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Delancey Street Helps Business Owners Regain Control

Each year 10's of thousands of business owners struggle.

Join The Program

Fill out our contact form. We'll reach out and conduct a thorough assessment of your situation, and how we can help you. Our goal is to understand your situation, and determine if our program is the right for you, and the type of debt you have.

We Work With You

Once we determine our program is right for you, we start working on your behalf. We conduct a thorough evaluation of the type of debts you have, and put together an action plan on what a realistic, and beneficial outcome would look like for each debt.

We Get Results

The final step is the most important, we restructure your debt and put you in a better position than we found you. We work with you to adhere to the new debt restructuring program, and are with you every step of the way to make sure your business is thriving.

Program Results

$450K Merchant Cash Advance

Extra 24 Months

Transformed into a monthly payment, and extended by 2 years, with a 15% reduction in balance.
$110K Merchant Cash Advance

55% Reduction

Transformed into a monthly payment, and extended by 2 years, with a 55% reduction in balance.
$100k Business LOC

50% Redution

Our client had an LOC with a MCA hybrid lender, and saw a drastic reduction in balance.

How We Help

Business debt settlement through Delancey Street involves restructuring your corporate debt, in a manner that allows you to keep your doors open, and results in an increase in cashflow.

Get a affordable plan that works for your business cash flow as a part of the debt settlement process.

Get potential resolutions with Delancey Street in a timely and effective time frame once you enter our debt relief program.

You Have a Powerhouse team of financial and legal experts on your side, advising you on how to interact with predatory creditors.

5 Star Google Rating trusted by 100's of people who are struggling with business debt.

Unpacking the Maxim Commercial Capital and Austin Business Finance LLC Lawsuits

A couple merchant cash advance companies, Maxim Commercial Capital and Austin Business Finance LLC, have recently been involved in some legal drama. As a business owner who may rely on financing, it’s helpful to understand what these lawsuits are about.

The Allegations Against Maxim Commercial Capital

Last December, state authorities raided the offices of Northwest Capital, a merchant cash advance company in Ohio. They were investigating allegations of fraud and money laundering related to Northwest’s business practices.Now, a similar investigation has started looking into Maxim Commercial Capital. Investigators searched Maxim’s offices earlier this month. While details are still emerging, it seems the allegations revolve around deceptive sales tactics and illegal high interest rates.According to business owners who worked with Maxim, the company wasn’t upfront about the true cost of their financing offers. And the effective annual interest rates charged were over 200% in some cases – far higher than Ohio’s state limits.If Maxim is found guilty of these predatory lending practices, they could face serious penalties. Their lending license may be revoked. The company and its executives could also face criminal charges for fraud and racketeering.For small business owners who rely on merchant cash advances, this investigation raises troubling questions. How widespread are these sketchy practices in the industry? As a borrower, how can you avoid getting ripped off?

Lawsuits Against Austin Business Finance LLC

Meanwhile, a merchant cash advance provider in Texas called Austin Business Finance LLC has been hit with multiple lawsuits as well. But the allegations in these cases are different.Here, the plaintiffs are companies who funded loans brokered by Austin Business Finance. They claim Austin misrepresented details about the merchants receiving those loans.For example, one lawsuit alleges Austin exaggerated a merchant’s annual revenue to secure a larger loan amount from the funder. Other cases claim Austin withheld negative information about the merchants’ finances.Essentially, these funders argue Austin misled them to convince them to finance risky loans. And when those merchants defaulted, the funders were left holding the bag.So in Maxim’s case, the allegations focus on abuse of business owners. But with Austin Business Finance, it’s about alleged fraud against lenders. Both types of cases reveal troubling practices that hurt small businesses.

What Should Business Owners Do?

If you’re a small business owner considering a merchant cash advance, these lawsuits underscore the need for caution. Predatory lending and fraud schemes do exist, even among established industry players.When evaluating financing offers, here are some tips:

  • Watch out for “no doc” offers – If a lender doesn’t ask about your finances but offers a large loan, be wary. No doc loans often have astronomically high rates.
  • Read the fine print – Don’t just look at repayment amounts per day or week. Check the APR over the full loan term to understand the true costs.
  • Research lenders – Search online for company names along with words like “complaints,” “lawsuits,” or “investigation.” See if anything troubling comes up.
  • Consider alternatives – Even if you need funding quickly, take time to check rates from multiple lenders. Compare financing types too – loans, credit cards, etc.

If you already have a merchant cash advance and suspect unfair practices, don’t hesitate to talk to a lawyer. An attorney can review your loan agreement and help determine your rights and options. They can also assist if you get contacted by investigators or need to file a complaint.

Ongoing Investigations

Authorities have been ramping up efforts against predatory merchant cash advance companies. The Maxim and Austin Business Finance cases likely won’t be the last lawsuits we see.In fact, the New York Attorney General recently announced settlements with several MCA firms accused of fraudulent practices. And federal regulators are also taking notice. The Consumer Financial Protection Bureau is now accepting merchant cash advance complaints from small businesses.With this increased scrutiny, experts expect to see more regulatory action and lawsuits in the coming months and years. Lenders may face charges for violations ranging from deceptive marketing to outright fraud.For reputable players in the MCA industry, this shake-up presents risks but also opportunities. Companies who self-police and treat borrowers fairly can distinguish themselves from unethical competitors. They can also work with lawmakers to shape sensible rules that protect small businesses without limiting access to capital.How these investigations and lawsuits play out will have big implications for both merchant cash advance providers and the business owners who rely on them for funding. We’ll be following these cases closely and reporting on new developments as they emerge.

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

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$500,000 MCA Restructured Over 3 Years
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$250,000 SBA Loan Offer in Compromise
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$350,000 MCA Restructured Over 2 Years

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