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04-24-2020, 08:09 AM #28
- Join Date
- Jan 2020
- Location
- New York, NY
- Posts
- 102
The bottom line, is that original 'total payback' is not being paid back. In your example, the MCA company is getting $12,625 less than what is stated on the contract. You are using the word 'interest' which is the difference here. It's a very clear stated payback amount on an MCA. Anything less than that is technically considered a default. Most MCA companies won't default the client if an agreement is reached - but it's exponentially harder to get a merchant an MCA once they have 'settled' on a prior MCA. I don't think any broker on here would risk their direct lender relationships - or risk the chance that they will never be able to do another MCA for whichever client takes part in this.
Last edited by FHFunding; 04-24-2020 at 08:14 AM. Reason: accuracy
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