Results 1 to 9 of 9
Threaded View
-
02-23-2015, 11:34 AM #1
Renewal Practice
I have a merchant that just got a renewal from Pearl. He had a previous balance of $9k, and got an offer $25k, with a payback of $36,250. However, after paying off the previous balance, he is receiving $16k, but paying back the full $36,250. Unless my math is very wrong here, that is a 100% factor rate.
Why exactly would a merchant take this kind of money, in this position? Considering the full cost of the money, he will get a better rate at the loanshark down the block!!
Similar Threads
-
Merchant wants renewal after they got a 2nd position.
By jec1521 in forum Deal BinReplies: 10Last Post: 01-26-2022, 11:17 AM -
I need a solid lender for a Dental Practice Purchase
By Advanta Funding in forum Deal BinReplies: 12Last Post: 02-23-2015, 03:32 PM -
Renewal vs Add ons, what is the Difference?
By HannahBernstein in forum Merchant Cash AdvanceReplies: 17Last Post: 07-14-2014, 05:53 PM -
Renewal vs. Add on
By adroc in forum Merchant Cash AdvanceReplies: 15Last Post: 05-29-2014, 11:46 AM -
Same commisison on New and Renewal - Excelent ISO Support
By @jeannette in forum Help WantedReplies: 0Last Post: 12-05-2012, 11:46 AM