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05-12-2020, 03:11 PM #1
- Join Date
- Mar 2018
- Posts
- 19
Funders not Paying Renewal Comission due to Covid
Hey Guys
Hope everyone is doing well.
I"m having an experience with a funder, which just renewed my merchant and is stating that they are not going to be paying commissions on the deal since it was refinancing with a NEW program they started to help merchant due to Covid.
Merchant was on a lowered payment with them, but the funder was willing to refi and provide the merchant with net new funds about $20K, and brought the payment back up to normal.
Is anyone else experience something like this? is this normal? I feel as if they are willing to fund they should be willing to pay commission to the referal partner.
This attempt seems like a way to by pass paying commissions.
Not putting names out there right now, just trying to get feedback as to if my claim of wanting to get paid makes sense or if the funders claim to not pay commissions makes any sense or if anyone has heard of this new strategy.
Thanks for the feedback any questions let me know.
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