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01-29-2014, 11:25 AM #1
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The only reason merchants ask if there is a pre-pay penalty is because some sales offices always include that line in their pitch. In fact, no funder penalizes a merchant for prepaying. The correct pitch should be: "we offer a prepayment discount if you wish to pay off your advance earlier".
If salespeople didn't bring up the pre-pay penalty, the merchants would never know what the term meant.
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01-29-2014, 11:37 AM #2
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01-29-2014, 11:38 AM #3
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It also deters the merchant from asking about a prepayment discount.
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