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The two firms gave MyPillow the $1.6 million loan under a merchant cash advance. A merchant cash advance is a specific type of convoluted financial agreement that lets the issuer bypass laws that ...
Exclusive: Lindell said his legal woes are not his priority, telling The Independent, “I’m trying to run companies and get rid of the electronic voting machines. That’s my focus.”
The lawsuit says "cash-strapped" MyPillow borrowed $1.6 million at a 409% annual interest rate. Lindell has said he doesn't have any money, and at least three MyPillow loans have ended up in court.
The term Merchant Cash Advance (MCA), first used by Les Falke to label AdvanceMe's product, is now commonly used to describe a variety of small business financing options characterized by purchasing future sales revenue in exchange for short payment terms (generally under 24 months) and small regular payments (typically paid each business day ...
A wide variety of reasons can be offered for the trickster's lack of cash, but rather than just borrow the money from the victim (advance fee fraud), the con-artist normally declares that they have checks which the victim can cash on their behalf and remit the money via a non-reversible transfer service to help facilitate the trip (check fraud).
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...
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