Monthly Archives: August 2016

New York Court Finds Sale of Future Receivables is Not Subject to Usury Laws

A small business funderĀ entered into an agreement with a business to purchase a portion of the business’ future receivables for an upfront lump sum. In exchange for the lump sum payment, the funder was to receive 9% of the business’ … Continue reading

Posted in Civil Usury, Criminal Usury, Merchant Cash Advance, New York, State Court | Comments Off on New York Court Finds Sale of Future Receivables is Not Subject to Usury Laws

Excessive Interest Caused By Contingency Under Debtor’s Control Not Usurious

A horse owner provided a loan to a horse trainer. The promissory note required simple interest payments of 4% per annum. The trainer had the option of providing free training for two of the owner’s horses in lieu of paying … Continue reading

Posted in California, Civil Usury, Federal Court, Usury Exceptions | Comments Off on Excessive Interest Caused By Contingency Under Debtor’s Control Not Usurious