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07-14-2014, 05:53 PM #18
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- Join Date
- Jan 2013
- Location
- Berlin, CT
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If the merchant has a $5k balance and refinances - the funding company would write a new $10k deal and use $5k to pay off the existing balance. The merchant would pocket the other $5k.
On your other question before that - If Company B was giving the merchant $20k and the merchant had a $10k balance with Company A - the merchant would end up getting $10k and Company A would get $10k. So Company B would still write it as a $20k deal and would get paid as so.
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