144% APR

It has been a while since I last posted news about the dangerous and deceptive Merchant Cash Advance industry.

We have been working mainly behind the scenes with a group of Merchants and Journalists who have provided the resources needed to fight this horrible MCA disease which is helping to cripple and destroy many more American businesses on a daily basis, (as if the bad economy was not enough for businesses across America to deal with).

We have made progress, since my last post many Merchant Cash Advance providers have shut their doors due to the work we have been investing as a group.

There are still many Merchant Cash Advance providers who continue to destroy American Businesses and we will continue to work towards our goals.

Some in the Merchant Cash Advance business would really like you to believe that what they are doing is somehow better or OK because they are not charging fees such as closing fees, consulting fees, finder's fees and/or personal service fees (PSF). and that "you can easily make a lot of money in this business".

But even without those fees the money they are offering businesses has an annual cost to the merchant of about 144% APR ( around four times the cost of even the most expensive credit card cash advances) and is just as harmful to businesses across the country, especially during this recession as merchant struggle to pay for rising costs, gas prices, food prices, slow sales and more.