Sean Murray

Articles by Sean Murray

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Words Matter in Contracts (And everywhere else)

April 25, 2017
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Merchant Cash Advance Training

The Counselor Library conference powered by law firm Hudson Cook LLP was a big hit in Baltimore this week. While focused on consumer lending, they held a special one-day program on merchant cash advance and small business lending. The topics and discussions were off-limits to press reporting but what was largely visible on the exhibition […]

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A Tale of “Debt Restructuring”?

April 19, 2017
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law books

Here’s a doozy for you: A merchant signed an agreement with a purported law firm on September 29, 2016 for assistance with restructuring their debts. As part of that agreement, the law firm, which goes by the name Protection Legal Group, LLC, also offers “Litigation Defense Services” in case the merchant gets sued for non-payment […]

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MCA Case One of the Most Notable of the Year for Factoring Industry

April 17, 2017
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Bob Zadek Factoring Conference 2017

At the 2017 Factoring Conference in Fort Worth, TX, industry attorney and talk radio show host Bob Zadek, cited Merchant Cash & Capital, LLC v G&E Asian American Enterprise., Inc. as one of the most notable legal decisions in 2016. The contract in question was a purchase of future receivables, i.e. a merchant cash cash […]

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4th Alleged Co-conspirator in Fake Debt Settlement Company Arrested

April 14, 2017
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handcuffs and money

A 4th individual has been arrested in connection with the alleged business loan debt settlement fraud perpetrated by Corporate Restructure Inc. Vanessa Cardona a/k/a Emily Goldstein, was arrested right outside of Scardale, NY in February and charged with mail fraud. According to the criminal complaint, she and her main accomplice, Sergiy Bezrukov a/k/a John Butler, […]

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81% of Online Business Lending Borrowers Report Being Satisfied or Neutral

April 12, 2017
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satisfaction levels

The latest Small Business Credit Survey published by the Federal Reserve shows that 81% of small business borrowers were either satisfied or neutral about their online loan experience. Online lenders were defined as nonbank alternative and marketplace lenders, including Lending Club, OnDeck, CAN Capital, and PayPal Working Capital. Of the 19% that were dissatisfied, nearly […]

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For Factoring, Different Spin, Same Issues as MCA

April 10, 2017
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Factoring Conference

They called it the 2017 Factoring Conference, but an MCA professional would’ve hardly noticed. On the agenda was news about Dodd-Frank’s Section 1071, the now-dead NY lending legislation, usury litigation, confessions of judgment, stacking, fintech and gripes about brokers. And yet factors and MCA companies still largely live separate lives. The underlying differences between the […]

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Can Factors and MCA Companies Get Along?

April 7, 2017
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Cowboy

At the factoring conference in Fort Worth, TX on Thursday, the 2 PM panel was officially called The Fintech Disruption. But it could’ve just as easily been named The MCA Disruption considering that the panelists all ran companies engaged in either unsecured business lending or MCA. The tension in the packed room was palpable. For […]

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Lights Out for New York’s Attempt to Impose Stricter Lending Rules

April 5, 2017
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Albany, NY - Capitol Building

In a late night session on Tuesday, and days past the budget deadline, the New York State Senate voted 58-2 in favor of a key budget bill. Noticeably gone from it was Part EE, which would’ve imposed stricter licensing requirements on not only just lending, but also other forms of finance. Part EE was originally […]

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Did UCC Lead Generators Overload NY State’s System?

April 4, 2017
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overload

In the small business finance industry, New York State is known as one of the friendliest places to conduct a UCC search. You can not only search by debtor, but also by secured party, and get just about everything you need to create a list of prospects for free. But the State’s website isn’t exactly […]

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For Marketplace Lending Securitizations, A Bumpy Road But Strong Investor Sentiment

April 3, 2017
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Wall Street

A new report by published by PeerIQ contains 10 recent examples of trigger breaches in marketplace lending ABS transactions. “Since the inception of MPL ABS market, we have observed 10% of deals breaching triggers historically,” the report says. It goes on to say that these events are typically manifestations of “unexpected credit performance, poor credit […]

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