Originally, a merchant cash advance (MCA) was structured as a lump sum payment to a business in exchange for a share of future credit card and/or debit card sales. Remittances are deducted from customers’ debit and credit card purchases on a daily basis until the obligation is met. Most providers form alliances with payment processors and then take a variable or fixed percentage of future credit card sales from merchants. Merchants have recently began having their payments debited directly from their business checking accounts, no longer requiring the credit card splits. This process is commonly utilized by small businesses for their financing procedures.
These merchant cash advances are not loans, but rather a sale of a percentage of future sales. As a result, merchant cash advance payments are exempt from state financial regulations, which prohibit lenders from charging high-interest rates. Therefore, they operate in a large open marketplace and charge much higher rates than banking institutions. A New York Supreme Court judge, presiding over a published merchant cash advance case on June 10, 2016, ruled that “if the transaction is not a loan, there can be no interest rate risk.”
Merchant cash advances are typically used in retail businesses that fail to qualify for traditional bank loans, and are generally more costly than conventional loans. Its rates have increased as a result of inflation and the FED rate hikes. Intending to raise people’s awareness of merchant cash advance procedure, Peter W. Risko Jr. opened MCA Broker Bootcamp, an online platform providing sales training to people who are new to the business industry.
Born on September 2, 1979, and raised in Edison, NJ Risko attended John P Steven’s High School for his early education. Later, he completed a 4-year apprenticeship in Local 28 NYSMWA. Knowing that he wanted to devise something from scratch, Risko entered Wall Street in the private equity sector with no experience or special connections. He worked day-in and day-out and finally built a 50+ person sales team, beating all the odds.
Risko is well-known as a self-made multi-millionaire who pioneered the use of cutting-edge technology solutions in the financial district of New York City and later built a multimillion-dollar portfolio of stocks, cryptocurrency, and real estate investments.
After acquiring all the necessary information about the corporate finance industry, Risko became the President of Fresh Start Capital, Inc., a company that provides innovative funding solutions to clients involved in distressed company situations. Due to his intellectual personality and diversified knowledge, he owns several other businesses, including Zoom Capital, Inc and Glacier Funding, Inc. He expanded the horizons of his professional life by gathering information about different fields, including business consultancy, personal & corporate credit repair systems, auto sales, sales training, hard money loans, real estate fix & flip, real estate rentals, merchant cash advance, and corporate restructuring.
Risko has a reputation for empowering unlikely groups of new entrepreneurs, ranging from high school dropouts, ex-convicts, and unskilled workforce to corporate executives and recent college graduates, seeking a way to earn seven figures in a rising industry with no prior experience and a small financial investment.
Being a husband and father, who was raised by a single parent, Risko understands the numerous financial struggles that underprivileged families face, as well as the physical and mental stress caused by feelings of entrapment. With a goal and will to help ordinary people earn more than doctors, lawyers, and other C-Level Executives, he created the MCA Broker Bootcamp. The MCA Broker Bootcamp is an online sales training course designed for almost any aspiring entrepreneur looking to set up a business with low operational costs, no prior experience in the finance industry, and unlimited earning potential, all from the safety and comfort of one’s own home.
Risko has also written some informative documents for Forbes with a motive to share his knowledge with aspiring entrepreneurs. One of his primary goals is to make people aware of the fact that opportunities exist for everyone and that with the right discipline, training, and hard work, they can turn their financial situation around and truly live the life they desire.