Quote Originally Posted by JSL23 View Post
It shouldn't. What should matter is: Can the Merchant NET 50%+ of the funded amount. If their balance is $10,000 and they are only 25% paid back but they can qualify for $40k-$50k as a 1st position it shouldn't make a difference. If you can pay off the $10,000 and still allow the Merchant to net $30,000 it is crazy not to approve. Some places look at it logically and will do it that way, some won't back off the 50% balance rule.
My thoughts exactly....