Term financing

To obtain a loan between $5,000 and $300,000 with term financing, you will need at least $10,000 in monthly income and a credit score of 500+.

3. PayPal working capital

PayPal Working Capital is for select sellers who have had a Business or Premier account for at least three months. You can borrow up to $97,000 on your first advance without a credit check.

4. Capital CAN

To qualify for a loan from CAN Capital, you must have been in business for at least six months with an annual income of $150,000. You can borrow between $2,500 and $250,000 and receive funds in two business days.

5. Fundera by Nerdwallet

The qualifications to receive Fundera small business loans are a 550+ credit score, an annual income of $180,000 and a minimum of 2 years of time in business.

6. Funding Dependent

Reliant Funding will lend you up to $400,000 provided your business has been in operation for at least six months and averages $10,000 in monthly sales.

7. Libertas Funding

If you have been in business for at least six months, have an annual income of $150,000, and have a credit score of 550, Libertas Funding will lend you $7,500 to $1 million.

8. Credible

Credibly, it will lend you up to $400,000 as long as you have a credit score over 500, have been in business for at least six months, and have $15,000 in monthly sales.

Merchant Cash Advance Requirements

Here are the conditions required to obtain an MCA loan, which are less strict than traditional loans:

  • Business Activities – You must have been in business for at least six months. This requirement is flexible, as some merchant cash advance companies will work with startups that have been up and running for three months.
  • Credit Card Transaction Volume – You must have a minimum monthly income of approximately $5,000. This requirement is also flexible since some lenders will work with businesses that have a lower volume but may charge a higher interest rate.
  • Credit Score Requirements – You must have a personal credit score of 500 or higher. Some lenders will work with borrowers who have a lower score, but this may increase the interest rate on your loan.
  • Repayment Method – You must agree to repay the loan by a percentage of your daily credit card sales. This is usually done through an automated redemption system, so you don’t have to worry about making manual payments.
  • No Red Flags – You must not have major financial issues, such as bankruptcy or foreclosure. If you are in financial trouble, you may still be able to get an MCA loan, but again the interest rate will be higher.

Benefits of taking a business cash advance

Cash flow is the lifeblood of any business, and business loans can give you the boost you need to move your business forward. Here are five benefits of taking out an MCA loan:

  • Flexible spending – You can use the money for business purposes, whether it’s buying inventory, hiring new staff, or covering unexpected expenses.
  • Fast Funding – You can get the money you need in as little as 72 hours, which is much faster than traditional bank loans.
  • Easy repayment – You can repay the loan with a percentage of your daily credit card transactions, so you don’t have to worry about fixed monthly payments.
  • No Collateral Required – You don’t need to post collateral to qualify for a merchant cash advance, so it’s ideal for businesses that don’t have any assets.
  • Bad credit? No problem – You can still qualify for a cash advance even if you have bad credit.

Disadvantages of taking merchant cash advance loans

While these loans can provide a much-needed cash injection, there are also some potential downsides that business owners should be aware of.

  • Can be expensive – An MCA loan is based on your daily sales, which means you’ll pay a higher percentage of your credit card payments on sales in interest and fees than with other types of loans.
  • Not Federally Regulated – MCA loans are currently not federally regulated, which means there is no industry standardization.
  • Repayment terms can be rigid – MCA loans usually have to be repaid within 6-18 months. If you are unable to make your payments on time, you may be charged additional fees or your loan may be sold to a collection agency.

What is a merchant cash advance used for?

A merchant cash advance is a type of financing that allows a business owner to borrow money based on future sales.

The amount that can be borrowed varies by lender, but is usually a percentage of the company’s monthly credit card sales.

Are merchant cash advances a good idea?

Merchant cash advances can be a good option for businesses that need funding quickly and don’t have access to traditional forms of financing.

However, merchant cash advances can also be expensive and can strain a business’ cash flow.

What is a merchant cash advance agreement?

It is an agreement between a company and a lender in which the lender provides the company with a sum of money up front in exchange for a percentage of future sales.

This arrangement is typically used by businesses that have difficulty qualifying for traditional loans.

Image: Envato Elements


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Obtain a cash advance of Rs 10,000 at an out-of-network hospital. Edelweiss General Insurance launches a new plan https://vivenavalmoral.com/2022/06/13/obtain-a-cash-advance-of-rs-10000-at-an-out-of-network-hospital-edelweiss-general-insurance-launches-a-new-plan/ Mon, 13 Jun 2022 09:22:18 +0000 https://vivenavalmoral.com/2022/06/13/obtain-a-cash-advance-of-rs-10000-at-an-out-of-network-hospital-edelweiss-general-insurance-launches-a-new-plan/ Health Insurance Cash Advance: Edelweiss General Insurance today (June 13) announced the launch of an “Out-of-Network Cash Advance” feature to assist customers with monetary support at any hospital that is not part of the EGI network. As a general rule, insured persons must pay out of pocket for treatment in out-of-network hospitals. However, the insurer […]]]>

Health Insurance Cash Advance: Edelweiss General Insurance today (June 13) announced the launch of an “Out-of-Network Cash Advance” feature to assist customers with monetary support at any hospital that is not part of the EGI network.

As a general rule, insured persons must pay out of pocket for treatment in out-of-network hospitals. However, the insurer said in a statement that the new cash advance facility will provide up to 10,000 rupees to clients to cover admission fees or other expenses while in hospital. The advance will be adjusted at the time of the claim.

The insurance company further stated that the launch of this service was based on the insights gained from qualitative research conducted by EGI in 4 cities of Mumbai, Delhi, Bengaluru and Kolkata.

Research has been undertaken for a better understanding of clients’ pain points during medical emergencies. The results revealed that customers are demanding real cashless benefits, not just refunds, the company said in the release.

READ ALSO | Home Insurance Checklist Before Monsoon 2022

Commenting on the launch of the new facility, Shanai Ghosh, Executive Director and CEO of Edelweiss General Insurance (EGI), said: “Based on our extensive research, we have observed that in the event of an emergency, customers s expect their insurance provider to provide support when and where they need it. With the aim of providing innovative solutions to our customers, we launched our instant cashless service in March 2022. In line with our vision to make insurance simple, user-friendly and transparent, we try to take a step forward through our Out-of-Network Cash Advance. »

Steps for Out-of-Network Cash Advance

Be admitted to the nearest available hospital
Intimate EGI Customer Service Team on Toll Free 180012000 select option 2 and share full medical details of the case
EGI’s claims team immediately springs into action and connects with the hospital
Depending on the case and the terms of the policy, EGI will endeavor to provide a cash advance facility for eligible claims.

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Who needs the Merchant Cash Advance keyword anyway? https://vivenavalmoral.com/2022/06/01/who-needs-the-merchant-cash-advance-keyword-anyway/ Wed, 01 Jun 2022 03:54:23 +0000 https://vivenavalmoral.com/2022/06/01/who-needs-the-merchant-cash-advance-keyword-anyway/ ANearly five years since Google banned its search engine from displaying ads when queries contain the phrase “cash advance,” the loss of business attributed to this has likely been nil for the small business financial space. businesses. According to Google, although there are between 100,000 and 1 million searches for “cash advance” […]]]>



ANearly five years since Google banned its search engine from displaying ads when queries contain the phrase “cash advance,” the loss of business attributed to this has likely been nil for the small business financial space. businesses.

According to Google, although there are between 100,000 and 1 million searches for “cash advance” each month on average, only 1,000 to 10,000 searches per month are specifically for “merchant cash advance“.

People are about 10 times more likely to search business line of credit, Business loan, working capitalWhere business credit cardaccording to Google estimates.

This is somewhat in line with the findings of the Federal Reserve, a recent study of which determined that 7 times more business owners seek out a loan or line of credit than they seek out a merchant cash advance.

But putting that aside, the ban on paid advertising for anything related to cash advances has had an advantage for some lucky companies. Without advertising, Google has inadvertently (or perhaps intentionally) elevated local searcher funding providers to the top of the organic results. This means that listings on Google Maps that contain keywords that match search queries reap the benefits of being prominently placed at the top of the page and potentially capture all clicks with it. The end result is an old-school SEO war to win what little research there is.

Compare that to a search for sba loan where paid advertising is fair game. In the era of PPP and EIDL, it’s perhaps unsurprising that there are on average between 100,000 and 1 million searches per month for this keyword. Many of these searchers probably won’t qualify for an SBA loan, so perhaps the best solution would be equipment leasing or invoice factoring, two queries that are on par with merchant cash advance in average monthly searches, which means the volume is relatively low.

But how does a low volume of research translate into a high volume of generated funding? Well, another factor has changed since Google implemented the cash advance advertising restriction in 2017, and that is that Google isn’t as relevant as it used to be. Business owners are more likely than ever to discover a potential source of capital from social media or a fintech platform they already have a relationship with. According to a recent study, 25% of people said they had actually used Alexa, Siri or another voice assistant to find information about financial services, signaling a major departure from the way traditional search was done.

All of this means that restricting paid advertising to a niche keyword on Google is unlikely to make any difference overall. Chances are, you might not even know this restriction existed. Bing, on the other hand, has no qualms with cash advances and allows paid advertising on them.

Last modification : May 31, 2022







Sean Murray

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Zahid: Giving a cash advance of RM1.3m to the police football club is in line with the charity’s aims to help the needy; it’s not CBT https://vivenavalmoral.com/2022/05/25/zahid-giving-a-cash-advance-of-rm1-3m-to-the-police-football-club-is-in-line-with-the-charitys-aims-to-help-the-needy-its-not-cbt/ Wed, 25 May 2022 07:00:00 +0000 https://vivenavalmoral.com/2022/05/25/zahid-giving-a-cash-advance-of-rm1-3m-to-the-police-football-club-is-in-line-with-the-charitys-aims-to-help-the-needy-its-not-cbt/ KUALA LUMPUR, May 24 – Former Home Minister Datuk Seri Ahmad Zahid Hamidi said today that he did not commit a criminal breach of trust (CBT) when he gave 1.3 million of RM of funds from Yayasan Akalbudi as a cash advance to the Police Football Association. Ahmad Zahid argued that this was because his […]]]>

KUALA LUMPUR, May 24 – Former Home Minister Datuk Seri Ahmad Zahid Hamidi said today that he did not commit a criminal breach of trust (CBT) when he gave 1.3 million of RM of funds from Yayasan Akalbudi as a cash advance to the Police Football Association.

Ahmad Zahid argued that this was because his advance of these funds to the police football association was in line with the aims of the Yayasan Akalbudi charity fund to help the needy.

Testifying in his own defense at his trial for allegedly committing a criminal breach of trust over the RM31 million of Yayasan Akalbudi’s funds entrusted to him, Ahmad Zahid sought to justify channeling the money from the social organization towards Royal Malaysian Police (PDRM) football. fellowship in 2015.

Ahmad Zahid explained that he had never made contributions to the PDRM football association before, but noted that the police were his responsibility when he was interior minister and he knew then that the he football association itself paid the monthly salaries and allowances of its players and staff.

Ahmad Zahid said his son-in-law Datuk Zul Hisham Zainal told him that this football association was in financial difficulty as four months of unpaid wages had prevented football players and staff from paying their personal expenses such as house rental , car and other needs.

Ahmad Zahid said he was also told that association players who are entirely dependent on the earnings received as full-time footballers, and he also believed that the welfare of the families of those players would be affected. because their wages had not been paid for four months. .

Ahmad Zahid said that the total salary of players and staff in the football association averaged around RM500,000-600,000 per month, and the unpaid salary for four months was around 1.3 million RM.

(Previously, Zul Hisham told the court that it takes about RM500,000-600,000 every month to pay the 30 football players and 15 executives of the PDRM Football Association).

“Therefore, I had advanced RM1.3m to the PDRM Football Association to help them cover these needs and their welfare,” Ahmad Zahid told the High Court today.

Ahmad Zahid verified a Yayasan Akalbudi check dated November 19, 2015 for RM1.3 million issued to the PDRM football association.

“I believe that this cash advance is in line with the objectives of Yayasan Akalbudi training, where this Yayasan has been created generally to help in terms of welfare to those in need,” he said.

Ahmad Zahid said that two other administrators of Yayasan Akalbudi – Muhammad Nabil Salleh and Datuk Khairuddin Tarmizi – were also aware of this matter, saying: “I stress that both of them never objected to this advance because it is in accordance with Yayasan’s goal.” Ahmad Zahid cited the previous testimony of his son-in-law Zul Hisham in this trial as the 19th prosecution witness, who allegedly said that the National Sports Council had refunded the cash advance when he had handed over a check for RM 1 million to law firm Lewis & Co on July 14, 2017.

Zul Hisham had previously agreed that the remaining RM300,000 of funds donated to the PDRM football association was a form of contribution to the needy.

Earlier, Ahmad Zahid’s lawyer, Hamidi Mohd Noh, argued that the payment of RM1.3 million from Yayasan Akalbudi’s funds to the football association PDRM was not a criminal breach of trust, saying that This was a “donation” permitted by the constitution of Yayasan Akalbudi’s society as he maintained. was to “eradicate the poverty” of footballers.

The lawyer had previously argued that such a “donation” is permitted because of the objectives of the Yayasan Akalbudi society’s constitution to help the poor containing this phrase: “to receive and administer funds for the eradication of poverty and to improve the welfare of the poor and to conduct research for poverty eradication programs and for that purpose”.

In this trial, Ahmad Zahid ― who is also a former deputy prime minister and currently chairman of Umno ― faces 47 charges, namely 12 counts of breach of trust in relation to funds of the Yayasan Akalbudi charitable foundation, 27 counts of money laundering, and eight counts of corruption.

For the 12 counts of the CBT, Ahmad Zahid is accused of having embezzled more than RM31 million from the funds of Yayasan Akalbudi, of which he was entrusted as a trustee of the foundation and of which he was also more later the only signatory for his checks.

The 12 CBT charges relate to the use of Yayasan Akalbudi’s funds, namely RM1.3 million via 43 checks for Ahmad Zahid and his wife’s credit card bills, RM107,509.55 via three checks for vehicle insurance and road tax for 20 private vehicles, a check for RM1.3 million to the police football association, a check for RM10 million for a loan to Armada Holdings Sdn Bhd, RM360,000 via two checks to political consultancy firm TS Consultancy & Resources, and more than RM17.9 million in funds transferred from Yayasan Akalbudi to law firm Lewis & Co.

Ahmad Zahid also today argued that the sum of RM10 million in December 2015 to Armada Holdings Sdn Bhd was an ‘investment’ by Yayasan Akalbudi and insisted that it was not a loan, claiming to have been informed by Armada Holdings director Datuk Wasi Khan @Wasiyu Zama Israr that the money would be placed in a fixed deposit and the RM10 million would be returned to Yayasan Akalbudi with a corresponding “return on investment” fixed deposit interest rates.

Ahmad Zahid said his close acquaintance Datuk Seri Khalid Mohamad Jiwa introduced him to Wasi Khan and was told that Armada Holdings needed paid-up capital of RM10 million to meet the minimum requirements to bid for a coal supply project.

Ahmad Zahid insisted that the RM10 million was not a loan but an investment as the money was paid in as paid up capital and returned to Yayasan Akalbudi when the ‘investment’ failed. not successful as Armada Holdings later failed to win the contract.

“Therefore, the money as paid-up capital which was used as an investment was returned with the sum following the fixed deposit industry rates,” he said, adding that Yayasan Akalbudi did not suffer. only one sense of loss on this alleged investment but had instead made a profit which could be used for charity.

Yayasan Akalbudi eventually received the RM10 million from Armada Holdings with interest of RM69,722.65 in February 2016.

Lawyers for Ahmad Zahid previously sought to explain his payment of RM10m by using Yayasan Akalbudi’s check to Armada Holdings as both a loan and an investment for the charitable foundation, as the company had repaid the 10m of RM with interest, but the prosecution had said that this company ended up doing not align with the charity’s goals of eradicating poverty.

Ahmad Zahid’s trial before High Court Judge Datuk Collin Lawrence Sequerah resumes tomorrow.

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British Sugar offers growers a 25% cash advance on the beet harvest https://vivenavalmoral.com/2022/05/24/british-sugar-offers-growers-a-25-cash-advance-on-the-beet-harvest/ Tue, 24 May 2022 09:52:00 +0000 https://vivenavalmoral.com/2022/05/24/british-sugar-offers-growers-a-25-cash-advance-on-the-beet-harvest/ Published: 10:52 am May 24, 2022 Update: 2:41 PM May 25, 2022 British Sugar has offered to pay farmers in East Anglia a 25% cash advance on their sugar beet crops to help them cope with crippling cost pressures. Arable farmers in the region have been hit by soaring fuel prices and quadrupling fertilizer prices […]]]>

Published:
10:52 am May 24, 2022



Update:
2:41 PM May 25, 2022

British Sugar has offered to pay farmers in East Anglia a 25% cash advance on their sugar beet crops to help them cope with crippling cost pressures.

Arable farmers in the region have been hit by soaring fuel prices and quadrupling fertilizer prices after war in Ukraine hit global commodity markets.

So British Sugar has agreed to pay loyal sugar beet growers a quarter of the agreed price ahead of the 2022/23 crop year, interest-free, to help ease their cash flow problems.

The offer is open to all growers who have entered into contracts with British Sugar in each of the last three years.

Producers will be able to join the program, with the money going to their banks in the third full week of June.

Dan Green, Agriculture Director at British Sugar, said: “With recent levels of inflation driving up input prices, sugar beet growers are facing unexpected and increased pressures. We have worked with NFU Sugar to provide practical assistance in these extraordinary circumstances.

“We recognize, more than ever, that growing sugar beets is a partnership between growers, industry partners and us as a processor.

“We hope this cash advance, along with the work of the Field-to-Factory Partnership, will give growers the confidence to invest in sugar beets for the long term. »

Fenland producer Michael Sly is Chairman of the National Farmers Union Sugar Council (NFU Sugar). He said: “With growers across the country facing extreme inflationary pressures, I am delighted that we have been able to work with British Sugar to offer growers a cash advance on their 2022 crop.

“Cash flow is hugely important to a farming business and when prices for key inputs have risen so sharply, this early injection of cash will bring some relief to UK sugar beet growers.”


Michael Sly, Fenland farmer and Chairman of the Board of NFU Sugar, pictured in a field of sugar beets
– Credit: NFU / Tim Scrivener

North Norfolk grower Kit Papworth, also representing NFU Sugar, said: “It’s hugely positive for growers who have to commit to unusually expensive inputs at this stage of the season.

“The implications for agricultural businesses are really significant. The money needed to get from this time of year to when you sell these crops is an overwhelming amount of money, so any help British Sugar can give us is the welcome.”

British Sugar processes the region’s beet crops at its four factories at Cantley and Wissington in Norfolk, Bury St Edmunds in Suffolk and Newark in Nottinghamshire.

The company’s announcement follows a similar decision by Defra earlier this month to bring half of this year’s Basic Payment Scheme (BPS) grant payments up front, from the end of July, to help farm cash flow.

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Cash advance adds more value to the farm this spring – PortageOnline.com https://vivenavalmoral.com/2022/05/23/cash-advance-adds-more-value-to-the-farm-this-spring-portageonline-com/ Mon, 23 May 2022 11:12:08 +0000 https://vivenavalmoral.com/2022/05/23/cash-advance-adds-more-value-to-the-farm-this-spring-portageonline-com/ An Advance Payments Program (APP) cash advance can make a big difference for farmers this year, according to Dave Gallant, director of finance and operations for the Canadian Canola Growers Association (CCGA). CCGA’s APP Cash Advance is a low-interest financing tool specifically designed for the needs of farmers. Farmers can borrow up to $1,000,000 on […]]]>

An Advance Payments Program (APP) cash advance can make a big difference for farmers this year, according to Dave Gallant, director of finance and operations for the Canadian Canola Growers Association (CCGA).

CCGA’s APP Cash Advance is a low-interest financing tool specifically designed for the needs of farmers. Farmers can borrow up to $1,000,000 on over 50 commodities, with the first $100,000 available interest-free and any amount above prime minus 0.75%.

“With the Bank of Canada forecasting higher interest rates, a cash advance is more valuable than ever,” says Gallant. “Farmers pay no interest on the first $100,000, and if they borrow more than that, the blended interest rate remains well below prime.”

“This year we are seeing higher advance rates, which means most farmers will qualify for larger loans, even for the same amount of crops or livestock as last year,” he adds. -he. “Crop market values ​​are high, but so are input costs. A cash advance can really help balance cash flow throughout the growing season and beyond.

An APP cash advance can be used any time of the year and has no limit on how farmers can use it on their farm. Farmers can use short-term financing for the purchase of inputs, maintenance and repairs, wages, or to provide cash on their farm while they take the time they need to execute their farming strategy. marketing – whatever makes sense for their farm.

The CCGA has nearly 40 years of experience administering the cash advance program and works with thousands of farmers each year. New applicants are guided through the steps to apply over the phone, and previous clients can call or apply online. Refunds are made directly through authorized purchasers such as grain elevators, through the farmer’s financial institution, or by mailing a check.

Farmers should consider how a CCGA APP cash advance might fit into their financial toolkit this year. For more information, please visit ccga.ca/cash-advance.

The Advance Payments Program is a federal loan program administered by the CCGA. It provides Canadian farmers with marketing flexibility through low-interest, no-interest cash advances.

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Cash advance adds more value to the farm this spring – PembinaValleyOnline.com https://vivenavalmoral.com/2022/05/23/cash-advance-adds-more-value-to-the-farm-this-spring-pembinavalleyonline-com/ Mon, 23 May 2022 10:35:50 +0000 https://vivenavalmoral.com/2022/05/23/cash-advance-adds-more-value-to-the-farm-this-spring-pembinavalleyonline-com/ SPONSORED CONTENT: An Advance Payments Program (APP) cash advance can make a big difference for farmers this year, according to Dave Gallant, director of finance and operations for the Canadian Canola Growers Association (CCGA). CCGA’s APP Cash Advance is a low-interest financing tool specifically designed for the needs of farmers. Farmers can borrow up to […]]]>

SPONSORED CONTENT:

An Advance Payments Program (APP) cash advance can make a big difference for farmers this year, according to Dave Gallant, director of finance and operations for the Canadian Canola Growers Association (CCGA).

CCGA’s APP Cash Advance is a low-interest financing tool specifically designed for the needs of farmers. Farmers can borrow up to $1,000,000 on over 50 commodities, with the first $100,000 available interest-free and any amount above prime minus 0.75%.

“With the Bank of Canada forecasting higher interest rates, a cash advance is more valuable than ever,” says Gallant. “Farmers pay no interest on the first $100,000, and if they borrow more than that, the blended interest rate remains well below prime.”

“This year we are seeing higher advance rates, which means most farmers will qualify for larger loans, even for the same amount of crops or livestock as last year,” he adds. -he. “Crop market values ​​are high, but so are input costs. A cash advance can really help balance cash flow throughout the growing season and beyond.

An APP cash advance can be used any time of the year and has no limit on how farmers can use it on their farm. Farmers can use short-term financing for the purchase of inputs, maintenance and repairs, wages, or to provide cash on their farm while they take the time they need to execute their farming strategy. marketing – whatever makes sense for their farm.

The CCGA has nearly 40 years of experience administering the cash advance program and works with thousands of farmers each year. New applicants are guided through the steps to apply over the phone, and previous clients can call or apply online. Refunds are made directly through authorized purchasers such as grain elevators, through the farmer’s financial institution, or by mailing a check.

Farmers should consider how a CCGA APP cash advance might fit into their financial toolkit this year. For more information, please visit ccga.ca/cash-advance.

The Advance Payments Program is a federal loan program administered by the CCGA. It provides Canadian farmers with marketing flexibility through low-interest, no-interest cash advances.

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Virginia Enacts Merchant Cash Advance Registration and Disclosure Act Finance & Banking https://vivenavalmoral.com/2022/04/15/virginia-enacts-merchant-cash-advance-registration-and-disclosure-act-finance-banking/ Fri, 15 Apr 2022 12:59:24 +0000 https://vivenavalmoral.com/2022/04/15/virginia-enacts-merchant-cash-advance-registration-and-disclosure-act-finance-banking/ To print this article, all you need to do is be registered or log in to Mondaq.com. On April 11, 2022, Virginia became the second U.S. state to require providers of merchant cash advance (“MCA”) products to obtain a state regulatory license or registration, on the heels of the Utah. With Governor Glenn Youngkin’s signing […]]]>

To print this article, all you need to do is be registered or log in to Mondaq.com.

On April 11, 2022, Virginia became the second U.S. state to require providers of merchant cash advance (“MCA”) products to obtain a state regulatory license or registration, on the heels of the Utah. With Governor Glenn Youngkin’s signing of House Bill 1027, companies providing “sales-based financing” in Virginia will now be required to provide advance information on financing terms, follow certain dispute resolution procedures and register with the Virginia State Corporation Commission (“Commission”) by November 1, 2022.

Unlike small business financing disclosure laws enacted by California, New York, and Utah, which broadly apply to many forms of non-mortgage small business financing, Virginia’s new law focuses narrowly on providers of “sales-based financing”. The bill’s sponsor, Delegate Kathy Tran, noted that the bill is specifically aimed at regulating ACM providers. The law defines “sales-based financing” as a “transaction that is repaid by the recipient to the provider, over time, as a percentage of sales or revenue, in which the amount of the payment may increase or decrease depending on the volume of sales achieved. or income received by the beneficiary. The term “sales-based financing” also includes transactions with “an accrual mechanism in which the financing is repaid as a fixed payment, but provides a reconciliation process that adjusts the payment to an amount that is a percentage of the sales or revenue.

Virginia is now the second state to enact a specific licensing or registration regime for ACM providers. The new law requires MCA providers to register with the Virginia State Corporation Commission by November 1, 2022, and then on an annual basis thereafter. Since MCA providers often source from brokers or independent sales organizations, the law also extends the registration requirement to “sales-oriented financing brokers”, which the law defines as “a a person who, for payment or in the expectation of payment, obtains or offers to obtain financing based on sales from a supplier for a beneficiary. » Suppliers and brokers must also be licensed to transact in Virginia, unless they are already organized under Virginia law or are otherwise not required to obtain license. authorization to transact in Virginia as a foreign entity.

The new Virginia law also follows in the footsteps of California, New York and Utah in imposing disclosure obligations on ACM providers. MCA providers will be required to disclose funding terms at the time the provider offers an MCA to a merchant. These disclosures are similar to disclosures required for “sales-based financing” providers under other recent state laws and include:

  • The total sales-based financing amount and disbursement amount, if different from the financing amount, after deducting or withholding fees at the time of disbursement

  • The financial burden

  • The total reimbursement amount, which is the disbursement amount plus finance charges

  • The estimated number of payments, which is the number of payments expected, based on the merchant’s projected sales volume, to equal the total refund amount

  • Payment amounts, based on the merchant’s projected sales volume, (i) for fixed payment amounts, payment amounts, payment frequency and method, or (ii) for variable payment amounts, a schedule of payment or a description of the method used to calculate the amounts and frequency of payments and method of payment

  • A description of any other potential fees and charges not included in finance charges, including drawdown fees, late payment fees, returned payment fees, and prepayment fees or penalties

  • If the recipient elects to prepay or refinance the sales-based financing prior to full repayment: (i) an updated disclosure of the six prior disclosures required above, as of the date of the prepayment or refinancing; and (ii) a description of prepayment policies indicating whether the recipient will be required to pay additional fees, penalties, or other amounts not already included in the finance charge, or whether the recipient will receive a fee discount. financial.

  • A description of collateral requirements or collateral, if any

  • A statement of whether the supplier will pay compensation directly to a broker under the specific sales-based financing offer and the amount of compensation

Unlike California and New York law, Virginia law does not require the disclosure of an annual percentage rate or “APR”. Since House Bill 1027 does not define many of the terms used in the disclosure requirements, including “finance charges”, and does not give MCA providers any instructions on how to calculate finance charges, the volume expected sales or payment schedule, regulators may need to issue guidelines or regulations to implement disclosure obligations. Regulators will likely need to act quickly, as disclosure obligations come into effect on July 1, 2022, and it’s hard to imagine how the law could be enforced without rules providing necessary guidance to ACM providers. The law authorizes the Commission to promulgate regulations, but the short period between the promulgation of the law and its effective date may not be sufficient for the Commission to make a proper development of notice and comment rules. . It would not be surprising if MCA suppliers were granted a grace period extending beyond July 1, similar to the many delays in the effective date of California and New York disclosure requirements. resulting from the need for regulators to finalize rules implementing disclosure requirements.

Finally, the law imposes several conditions for the settlement of disputes. First, the law prohibits providers from using the confession of judgment provisions. Second, the law also requires that any legal action related to a sales-based financing agreement be brought in Virginia; forum selection clauses requiring that legal actions be brought outside of Virginia are unenforceable. Third, the law includes two restrictions on arbitration clauses in sales-based financing agreements. Specifically, the arbitration clause cannot require face-to-face arbitration to take place outside of the jurisdiction where the merchant’s principal place of business is located, and vendors must pay all arbitration costs. Although Virginia law declares violation of the terms of a sales-based financing agreement unenforceable, vendors may be able to argue that federal arbitration law prevails over state law regulation. Statement on Arbitration Clauses.

Virginia law exempts financial institutions such as banks and credit unions. Merchant cash advances over $500,000 are also exempt. Finally, the law contains a de minimis exemption for a person who completes no more than five “sales-based financing” transactions in a 12-month period.

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Virginia enacts Merchant Cash Advance Registration and Disclosure Act https://vivenavalmoral.com/2022/04/14/virginia-enacts-merchant-cash-advance-registration-and-disclosure-act/ Thu, 14 Apr 2022 06:55:53 +0000 https://vivenavalmoral.com/2022/04/14/virginia-enacts-merchant-cash-advance-registration-and-disclosure-act/ On April 11, 2022, Virginia became the second U.S. state to require providers of merchant cash advance (“MCA”) products to obtain a state regulatory license or registration, on the heels of the Utah. With Governor Glenn Youngkin’s signing of House Bill 1027, companies providing “sales-based financing” in Virginia will now be required to provide advance […]]]>

On April 11, 2022, Virginia became the second U.S. state to require providers of merchant cash advance (“MCA”) products to obtain a state regulatory license or registration, on the heels of the Utah. With Governor Glenn Youngkin’s signing of House Bill 1027, companies providing “sales-based financing” in Virginia will now be required to provide advance information on financing terms, follow certain dispute resolution procedures and register with the Virginia State Corporation Commission (“Commission”) by November 1, 2022.

Unlike small business financing disclosure laws enacted by California, New York, and Utah, which broadly apply to many forms of non-mortgage small business financing, Virginia’s new law focuses narrowly on providers of “sales-based financing”. The bill’s sponsor, Delegate Kathy Tran, noted that the bill is specifically aimed at regulating ACM providers. The law defines “sales-based financing” as a “transaction that is repaid by the recipient to the provider, over time, as a percentage of sales or revenue, in which the amount of the payment may increase or decrease depending on the volume of sales achieved. or income received by the beneficiary. The term “sales-based financing” also includes transactions with “an accrual mechanism in which the financing is repaid as a fixed payment, but provides a reconciliation process that adjusts the payment to an amount that is a percentage of the sales or revenue.

Virginia is now the second state to enact a specific licensing or registration regime for ACM providers. The new law requires MCA providers to register with the Virginia State Corporation Commission by November 1, 2022, and then on an annual basis thereafter. Since MCA providers often source from brokers or independent sales organizations, the law also extends the registration requirement to “sales-oriented finance brokers”, which the law defines as “a a person who, for payment or in the expectation of payment, obtains or offers to obtain financing based on sales from a supplier for a beneficiary. » Suppliers and brokers must also be licensed to transact in Virginia, unless they are already organized under Virginia law or are otherwise not required to obtain license. authorization to transact in Virginia as a foreign entity.

The new Virginia law also follows in the footsteps of California, New York and Utah in imposing disclosure obligations on ACM providers. MCA providers will be required to disclose funding terms at the time the provider offers an MCA to a merchant. These disclosures are similar to disclosures required for “sales-based financing” providers under other recent state laws and include:

  • The total sales-based financing amount and disbursement amount, if different from the financing amount, after deducting or withholding fees at the time of disbursement
  • The financial burden
  • The total reimbursement amount, which is the disbursement amount plus finance charges
  • The estimated number of payments, which is the number of payments expected, based on the merchant’s projected sales volume, to equal the total refund amount
  • Payment amounts, based on the merchant’s projected sales volume, (i) for fixed payment amounts, payment amounts, frequency and method, or (ii) for variable payment amounts, a schedule of payment or a description of the method used to calculate the amounts and frequency of payments and method of payment
  • A description of any other potential fees and charges not included in finance charges, including drawdown fees, late payment fees, returned payment fees, and prepayment fees or penalties
  • If the recipient elects to prepay or refinance the sales-based financing prior to full repayment: (i) an updated disclosure of the six prior disclosures required above, as of the date of the prepayment or refinancing; and (ii) a description of prepayment policies indicating whether the recipient will be required to pay additional fees, penalties, or other amounts not already included in the finance charge, or whether the recipient will receive a fee discount. financial.
  • A description of collateral requirements or collateral, if any
  • A statement of whether the supplier will pay compensation directly to a broker under the specific sales-based financing offer and the amount of compensation

Unlike California and New York law, Virginia law does not require the disclosure of an annual percentage rate or “APR”. Since House Bill 1027 does not define many of the terms used in the disclosure requirements, including “finance charges”, and does not give MCA providers any instructions on how to calculate finance charges, the volume expected sales or payment schedule, regulators may need to issue guidelines or regulations to implement disclosure requirements. Regulators will likely need to act quickly, as disclosure obligations come into effect on July 1, 2022, and it’s hard to imagine how the law could be enforced without rules providing necessary guidance to ACM providers. The law authorizes the Commission to promulgate regulations, but the short period between the promulgation of the law and its effective date may not be sufficient for the Commission to make a proper development of notice and comment rules. . It would not be surprising if MCA suppliers were granted a grace period extending beyond July 1, similar to the many delays in the effective date of California and New York disclosure requirements. resulting from the need for regulators to finalize rules implementing disclosure requirements.

Finally, the law imposes several conditions for the settlement of disputes. First, the law prohibits providers from using the confession of judgment provisions. Second, the law also requires that any legal action related to a sales-based financing agreement be brought in Virginia; forum selection clauses requiring legal actions to be brought outside of Virginia are unenforceable. Third, the law includes two restrictions on arbitration clauses in sales-based financing agreements. Specifically, the arbitration clause cannot require face-to-face arbitration to take place outside of the jurisdiction where the merchant’s principal place of business is located, and vendors must pay all arbitration costs. Although Virginia law declares violation of the terms of a sales-based financing agreement unenforceable, vendors may be able to argue that federal arbitration law prevails over state law regulation. Statement on Arbitration Clauses.

Virginia law exempts financial institutions such as banks and credit unions. Merchant cash advances over $500,000 are also exempt. Finally, the law contains a de minimis exemption for a person who completes no more than five “sales-based financing” transactions in a 12-month period.

]]>
Merchant Cash Advance Market [2022-2030] | Size, share, growth | Type and application, key players, market drivers, challenges, opportunities, development trend, sales and revenue and forecast research https://vivenavalmoral.com/2022/04/06/merchant-cash-advance-market-2022-2030-size-share-growth-type-and-application-key-players-market-drivers-challenges-opportunities-development-trend-sales-and-revenue-and-forecast-resea/ Wed, 06 Apr 2022 07:00:00 +0000 https://vivenavalmoral.com/2022/04/06/merchant-cash-advance-market-2022-2030-size-share-growth-type-and-application-key-players-market-drivers-challenges-opportunities-development-trend-sales-and-revenue-and-forecast-resea/ World Market Reports Major Key Players are – Fundbox, Credibly, American Express, Fora Financial, PayPal Working Capital, etc. Pune, April 06, 2022 (GLOBE NEWSWIRE) — The latest Merchant Cash Advance Market The 2022 research report provides detailed information about the market overview, modern trends, demand and recent developments affecting the growth of the market over […]]]>

World Market Reports

Major Key Players are – Fundbox, Credibly, American Express, Fora Financial, PayPal Working Capital, etc.

Pune, April 06, 2022 (GLOBE NEWSWIRE) — The latest Merchant Cash Advance Market The 2022 research report provides detailed information about the market overview, modern trends, demand and recent developments affecting the growth of the market over the coming year. The Merchant Cash Advance Market report also covers new business development, price, revenue, gross margin, market size, share, potential growth and upcoming market strategy followed by key players. This report also gives the knowledge of the major company profiles in the market. The report focuses on the Merchant Cash Advance market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status and development trends. Additionally, the Merchant Cash Advance market forecast by regions, type and application, with sales and revenue, from 2022 to 2030. The report also covers the market landscape and its growth prospects in the coming years. Finally, the feasibility of new investment projects is assessed and general research conclusions are offered.

Get a sample PDF of the report – https://www.marketreportsworld.com/enquiry/request-sample/20488246

Additionally, the research report provides in-depth data on the major factors influencing the growth of the Merchant Cash Advance market at the national and local levels, market size forecast, in terms of value, market share by region and segment, regional market positions, growth opportunities by segment and by country, key company profiles, SWOT, product portfolio and growth strategies.

Impact of Covid-19 on the merchant cash advance industry:

Furthermore, the impact of COVID-19 is also concerned. Since its emergence in December 2019, the COVID-19 virus has spread around the world and caused enormous loss of life and economy, and the global manufacturing, tourism and financial markets have been hit hard. , while the online market/industry has grown. Fortunately, with the development of vaccines and other efforts by governments and global organizations, the negative impact of COVID-19 is expected to subside and the global economy is expected to recover.

This research covers the impacts of COVID-19 on upstream, midstream and downstream industries. Moreover, this research provides an in-depth assessment of the market by highlighting information on various aspects covering market dynamics such as drivers, barriers, opportunities, threats, and industry news and trends. In the end, this report also provides in-depth analysis and professional advice on how to face the post-COIVD-19 period.

Get Sample Copy of 2022 Merchant Cash Advance Market Research Report

This report gives a detailed description of all the factors influencing the growth of these market players along with their company profiles, product portfolios, marketing strategies, technology integrations and more information about these market players. Some of the key players are:

Major Key Players Listed in the Merchant Cash Advance Market Report are:

Global merchant cash advance market: Pilots and Withholdings

The research report has integrated the analysis of different factors which are increasing the growth of the market. It constitutes trends, restraints and drivers that transform the market either positively or negatively. This section also provides the scope of different segments and applications that can potentially influence the market in the future. Detailed information is based on current trends and historical milestones.

A thorough assessment of the restrictions included in the report portrays the contrast with the drivers and gives room for strategic planning. Factors that overshadow the growth of the market are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into the opinions of market experts have been taken to better understand the market.

Learn more and share questions, if any, before purchase on this report at – https://www.marketreportsworld.com/enquiry/pre-order-enquiry/20488246

Overall, the report proves to be an effective tool that players can utilize to gain a competitive edge over their competitors and ensure sustainable success in the global Merchant Cash Advance Market. All conclusions, data and information provided in the report are validated and revalidated using reliable sources. The analysts authoring the report have adopted a unique and industry-leading research and analytical approach to an in-depth study of the global merchant cash advance market.

Global Merchant Cash Advance Market: Segment Analysis

The research report includes specific segments by region (country), by company, by type and by application. This study provides information on sales and revenue over the historical and forecast period. Understanding the segments helps to identify the importance of different factors contributing to market growth.

By type:

  • online cash advance

  • Offline cash advance

Per application:

By sales channel

  • direct channel

  • Distribution channel

Geographic segment covered in the report:

The Merchant Cash Advance report provides information on the market area, which is sub-divided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region over the estimated period.

  • North America (United States, Canada and Mexico)

  • Europe (Germany, UK, France, Italy, Russia and Spain etc.)

  • Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia, etc.)

  • South America (Brazil, Argentina and Colombia etc.)

  • Middle East and Africa (South Africa, UAE and Saudi Arabia etc.)

Answers to key questions in the report:

  • What is the growth potential of the Merchant Cash Advance market?

  • Which product segment will take the lion’s share?

  • Which regional market will impose itself as a pioneer in the years to come?

  • Which application segment will experience strong growth?

  • What growth opportunities might arise in the merchant cash advance industry in the coming years?

  • What are the most significant challenges that the Merchant Cash Advance market may face in the future?

  • Who are the leading companies in the Merchant Cash Advance market?

  • What are the key trends that are positively impacting market growth?

  • What growth strategies are the players considering to stay in the merchant cash advance market?

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Detailed TOC of Global Merchant Cash Advance Market Report 2022

Chapter 1 Merchant Cash Advance Market Overview

1.1 Merchant Cash Advance Definition
1.2 Global Merchant Cash Advances Market Size Status and Outlook (2016-2030)
1.3 Global Merchant Cash Advances Market Size Comparison by Regions (2016-2030)
1.4 Global Merchant Cash Advance Market Size Comparison by Type (2016-2030)
1.5 Global Merchant Cash Advances Market Size Comparison by Application (2016-2030)
1.6 Global Merchant Cash Advance Market Size Comparison by Sales Channel (2016-2030)
1.7 Merchant Online Sales Market Dynamics (COVID-19 Impacts)
1.7.1 Market drivers/opportunities
1.7.2 Market Challenges/Risks
1.7.3 Market News (Mergers/Acquisitions/Expansion)
1.7.4 Impacts of COVID-19
1.7.5 Post-COVID-19 Strategies

Chapter 2 Merchant Cash Advance Market Segment Analysis by Player

2.1 Global Cash Advance Sales and Market Share by Player (2019-2021)
2.2 Global Payment Revenue and Market Share by Player (2019-2021)
2.3 Global Payment Per Player Average Price (2019-2021)
2.4 Player Competition Status and Trends
2.5 Conclusion of the segment by player

Chapter 3 Merchant Cash Advance Market Segment Analysis by Type

Chapter 4 Merchant Cash Advance Market Segment Analysis by Application

Chapter 5 Merchant Cash Advance Market Segment Analysis by Sales Channel

Chapter 6 Merchant Cash Advance Market Segment Analysis by Regions

Chapter 7 Profile of Merchant Cash Advance Major Players

Chapter 8 Upstream and Downstream Analysis of Merchant Cash Advance

Chapter 9 Merchant Cash Advance Development Trend (2022-2030)

Chapter 10 Appendix

Continued….

Browse Full Table of Contents at – https://www.marketreportsworld.com/TOC/20488246#TOC

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