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According to the Spotlight on Small Business box, merchant cash advance providers often charge much lower interest rates than traditional banks.
Judgment Rate
The interest rate set by law that accrues on judgements entered by courts.
Interest Rate
The percentage of a sum of money charged for its use, typically expressed as an annual rate. This rate can apply to loans, savings, and investments.
Negotiable Instrument
A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee's name on it.
Rubber-stamped Signature
A term used to describe a signature that has been mechanically or electronically duplicated, often used to expedite document processing.
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