Congressman Lucas introduced the Capital Access for Small Businesses Harmonization (CASH) Act, which will establish clear disclosures of key terms that factors can provide to small businesses at the time of establishment of the factoring facility.
“The American Factoring Association (AFA) is grateful for Congressman Lucas’ introduction of the Capital Access for Small Businesses Harmonization Act, or the CASH Act,” Robyn Barrett, president of the AFA, said. “Congressman Lucas understands how vital the factoring industry is to our nation’s small businesses and that often factors are small businesses themselves. Many of the various state disclosure laws popping up around the country are unworkable for factors, putting them in jeopardy of being out of compliance and to litigation, and most importantly, are threatening much needed access to capital for small businesses. The factoring industry commends Rep. Lucas’ legislation that will create one national workable solution that allows factors to provide accurate disclosures to small businesses that need access to capital to help their businesses grow.”
