business lending and cash advance help

[mlrb inc]

hello,

I am thinking about opening a business as a lender, business-to-business financing, and was wondering if there were specific licenses I may need to get. Also I want to do merchant cash advances unless there are legal reasons not to. Any advice is appreciated.

[platformlending]

Several states do not have any regulations governing commercial loan rates. Some have caps and a couple require licensing. It's a lot more lenient than consumer lending but your best bet is to hire an attorney who can guide you through this landscape state by state. It is my understanding that in merchant cash advances most state regulations do not apply because it is a purchase transaction not a loan. I'm not a lawyer though and every financial company sets up their contracts differently.