Results 1 to 5 of 5
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07-11-2016, 05:46 PM #1
- Join Date
- May 2016
- Posts
- 15
Quickbridge Payoffs & early payoff policy
Have a merchant who is hung up on saving $8K by taking advantage of early payoff but as many of you know QB letters say MUST COME FROM merchant bank acct.
I know the ball is in their court....just curious if anyone ever was able to get them to commit to accepting the discounted amount from a lender.
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07-11-2016, 05:50 PM #2
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
I don't think anyone honors the pre-pay discount for funds that come from refinancing through a competitor
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07-11-2016, 05:54 PM #3
- Join Date
- May 2016
- Posts
- 148
Technically its completely up to them- The issue is that any time they are getting paid off via third party, there is really no incentive for them to discount the payoff. Would you offer a discount to not only lose a client to a competitor but also to take a haircut on your original commission to do so?
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07-11-2016, 06:18 PM #4
- Join Date
- May 2016
- Posts
- 15
No i would not. Just seeing if anyone had similar experience only because QB gives teaser lines like this in every contract and payoff. (Without any special request from merchants)
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07-11-2016, 08:10 PM #5
- Join Date
- Oct 2014
- Posts
- 257
Quickbridge Payoffs & early payoff policy
It's because they are lending through bofi
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