NJ Legislature Aims to Classify Merchant Cash Advance as a Loan in New Disclosure Bill

| By:


Troy SingletonS2262 in New Jersey, a bill to require disclosures in small business lending, was amended this afternoon to define merchant cash advances as small business loans for the purposes of disclosure.

Banks and equipment leasing companies are exempt from the bill.

You can listen to the hearing here. Debate on S2262 begins at the 6 minute, 12 second mark.

The bill’s author (image at right) is Democratic Senator Troy Singleton who represents New Jersey’s 7th legislative district.

Testifying on Monday’s hearing against the bill were Kate Fisher of the Commercial Finance Coalition and PJ Hoffman of the Electronic Transactions Association.

Last modified: April 20, 2019
Related:

Category: Regulation

Home Regulation › NJ Legislature Aims to Classify Merchant Cash Advance as a Loan in New Disclosure Bill


    Cloudsquare

    Symplifi Capital

    Big Think Capital

    Fenix Capital Funding

    Total Merchant Resources

    Unique Funding Solutions

    Teleforce

    Liquidibee

    Avanza Capital

    The Smarter Merchant

    FundFi

    BizFund

    SOS Capital

    Forward Financing

    Merchant Financing Leads

    Global Funding Experts

    Smart Business Funding

    Fresh Funding

    In Advance

    Paz Funding Source

    deBanked CONNECT San Diego

    Torro

    Amerifi Capital

    Accord Business Funding

    ByzFunder

    Legend Funding

    Flash Advance