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We are an elite criminal defense law firm, that emphasizes providing the best service and professionalism to all clients. We service a curated clientele nationwide – that expect the best from their lawyer. We handle tough criminal defense and legal situations that require deep knowledge, experience, dedication, and excellence in order to win. We have over 50 years of combined experience, handling national and international cases.

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Excellent results begins with top notch service. We treat you like family, and you always know what's going on with your criminal defense case.

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We 100's of 5 star reviews, and have been featured in the media. We are a premier law firm who understands how to win cases.

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The Spodek Law Group is one of the most successful law firms in the USA. Our success comes from the fact we are attentive to details, and take a very pragmatic approach to each and every single case. Our clients turn to us for realistic advice – so they can make the appropriate decisions they need to make personally. Our goal is to make sure your case ends in a positive outcome, not only personally – but for your family as well.

 



What is a merchant cash advance

Small businesses often do not have the most unrestricted access to credit. Banks often do not have the certainty necessary to take the risk to lend money to these businesses. However, this does not mean that small businesses are cut off from obtaining necessary cash infusions should they need it. There are other ways for these companies to leverage their business revenues to obtain immediate money to help their business or smooth their cash flows. Businesses can obtain a merchant cash advance to help them meet their needs.

A merchant cash advance involves a business obtaining a certain sum of money up front. This is not a gift nor is it a loan. Instead, the advancing party is paid back over time. Generally, they obtain a certain percentage of the business’ sales on a daily basis until the advance is recouped. Specifically, this comes from credit card receipts that a business receives.

There are two different forms of merchant cash advances. The first is the more traditional form where the credit card company is instructed to remit a certain amount to the provider daily. The second is where the merchant must make a fixed daily or weekly payment through a payment that comes from the merchant’s bank account. The latter form is becoming the preferred means of merchant cash advances. This broadens the number of businesses that can receive merchant loans because not every business receives their revenues primarily through credit cards.

When a business applies for a merchant cash advance, the provider will look at the daily credit card receipt to ensure that the business will be able to pay back the advance. They may also run a credit check and request bank account stubs to ensure that the merchant can pay back the advance. The provider will then assign a factor rate to the advance. This is another way of describing the fee that the provider receives for the advance. Fees can vary, but in some instances, they may be high.

The factor rate determines the total amount of repayment that the merchant must make. It is multiplied by the amount of the advance and become the number for repayment. Businesses that are less of a risk will receive a lower factor rate since they are a more attractive recipient of these funds. Conversely, businesses with a checkered credit history or without substantial revenues will receive a higher factor rate since there is a greater chance that they may not be able to repay the advance. The quicker that the advance is paid back, the lower the amount of total payments that will have to be made to the provider.

Although they usually have higher rates than traditional loans, there are a number of reasons why businesses would choose a merchant cash advance. First, they may not be able to qualify for a loan, especially in light of tightened credit standards after the Great Recession. Second, merchant cash advances do not have the same paperwork requirements as a traditional loan. This means that businesses can receive a cash infusion in shot order without an excessive wait. Third, since they are not a loan, no collateral needs to be pledged. Thus, if a business cannot pay back the advance, it will not cost the business owner their home. Finally, those merchant cash advances that are tied to sales may take a lower amount in repayment each day if sales are lower than usual.

As with any financial products, users should make sure that they understand the exact terms of what they are committing to before they take the advance. They should weigh their needs for financing versus the cost obtaining the advance. In some instances, the business’ financial needs may make a merchant cash advance the best option to obtain quick financing. Before signing, a business should shop around among providers because terms of the merchant cash advances may vary between providers. In addition, the business should check to see if a short-term loan makes more sense.


Charle Butler
Charle Butler
2021-03-12
Verified
I was hesitant to hire the Spodek Law Group. I read reviews and knew they have a great reputation. However, I thought I would spend money and not see or speak to my attorney. From the beginning to end of my case Todd and the entire staff were available and willing to help. We worked towards and end result that was way above my expectation and Todd delivered. I am forever grateful for patience and long days and night spent working on my case. Thanks Todd and the entire team!
Mesonista parsons
Mesonista parsons
2021-03-05
Verified
My attorney at Spodek was Abigail. She was very knowledgeable and helpful with all my questions and concerns, as well as responsive. Her fees are affordable and Abigail took the time to make sure I understood everything relating to my case. I highly recommend Abigail and will request her services in the future.
debabrata chakraborty
debabrata chakraborty
2021-03-03
Verified
Todd A Spodek is the experienced and best criminal lawyer at USA. He is very professional and always respond on time. Alex also very cooperative and always help me. They took care me and my problem like family member. I am 100% satisfied for their professional service. My result was unexpected and amazing. They dismissed my case. I am really grateful to them. I will recommend you to go there if you want to solve your problem. I wish all the best for them.
Asata Hendricks
Asata Hendricks
2021-03-02
Verified
Truly appreciate the work the guys did!. Exceptional team & I know they care about each and everyone of their clients. I am super thankful to be referred to Spodek Law Group and I am grateful Todd & Alex were able to work diligently to achieve an outcome I am pleased with. Despite COVID they stayed on top of things and kept me informed every step of the way. Very thankful.
Mike Moroff
Mike Moroff
2021-02-26
Verified
I'm very satisfied with the services rendered by Todd, Alex and Mary Lou. I whole heartedly recommend Spodek Law Group . I've worked with and have retained other attorneys in the past with Todd's firm being the cream of the crop for many reasons. A very serious legal matter was resolved after a year's hard work and effort. Todd expertly guided me through the process and was able to navigate and make the good journey bearable as well as successful. Mary Lou initially provided excellent assistance before referring my case to Todd. Alex's support was effective and timely. The customer portal (MyCase) is an invaluable communication tool that also kept track of my case. Various aspects of my case were explained and there were several options provided but I made the final decision of how the case would be handled. The legal fee was reasonable considering the effort and amount of work plus it was a flat fee regardless of the length of time required to conclude my case. Todd made himself available to me and we had many scheduled meetings to go over the progress and to discuss the next steps. I felt more confident after many discussions with him. You will not go wrong choosing Spodek Law Group for legal matters.
Josh Katz
Josh Katz
2021-02-24
Verified
Being that it was the first time that I was in need of an attorney, I was afraid and hesitant and knew I needed the absolute best. It is beyond understood why Spodek Law Group has a reputation of being the top, if not the best law firm in New York. Alex and Abigail were there every step of the way even at the most unconvenient hours. I could not have asked for more. They are extremely good at what they do and they delivered much much more than just winning my case. A big thank you to Alex and Abigail for all the guidance and counseling and their upmost loyal support that extended far more than just legally. If you need the absolute best than don't hesitate to hire Spodek Law Firm.
L.C.
L.C.
2021-02-24
Verified
I cannot tell you how thankful I am to Todd and Alex for their hard work and dedication to my case. I had never been in any trouble before but I had an unfortunate event occur and in the midst of COVID-19 at that therefore I knew I needed a team that was dedicated to my success. Today- my case has been finalized and I’m walking away with no record and can continue life as a mother and a Grad student worry free. I cannot express enough gratitude for their assistance.
AnnMarie Soliman
AnnMarie Soliman
2021-02-23
Verified
I received a summons and called Spodek law group for a free consultation. Alex took my call and was very quick and responsive. He was available anytime through multiple platforms and very reassuring when needed. They are extremely organized and thorough. They got my case dismissed! I’m very grateful. Thank you Alex and Todd!

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Testimonials

Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them enough.

~ David Bruce

Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet.

~ Rowlin Garcia

Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind.

~ Francis Anim

Spodek Law Group

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We provide superior service, excellent results, at a level superior to other criminal defense law firms. Regardless of where your case is, nationwide, we can help you.



Hear From Our Clients

"Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them..."

David Bruce

"Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet."

Rowlin Garcia

"Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind."

Francis Anim
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