Facing a lawsuit from LG Funding, LLC?
If you took out a merchant cash advance (MCA) with LG Funding, LLC, and are now being sued or threatened to be sued by them, then contact Tayne Law Group, P.C. to help you understand your rights. With over 20 years of experience handling the negotiation and resolution of the legal side of business debt, we have the tools needed to resolve your debt.
Is LG Funding Legitimate?
LG Funding, LLC is a legitimate company and a lender that provides business financing to businesses through MCAs. Businesses may choose to take these types of loans to help with cash flow.
LG Funding Reviews and Complaints
As of March 6, 2024, LG Funding has a Better Business Bureau (BBB) rating of “NR” and is not rated by the BBB. LG Funding is not BBB accredited. The company has an average customer review rating of 3.67/5 stars based on three customer reviews. According to their BBB profile, no complaints have been filed against LG Funding.
Knowing Your Rights against LG Funding
MCAs are not subject to the same amount of regulation as traditional loans, as regulation of MCAs is not as robust. This is because MCAs are structured as commercial transactions, not loans, so they don’t fall under traditional lending laws and consumer protection regulations.
When dealing with LG Funding (or any MCA provider), it’s important to understand your rights as a business owner to ensure fair treatment and to protect your interests. While specific rights can vary based on the laws of your state and the terms of your agreement with the MCA provider, here are general rights and considerations:
Dealing with LG Funding
In many cases, businesses have trouble repaying MCAs because they come with very high interest rates. If a business defaults on the loan, the creditor can sue for the debt owed. If a judgment is reached, the creditor could even garnish your wages, seize your assets, or enter liens.
If you’re being sued for debt on a merchant cash advance, don’t panic. Tayne Law Group is a debt relief law firm, and we’re here to help you navigate the complicated legal process and find a solution that works for you and the creditor. In many cases, Gene W. Rosen, Esq., at the Law Office of Alan J. Sasson, P.C., represents LG Funding, LLC.
At Tayne Law Group, we always prioritize your business and your needs. Additionally, we can help your business resolve the debt and avoid bankruptcy without taking on any further debt. Help for your business is just one free phone call away. Contact our offices at (866) 890-7337 or fill out our short contact form.
FAQs about LG Funding, LLC
It is a company that offers working capital to businesses through merchant cash advances.
Merchant cash advances are often quick and easy ways for businesses to receive financing. They are often easier to qualify for than traditional bank loans and therefore better suited to those with poor or no credit. Funds are also generally available within a few days, making merchant cash advances appealing to those looking for fast access to cash.
Businesses often borrow merchant cash advances as short-term loans, with terms ranging from 3-12 months. The business repays the MCA daily, weekly, or monthly through a percentage of its sales, which are often auto-debited from the business bank account. As a result, businesses may pay very high interest rates, with APR equivalents sometimes reaching triple digits.
1218 Union St Ste 2
Brooklyn, New York 11225-1512
