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02-01-2023, 04:03 PM #11
Reputation points: 10476
- Join Date
- Nov 2019
- Posts
- 676
My companies first position deals work kind of like a line of credit. On renewals we do not payoff the old balance to shorten the old term and charge double on the old balance. We just exten the term out the payment stays the same and when the old balance is finished months later then they pay on the new balances. I have merchant been with me for years and keep renewing every few months and paid a total costs between 32-38% for years of funding.
Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872
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