[Michael I]

Hi Michael,

Your original description was "merchant borrows 100k pays it back fully with interest in a month. comes back 2 days later and they give him 100k iso gets paid zero . if he had any balance left even a hundred dollars than iso will be paid on the whole 100k."

So within that context, I can tell you that one possibility is that a competitive lender led a buy-out of our LOC and required the close of our LOC as a stipulation to them taking first position. This does happen from time to time. This would officially close out the account.

Assuming that is what happened, I would have a few more questions. For example:

1) Who facilitated the buy-out? You, another broker, or the competitive lender through their direct team?

2) Who facilitated the placing of the BlueVine 2nd position LOC 2 days later? You or another broker?

Depending on the answers to the questions above, you might receive commission for the 2nd position LOC or you might not. We have strict policies in place to deal with these types of scenarios and ensure "fairness & equity".

I suggest you have a transparent conversation with your Relationship Manager about the specific deal / client. I'm always available for escalation if necessary.

thank you matt i had the merchnat redo as a new file but i was told that if he did go back first to bluevine direct that i would have lost the file. i am sure now that if that does happen it will just need to be a call to you to fix . Celtic bank paid you off not through any broker.